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Open Banking in Morocco: Bank Al-Maghrib's Regulatory Role and Its Impact on Financial Inclusion - An Empirical Approach
[L'Open Banking au Maroc : Le rôle régulateur de Bank Al-Maghrib et son impact sur l'inclusion financière - Une approche empirique]

Author

Listed:
  • Rachid Maghniwi

    (UM5 - Université mohamed 5, Rabat)

  • Mustapha Oukassi

Abstract

This study examines the impact of Open Banking on the Moroccan banking system by analyzing Bank Al-Maghrib's central role in regulating and promoting this innovation. Our research employs a mixed methodology combining quantitative analysis of data collected from 24 Moroccan financial institutions (8 commercial banks, 12 Fintechs, 4 microfinance institutions) and a qualitative approach based on in-depth interviews with key industry stakeholders. Results reveal that the regulatory framework significantly influences Open Banking technology adoption (β = 0.684, p < 0.001), with a positive impact on financial inclusion (β = 0.573, p < 0.001). The study also demonstrates a significant mediating effect of technological adoption (indirect effect = 0.392, p < 0.001) and a moderating effect of institutional characteristics in this relationship. These findings contribute to existing literature by proposing an analytical model adapted to emerging markets and identifying key success factors for Open Banking implementation in the Moroccan context

Suggested Citation

  • Rachid Maghniwi & Mustapha Oukassi, 2025. "Open Banking in Morocco: Bank Al-Maghrib's Regulatory Role and Its Impact on Financial Inclusion - An Empirical Approach [L'Open Banking au Maroc : Le rôle régulateur de Bank Al-Maghrib et son impa," Post-Print hal-04894412, HAL.
    • Handle: RePEc:hal:journl:hal-04894412
    Note: View the original document on HAL open archive server: https://hal.science/hal-04894412v1
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