Finance

Bank liquidity: rising need, BAM boosts injections

29 September 2026·2 min read

Bank Al-Maghrib raises weekly injections to 150 bn DH in August (144.1 bn in July). Seven‑day advances (54.6 bn), 1‑3‑month repos (48.1 bn) and guaranteed loans for SMEs (47.3 bn) meet liquidity needs. The overnight interbank rate stays at 2.25 % on the interbank market.

Bank liquidity remains under pressure and Bank Al‑Maghrib steps up the pace. According to the DEPF’s economic note, the issuing institute raised its average weekly injections to 150 billion dirhams in August, after 144.1 billion the previous month.

This increase meets a liquidity need that shows no sign of easing. Operations focus on three main levers. Seven‑day advances absorb 54.6 billion. One‑ and three‑month repos mobilise 48.1 billion. The remainder, 47.3 billion, goes into guaranteed loans for very small, small and medium‑sized enterprises via dedicated support programmes.

On the interbank market, the weighted average overnight rate does not move. It stays pegged at 2.25 per cent, aligned with the key rate since 20 March 2025. The stability of short‑term money costs confirms that BAM’s action is sufficient to cover needs without creating overheating.

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