The North Africa Journal: Moroccan Banks Facing Liquidity Crisis 

Moroccan Banks Facing Liquidity Crisis
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Arezki Daoud on 01 June, 2008 11:56:00
 
For months now, Moroccan banks have been dealing with a market with constantly
growing credit needs, but money supply has been severely constrained. In the
third quarter of 2008, the Moroccan banks’ need of cash rose to MAD 11.7
billion, up from MAD 8.4 billion the previous quarter, forcing the central bank,
Bank Al-Maghrib to intervene to raise money and pump it back into the system to
keep it afloat. For central bank officials, this state of affairs has nothing to
do with the current global economic meltdown. Officials argue that the Moroccan
financial sector has been solid and the liquidity crisis has bee a constant
phenomenon, not in relations to the ongoing global recession. Continue reading
here.