2023-11-08 19:36:47
“The activity of Morocco’s gross settlement system (SRBM) recorded in 2022 an increase of 24.1% in the number of payment orders from direct participants,” according to Bank Al-Maghrib (BAM).
According to data published by the Central Bank, this number increased from 220,780 operations carried out in 2021 for an amount of 4,981 billion dirhams to 274,039 operations carried out in 2022 for an amount of 5,941 billion dirhams.
“This development is the consequence of an increase in both transfers on behalf of customers (24.6%) and interbank transfers (23.3%),” explained the Bank in its Annual Report on customer infrastructure. financial markets and means of payment, their supervision and financial inclusion – Financial year 2022.
According to this document made public recently, at the end of the past year, interbank transfers represented 35% in terms of volume of payment orders from direct participants, reflecting an increase of 23.3%, going from 77,087 payment orders in 2021 to 95,031 in 2022.
The BAM report specifies that “their overall value stood at 3,652 billion dirhams in 2022 compared to 3,193 billion dirhams in 2021, an increase of 14.4% compared to the previous year”.
Still according to Bank Al-Maghrib, for this same year, transfers on behalf of customers continued to increase compared to previous years. They went from 143,693 payment orders in 2021 to 179,008 in 2022, which corresponds to an increase of 24.6%.
According to the figures, “the overall value of these orders stood at 2,289 billion dirhams in 2022 compared to 1,788 billion dirhams in 2021, thus marking a significant increase of 28%”, as highlighted in the said report.
As the Central Bank points out in its report, it is important to note that the SRBM also ensures the daily settlement of operations and net balances resulting from the multilateral clearing of all exogenous systems.
Thus, according to the public institution, “at the end of 2022, the total volume of transaction settlements and net balances resulting from multilateral clearing of all exogenous systems has increased by 19%”.
The data collected in fact shows that it stood at 15,650 billion dirhams instead of 13,112 billion dirhams recorded at the end of the previous year.
It is also important to know that during the past financial year, the rate of rejection of operations at the SRBM level, due to unavailability or insufficient provision in the central settlement accounts of the ordering participants, remained very weak. According to BAM, it recorded a monthly average of 0.02% in number and 0.04% in volume.
Bank Al-Maghrib also affirms that “no major technical incident occurred at the level of the SRBM system and all indicators recorded a monthly average value in accordance with the requirements defined in the SRBM service contract”, indicating by Consequently, the average annual availability rate of the system for the year 2022 stood at 99.96%.
Regarding the operations to switch the SRBM technical platform from the main Datacenter to the backup one and vice versa, the institution ensures that they took place successfully in compliance with the schedule initially established for this purpose.
As a reminder, an upgrade project (update) of the SRBM system was launched at the end of 2021.
Among other objectives, the project aimed to ensure compliance of this system with the new SWIFT MX ISO20022 exchange standard; review of the application and technical architecture of the solution in active/active mode via national hosting as well as the adoption of new technologies as well as the integration of new functionalities and new business needs.
As part of the same project, business specifications for the new solution had been developed and communicated to the system publisher, then discussed within the framework of the various technical-functional workshops, the Bank informed.
Alain Bouithy
1699518302
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