Casablanca Finance City Leaps Four Places in World Ranking

Casablanca Finance City (CFC) has leapt four places in the Global Financial Centers Index 24 (GFCI24) taking the 28th position.

CFC outperformed Seoul, Taipei and Doha ranking the fourth best financial hub in the MENA region behind Dubai, Tel Aviv and Abu Dhabi.

At the international level, New York has overtaken London as the world’s most attractive financial center as Britain’s decision to leave the European Union prompts banks to shift jobs out of the city to preserve access to Europe’s single market.

Hong Kong came third followed by Singapore in the index, which ranks 100 financial centers on factors such as infrastructure and access to quality staff.

CFC offers its members an attractive value proposition and a premium “doing business” support that fosters the deployment of their activities in Africa.

CFC status offers investors tax incentives, streamlined visa and work permit application processes, and free management of assets in foreign currencies from foreign sources.

Currently, about 150 companies are labeled CFC. Over 43 pc of these companies come from Europe. They cover or target 46 African countries.

According to CFC management team, 74 pc of Moroccan investments in Africa in 2017 were made by companies with CFC status. These investments represent $3 billion.