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by
Ogwu Osaemezu Emmanuel
on
February 21, 2021 Regulation
The Central Bank of Morocco is now studying the concept of central bank digital currencies (CBDCs) and has set up a committee to extensively explore its pros and cons, according to reports on February 20, 2021.
Morocco Eyes CBDCs
At a time when consumers around the world are increasingly embracing digital payment methods rather than cash, apex banks across various jurisdictions have begun studying central bank digital currencies (CBDCs) in a bid to remain relevant in the rapidly evolving finance ecosystem.
In the latest development, Bank-Al-Maghrib (BAM), the central bank of Morocco, has put in place an exploratory committee to look into the benefits and disadvantages of CBDCs for the nation’s economy and make recommendations