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Morocco

Virement Instantané

Scheme name: Virement Instantané

IIPS Type: Bank

Instruments: Credit EFT, Debit EFT

Channels: Browser, App, Branch

Use cases: Transfers & remittances (P2P), Inventory & business services (B2B), Salaries & wages (B2P)

Inclusivity level: Not ranked

Year of establishment: 2023

System owner: Bank Al-Maghrib

Overseer: Bank Al-Maghrib

Operator: GSIMT

Total Participants: 19

Back to mapMore information about this topic
CategoryVirement Instantané
Geographic reachDomestic
Geographic descriptionMorocco
Scheme governanceGSIMT
Settlement agentBank Al-Maghrib
Participants - commercial banks19
Participants - MMOs0
Participants - non-bank PSPs0
Participants - MFIs0
Values 2023 not-on-us transactions (US$)غير متوفر USD
Values 2023 on-us transactions (US$)N/A
Total value of instant payment transactions 2023 (US$)N/A
Interoperability arrangementPayment system operator
Ownership modelRegulator-owned
Governance TypologyPPP
Scheme rules shared or publically available?No
Messaging standardISO 20022
Types of proxy IDsN/A
Use of open APIsN/A
QR code standard N/A
Pro-poor governanceYes
CB governance involvementYes
Expanded use casesNo
Minimum channel functionalityYes
Minimum use case functionalityNo
All licensed PSPs can participate (all-to-all interoperability)No
RecourseNo
Not-for-lossNo
StatusAlmost at basic level, potential to reach progressed level.
Strengths/driversMinimum channel is already enabled but still need enablement of the P2B use case. Already fulfills two progressed level criteria.
Areas of developmentTo reach basic criteria the systems should neable P2B in addition to P2P. Further areas of development include enabling cross-domain transactions between banks to non-banks, which could move the system to progressed level.

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