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Morocco: 6.3 Mln E-Commerce Transactions in Q1 2022

During the first quarter, Morocco recorded a total of 6.3 million payments by bank cards (Reuters)
During the first quarter, Morocco recorded a total of 6.3 million payments by bank cards (Reuters)
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Morocco: 6.3 Mln E-Commerce Transactions in Q1 2022

During the first quarter, Morocco recorded a total of 6.3 million payments by bank cards (Reuters)
During the first quarter, Morocco recorded a total of 6.3 million payments by bank cards (Reuters)

E-commerce websites and billers' websites affiliated to the Interbank Electronic Banking Center (CMI) have carried out 6.3 million online payment transactions via Moroccan and foreign bank cards, for a total amount of 2.3 billion dirhams ($230 million) during the first quarter of 2022.

The e-commerce activity is up 34.4 percent in number and 19.3 percent in amount compared to the same period of 2021, says the CMI in its latest report on the Moroccan electronic money activity.

The online payment activity of Moroccan cards showed an increase of 34.9 percent in the number of transactions to 5.9 million in the first quarter of 2022, and 15.1 percent in the amount to 2 billion dirhams ($200 million) in Q1-2022, the same source adds.

Regarding the activity of online payments of foreign cards, it has increased by 25.8 percent in number of transactions, to 388,000 transactions and by 63.3 percent in amount, to 272.4 million dirhams, says the CMI.

It noted that the activity is still very strongly dominated by Moroccan cards to the tune of 93.8 percent in number of transactions and 88.2 percent in amount.

The report also shows that merchants and e-merchants affiliated to CMI recorded 30.9 million payment transactions, by Moroccan and foreign bank cards, for a total amount of 12.1 billion dirhams, up 27.5 percent in number of transactions and 22.1 percent in amount.

By sector of activity, payments by Moroccan and foreign bank cards (in terms of volume) were made in the retail sector (22.7 percent), followed by the clothing sector (9.5 percent), gas stations (8.6 percent), restaurants (8.1 percent), hotels (7.2 percent), health (5.5 percent), furniture & electronics (4.8 percent) and other sectors (33.6 percent).

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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.