According to a reporty by Ecorys, commissioned by NFX, a Dutch bank umbrella organization, Moroccans in the Netherlands transfer to Morocco between 5.5 and 8 million euro a year through mosques. Moroccans bring their money to Dutch mosques, and afterward friends or family collect the money from mosques in Morocco. The mosques settle the bills between themselves later.
Through this route the money route is hidden from inspection of the Dutch financial authorities. The mosques do not have the necessary permits for transferring money.
According to the Ecorys study, every year about 93 to 132 million euro make their way from the Netherlands to Morocco. The greatest part of the money comes from Moroccans who live in the Netherlands and support their family in their homeland. The financial contributions from the Netherlands make up 0.5% of the Moroccan GDP and the flow of money is going to continue to grow in the upcoming years.
Most of the money is transferred through banks, firms such as Western Union (through money transfers) and through exchange offices. A quarter of all transactions goes through informal channels: the money is carried as cash or transferred via mosques.
Source: Elsevier (Dutch)
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