Rabat - Bank Al-Maghrib and Morocco’s General Directorate of National Security (DGST) have taken a significant step toward bolstering security and streamlining operations.

The two institutions signed a partnership on Monday in Rabat, enabling the central bank to benefit from advanced digital services linked to Morocco’s electronic national identity card system.

The agreement also aims to protect the bank’s administrative facilities and secure the transport of funds nationwide, the two parties said in a statement.

It added that under the newly signed protocol, Bank Al-Maghrib will integrate the DGST’s digital identity verification platform into its operations.

This system, leveraging the electronic national ID, will allow the bank to enhance its identity verification processes in real-time, both for in-person and remote services.

The platform will also aid in combating identity fraud by minimizing manual data-entry errors and streamlining customer identification.

The move comes as part of broader efforts to improve service quality in the country’s economic sector. With this advanced system, Bank Al-Maghrib will now be able to utilize identity data embedded in the national ID card for secure and efficient operations.

Additionally, the protocol establishes a framework for technical cooperation between the two institutions, including sharing expertise in training and the implementation of best practices for the use of digital identity systems.

In tandem with the digital identity initiative, Bank Al-Maghrib and DGST signed a separate agreement to strengthen the physical security of the bank’s headquarters, branches, and money transport operations.

Rooted in Article 74 of Bank Al-Maghrib’s Organic Law, the agreement mandates the DGST to provide human and technical resources to safeguard the bank’s facilities across Morocco.

The directorate will provide security at 22 locations, including the bank’s main office, its museum, and regional branches.

The agreement also addresses securing the transportation of funds and valuables, with the DGST providing personnel, while Bank Al-Maghrib supplies the necessary logistical support to ensure safe and efficient money transfers across the country. 

This partnership reflects an ongoing effort to enhance both the technical and operational capacities of Morocco’s central bank, ensuring the highest levels of security and trust for its clients and operations.