Al Barid Bank, represented by its Chairman of the Management Board, Redouane Najmeddine, and Finéa, a subsidiary of the CDG Group, represented by its Managing Director, Mohammed Belmaachi, have signed a partnership agreement in favor of Moroccan VSMEs, with a view to to provide them with the necessary means to further facilitate their access to financing.
The purpose of this agreement is to further promote and strengthen the collaboration of the two establishments in the financing of Al Barid Bank’s SME customers, said Tuesday a joint press release from Al Barid Bank and Finéa.
It also aims to provide them with the financing solutions designed by Finéa, as part of a public, semi-public and private order book, adds the same source.
Through this agreement, Finéa will bring to Al Barid Bank its know-how, its technical expertise as well as the support necessary for the development of the clientele targeted by the bank. Al Barid Bank, for its part, will market within its large network of branches the financing offers designed by Finéa for the benefit of its VSME customers.
It is thanks to a total mobilization in favor of this segment of companies and through an offer of services with high added value that the two institutions will be able together to contribute effectively to consolidating the resilience of these job-creating structures, real engines of the national economy, and to strengthen their capacity to contribute to Moroccan economic growth.
“Fully in line with the deployment of the Kingdom’s New Economic Development Model, this agreement represents an important axis of partnership which further consolidates the historic cooperation between the CDG Group and Al Barid Bank, in favor of the revival of the national economy, in particular by providing more pronounced support to the Moroccan VSME”, underlines the press release.
Since its creation, Al Barid Bank has worked to provide all Moroccans with access to a wide range of simple, well thought out, useful and fair priced banking products and services.
Thus, the bank has distinguished itself since the start of its activities by the implementation of new, modern digital products and services allowing multi-channel banking operations, thus making life easier for all Moroccans. Today, with more than 7.4 million customers to its credit, and 2 million users of the Barid Bank Mobile application, Al Barid Bank is a leading player in financial and social inclusion in Morocco.
In addition, the capillarity of its network and the location of its branches, including in the most remote rural areas, allow Al Barid Bank to provide very close services to its customers by facilitating access to banking. .
Approved by Bank Al-Maghrib, Finéa, a subsidiary of the CDG Group, has as its main vocation to facilitate companies’ access to financing and public procurement, by offering them tailor-made, innovative and adapted solutions.
To do this, Finéa combines financing, co-financing and refinancing, in accordance with its strategic development plan and its positioning as a market establishment.
It is also the manager of the Guarantee Fund dedicated to Public Orders (FGCP), the purpose of which is to facilitate the conditions of access to financing for the benefit of companies awarded public contracts.