Bank Al-Maghrib reports rising cash circulation and digital payment growth

According to the 2025 annual report from Bank Al-Maghrib, Morocco is experiencing a dual trend of increasing cash usage alongside significant growth in digital payment methods. Physical currency in circulation reached 513 billion dirhams by the end of December 2025, a 15.5% increase from the previous year. The central bank issued approximately 800 million new banknotes in 2025, with 200-dirham notes accounting for 50% of the total distribution.

Simultaneously, digital and scriptural transactions are expanding. Bank card operations grew by 20% in volume, totaling 230.1 million transactions valued at 70.8 billion dirhams. While cash withdrawals via cards remain the most frequent activity, the share of card-based payments rose to 34% of total card operations.

Other digital segments showed notable progress: electronic payment terminal (TPE) transactions increased by 20%, and e-commerce payments grew by 16% in volume. Mobile wallet usage also expanded, with the number of wallets reaching 16.4 million by the end of 2025, though their use for merchant payments remains below 1%.