Fintech's Contribution To The Financial Industry In The Maghreb Countries And Achieving Financial Inclusion

Abstract

The growth of financial technology in the Maghreb region, including Algeria, Tunisia, and Morocco, has broken new business models and created more room for investment and innovation. Still, Fintech faces challenges, including cyber security and legal issues, including Recommended.

This work aimed to examine Fintech in the broader perspective of financial services in the Maghreb region. The critical question is whether developing such technologies will create more economic growth and inclusion opportunities or potentially threaten stability and the traditional banking system. So, what are the consequences of this digitization for all these stakeholders in financial services and finance? The recent findings in this report show that welfare-first policies have accelerated the growth of the Fintech sector in many countries. There is a need to promote digital finance services, organize more events, support the growth of Fintechs, and enhance people’s financial capacity to connect universities and research institutions with the public to grow this industry.