Latest news with #AlBaridBank
Morocco World
21-07-2025
- Business
- Morocco World
Royal Air Maroc, Al Barid Bank Launch Digital Payment Solution at Casablanca Airport
Marrakech – Royal Air Maroc (RAM) and Al Barid Bank have unveiled a pioneering digital service at Mohammed V International Airport in Casablanca. This innovative solution aims to enhance the passenger experience by combining technological advancement with personalized customer service. According to the joint statement, the partnership between RAM and Al Barid Bank has resulted in the development of 'Barid Payment Mobile,' an integrated mobile application that operates on tablets equipped with NFC payment terminals. This technology enables passengers to make contactless payments by simply approaching the terminal with their bank card or smartphone. According to the same source, this solution eliminates traditional payment terminals, offering a faster, smoother, and fully mobile experience, allowing customers to complete transactions directly on the agent's mobile terminal in a simple and secure manner. More than 24 specially trained agents will assist travelers throughout the airport, offering a range of additional services including 'Select Seat' for preferred seating, access to Business Lounges, Business Class upgrades subject to availability, and the exclusive 'Loft' service that combines Premium Lounge access with Fast Track privileges. The initiative will initially be implemented at Casablanca Airport, then gradually expanded to Paris Orly and eventually to other airports. Three dedicated counters have been strategically positioned in key areas of the passenger journey: check-in, transit, and boarding zones. Read also: Royal Air Maroc Expands Fleet with New Boeing 737 MAX 8 Deliveries 'This system reinforces our commitment to offering a smooth, personalized, and digital customer experience from the moment of arrival at the airport,' stated Hamid Addou, CEO of Royal Air Maroc. 'It is part of a global program to transform the customer experience, from the purchase of tickets through our new mobile application and website to the baggage delivery process,' he continued, adding that this program will span 12 months, with the ambition of elevating Casablanca to the status of a regional aviation hub of reference. Al Amine Nejjar, Chairman of Al Barid Bank's Management Board, voiced their pride in putting their digital payment expertise at the service of this pioneering initiative with Royal Air Maroc. 'This partnership illustrates our common desire to innovate to simplify the daily lives of citizens and travelers, by offering Barid Payment Mobile, a secure and cutting-edge soft POS solution,' he noted. This initiative marks a major step in the digitalization of air transport services, concludes the statement. It forms part of a broader transformation program conducted by Royal Air Maroc aimed at enhancing the customer experience at every stage of the journey, from booking to baggage delivery. Tags: Al barid bankMohammed V airportRoyal Air Maroc (RAM)
Morocco World
03-07-2025
- Morocco World
Morocco Sets Preliminary Hajj Fee at MAD 65,000 for 2026 Season
Rabat – Pilgrims selected for Hajj 2026 will have to pay a provisional fee of MAD 65,000 ($7,258) between July 21 and August 8. Minister of Islamic Affairs Ahed Toufic announced the news today, noting that the initial fee is pending final adjustment that will confirm the final cost for the next Hajj season expenses. The minister made his remarks during the meeting of the Royal Commission in charge of the Hajj for next year. He said that the final amount is not confirmed and could either increase or decrease, adding that the collection of the provisional Hajj fee will take place from July 21 to August 8, after which the final amount will be determined. To prepare for the next Hajj season, selected pilgrims must undergo the necessary medical examinations to obtain a certificate confirming their physical and mental fitness to perform pilgrimage. The certificate needs to be submitted to the Ministry of Interior to receive the official selection confirmation. Individuals will then have to complete the phase by paying the Hajj fees at Al Barid Bank branches. They need to do so by providing their selection certificate as well as their national ID card. In the previous Hajj season, the Royal Commission for Pilgrimage set the cost for the Hajj at around MAD 57,200 ($6,377) for pilgrims supervised by the Ministry of Islamic Affairs. The Moroccan quota for the previous season's Hajj was 34,000 pilgrims. Overall, about two million Muslims performed the Hajj this year. In June, Saudi authorities celebrated a successful Hajj season, extending congratulations to all people who contributed to the success of the pilgrimage. Tags: HajjMoroccoPilgrimage
Morocco World
04-04-2025
- Business
- Morocco World
Al Barid Bank Posts 196% Spike in Net Profit for 2024
Doha – Al Barid Bank reported exceptional financial results for 2024, with its Group Net Profit reaching MAD 871.38 million ($87.14 million), indicating a 196% upswing from 2023. The bank's performance was announced during its Supervisory Board meeting held on March 28. The bank's Net Banking Income rose to MAD 3.10 billion ($310 million), representing a 36% year-over-year growth. This improvement was driven by a 19% increase in net interest margin, a 10.4% rise in commission margin, and a remarkable 91.6% jump in market activities. In terms of operational efficiency, the Gross Operating Income surged by 147% to MAD 1.5 billion ($150 million), while Net Income reached MAD 575.5 million ($57.55 million), translating to a staggering 161% leap year-on-year. The bank strengthened its market position in savings mobilization, with demand deposits growing by 11% to MAD 34.3 billion ($3.43 billion). Savings accounts increased by 4.2% to MAD 36.5 billion ($3.65 billion), securing the bank's position as the market leader with a 19.63% market share. The retail lending segment also showed strong performance, with housing loans increasing by 8.4% and consumer loans rising by 9.5%, surpassing the banking sector's average growth. The Supervisory Board also announced changes to the Executive Board, now led by Al-Amine Nejjar as Chairman. The new board includes M'hamed El Moussaoui and Mohammed Kettani as Managing Directors, Mounya Dinar as Deputy Managing Director of Capital Markets, Finance and Management Control, and Abderrahmane Benhayoun Sadafyne as Deputy Managing Director of Commercial Banking. Read also: Al Barid Bank Inaugurates New Branch in Guerguerat 'The strengthening of governance and the Group's performance reinforce the execution trajectory of its strategic plan launched in 2024,' the bank stated in its official communication. The strategy focuses on 'ensuring an agile organization, strengthening financial stability to provide innovative solutions to different customer categories, and deploying new activities to diversify revenue sources.' The bank maintains its commitment to serving as a citizen bank accessible to all Moroccans, balancing growth with its social mandate. These results are a direct outcome of the bank's overarching 2024 strategy, centered on organizational efficiency and customer-focused innovation, it added. Al Barid Bank, established in 2010 as the banking subsidiary of Morocco's postal service, operates under a dual management and supervisory board structure. By 2019, it had leveraged Poste Maroc's extensive network to become the country's most widely accessible financial institution with over 1,800 locations nationwide.
