2023-08-05 03:32:37
Net savings inflows maintained their momentum in 2022, posting an increase of 5.1% to 8.9 billion dirhams (MMDH), according to the 10th annual report on financial stability, published by Bank Al-Maghrib ( BAM), the Insurance and Social Welfare Supervisory Authority (ACAPS) and the Moroccan Capital Market Authority (AMMC).
At the origin of this progress recorded despite a difficult year marked by a high level of inflation (6.6%), savings in dirhams which increased by 15.4% to 8.3 billion dirhams when the supports in units of account fell by 52.2% to reach 616.4 million dirhams (MDH), the report indicates.
With regard to the life branch (+12.5% to MAD 22.2 billion in savings), insurers remain exposed to liquidity risk insofar as the rise in rates might lead policyholders to massively buy back their savings at the search for better performance.
In addition, the increase in the cost of living under the effect of inflation reduces the purchasing power of policyholders and their ability to save. These recent developments therefore open up new prospects for the life branch, the report points out.
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