As part of its commitment to foster financial empowerment, financial independence, and inclusion around the world, TerraPay, a leading global payment infrastructure company, has announced its partnership with Attijariwafa bank, Morocco's largest banking group by market capitalization, to facilitate money transfers worldwide in real time and transparently directly to bank accounts in Morocco.

This partnership will allow Attijariwafa bank to tap into TerraPay's well-established global partner networks and receive inbound cross-border payments from various shipping partners in 200 countries. Thanks to this collaboration, TerraPay will be able to take advantage of Attijariwafa bank's expertise in person-to-person payments and its strong presence in the region to expand its network in

Morocco is the third-largest recipient of remittances in Africa (after Nigeria and Egypt) and a constantly expanding market. Money transfers from members of the Moroccan diaspora reached 93.3 billion dirhams ($9.95 billion) at the end of December 2021, compared to 68.18 billion dirhams ($7.27 billion) in 2020, an increase of 36.8% or 25.07 billion dirhams ($2.67

About this partnership, Bassem Awada, managing director of the MENA region and global vice president of major partnerships at TerraPay, said: “Morocco is a competitive market and has a large diaspora for remittances. We are thrilled to welcome Attijariwafa bank as our trusted partner for instant global payments in Morocco. This partnership is a first for TerraPay in Morocco and allows us to deepen our network and expand TerraPay's global footprint.

Mr. Adnane Driouech, Head of Global and Corporate Cash Management at Attijariwafa Bank, added: “We are pleased to partner with TerraPay. Its extensive global payments network, partners, and infrastructure will play a critical role in facilitating instant international money transfers for our customers. Our integration with TerraPay has allowed our customers to receive cross-border payments directly from over 200 countries in a transparent, secure, and instant manner.

About TerraPay:

Based in the United Kingdom, TerraPay believes that the smallest payment deserves a borderless journey as secure as the biggest. The group has built a constantly expanding payment channel that allows businesses to create transparent customer experiences with an uninterrupted, secure, and real-time international passage for every payment, whether of small or large value. Registered and regulated across 27 global markets, TerraPay is one of the leading global partners for banks, mobile wallets, money transfer operators, merchants, and financial institutions, creating a wider and inclusive international financial ecosystem. With access to a vast network of more than 7.5 billion bank accounts and more than 2.1 billion mobile wallets, in 110 receiving countries and 208 sending countries, TerraPay partners are becoming guides to the promise of global financial inclusion

About Attijariwafa Bank

Attijariwafa bank is the leading banking and financial group in the Maghreb and a key player in the CEMAC and UEMOA zones. In addition to its banking activities, the Attijariwafa bank group is active in various financial services through its specialized subsidiaries: insurance, real estate credit, consumer credit, leasing, asset management, stock market intermediation, private banking, consulting, long-term leasing, factoring, etc

Based in Morocco, the bank is present in 26 countries: in Africa (Egypt, Tunisia, Mauritania, Senegal, Burkina-Faso, Ivory Coast, Mali, Togo, Niger, Congo, Gabon, Cameroon, Chad) and in Europe (Belgium, France, Germany, Italy, Netherlands, Spain and Switzerland) through majority-controlled local banks and their subsidiaries, and in Dubai, Riyadh, London and Montreal through representative offices.

In addition, Attijariwafa bank has 5,835 branches (as of December 31, 2021) with more than 20,590 employees and a portfolio of around 10.8 million customers.