There are Two Microfinance Banks in Morocco, The Banque Populaire Foundation for Microcredit (FBPMC) and Credit Agricole Microcredit "ARDI Foundation":
- The Banque Populaire Foundation for Microcredit (FBPMC): was established September 6, 1999.
It is an Institution nonprofit governed by the Dahir of 15 November 1958 (regulating the right of association) and Law 18/97 on the performance of the activity of microcredit. It is an answer citizen of Groupe Banque Populaire, which aims to effectively contribute, alongside the state and other nongovernmental organizations (NGOs), national effort to fight poverty and unemployment and to promote employment.
On 1st March 2000, the FBPMC received approval from the Ministry of Economy and Finance to conduct the activity of microcredit. Its object is essentially:
* Distributing microcredits to enable the economically
low to create or develop their own productive activity or service,
to ensure their integration into the economy overall.
* Carry the benefit of its customers, all associated operations relating to the granting microcredits, including training, consulting and technical assistance.
The approach combines the proximity Foundation, funding, coaching, training and monitoring of micro-entrepreneur.
The network of Banque Populaire Fondataion For MicroCredit currently consists of
219branches and distributed antennas travers12 regional supervision.
The establishment of new branches has been accompanied by the recruitment of new officers.
The actual network has reached 833 officers, while the effective seat was 116 components, a comprehensive emotional 949 (44% men and 56% women).
- ARDI Foundation: was established in 2001 as an association of economic and social profit. Its mission is to fight against financial exclusion and promote micro-enterprises particularly in rural areas, through the exercise and the promotion of micro credit.
With a new logo, a new organization and new ambitions, the Foundation ARDI is an extension of the activity of the Credit Agricole Morocco to the rural population not served by traditional bank financing.
ARDI gives poor local services necessary for their socioeconomic integration, investing space and closer to people who need it even in the remotest areas.
P.S: If You Like This Post, Please Subscribe to our Mailing list & Share it, Thanks