Bank Accounts and Deposits

Abstract

Bank accounts and deposits serve as key instruments in the Moroccan banking system, balancing customer service provision with financial stability for banks. The legislator has regulated bank accounts through the Commercial Code and the Banking Law, defining a bank account as a consensual contract between the bank and the client aimed at recording transactions or holding funds. Bank accounts are classified into two main types: demand accounts, which allow the recording of mutual debts and enable clients to withdraw their funds at any time, and term accounts, which require funds to be frozen for a specified period in exchange for interest, with conditions ensuring the security of both parties. As for bank deposits, they consist of funds deposited by clients for safekeeping or investment purposes and are divided into demand deposits and term deposits. Investment deposits, as referenced in Law No. 103.12, are specifically allocated to investment projects under a pre-agreed arrangement. These banking instruments hold significant theoretical and practical importance, as they are subject to clear legal requirements, such as legal capacity and written formalities. They contribute to providing liquidity for banks and enabling clients to manage their funds in an efficient and structured manner.