Cadre réglementaire du paiement mobile domestique de Bank Al-Maghrib (2018), décision réglementaire et lettre circulaire (Bank Al-Maghrib Domestic Mobile Payment Regulatory Framework (2018), regulatory decision and circular letter)

In November 2018 Bank Al-Maghrib issued the regulatory framework for domestic mobile payment in Morocco, comprising a regulatory decision (décision réglementaire) of the Governor setting the rules for domestic mobile payment to be observed by banks and payment institutions, and an accompanying circular letter (lettre circulaire) detailing the technical and security rules and subscription procedures. The framework underpinned the launch, at the end of November 2018, of Morocco's interoperable mobile payment (m-wallet) ecosystem, built around a single national mobile switch (developed by HPS) enabling money transfers between customers holding accounts or wallets at different banks and payment institutions. It was developed by Bank Al-Maghrib in coordination with the national telecommunications regulator (ANRT) to promote financial inclusion and reduce reliance on cash. The instruments govern how regulated providers, banks and the eleven-plus payment institutions licensed by Bank Al-Maghrib's Credit Institutions Committee, connect to the central mobile-payment platform, issue m-wallets to customers, and process domestic person-to-person, person-to-merchant and bill-payment transactions. Core requirements address the technical specifications and interoperability standards for connecting to the switch; customer onboarding, subscription and tiered know-your-customer procedures proportionate to wallet limits; transaction security, authentication and fraud-prevention controls; settlement and clearing arrangements between participants; and consumer-protection rules on transparency, transaction information and complaints handling. By mandating interoperability through a single loop and switch, the framework was designed to prevent fragmentation and ensure that any m-wallet can transact with any other, regardless of issuer. Supervision is exercised by Bank Al-Maghrib, which approves participants, oversees the platform operator and enforces compliance with the technical, security and conduct rules. The 2018 mobile-payment framework is the principal sector instrument giving practical effect, in the mobile-money context, to the payment-institution regime established under Law No. 103-12. (Original language: French/Arabic.)

1. 1Establishes the rules for domestic mobile payment binding on banks and payment institutions (Governor's regulatory decision plus circular letter)
2. 2Mandates interoperability via a single national mobile switch so any m-wallet can transact with any other
3. 3Sets technical specifications and security/authentication standards for connecting to the central mobile-payment platform
4. 4Requires tiered KYC and customer subscription procedures proportionate to wallet limits
5. 5Imposes consumer-protection, transaction-transparency and complaints-handling rules
6. 6Subjects platform participants and the operator to Bank Al-Maghrib approval and oversight