Microfinance in Morocco
Fondation Al Karama pour la microfinance (Al Karama) is a microfinance institution (MFI) in Morocco that provides microloans and technical assistance to primarily women. As one of the oldest MFIs in Morocco, Al Karama operates in six different areas through 41 agencies, including five mobile agencies which are able to reach out to more isolated rural areas. Al Karama has an active client base of 14,300, 67% of whom are women.
Al Karama is continually empowering women in rural areas through their mission to provide loans to low-income earners, who not only lack access to finance, but are also often discriminated against. Oikocredit disbursed its first loan to Al Karama in October 2014 in the amount of MAD 10 million (€922,000) which it will use to expand its operations while continually empowering women and low-income earners.