Morocco’s Banque Centrale Populaire, BCP, finalized Thursday the acquisition of 71 per cent stakes in Banque de Madagascar et de l’Océan Indien (BMOI), an Antananarivo-based bank owned by French group BPCE (Banque Populaire et Caisse d’épargne). The deal signed at BMOI will enable the BCP to deepen its foothold in the Indian Ocean area and […]
Armed factions in Somalia’s northern semi-autonomous state of Puntland have agreed to a ceasefire after dozens of people had been killed after the state’s parliament voted to change the region’s voting system. At least 26 people were killed and 30 injured on Tuesday (20 June) in clashes outside parliament in Garowe, the Puntland capital, between […]
The Islamic economy has for long been associated with the Islamic financial law. Based on the moral code and religious law of Islam – shari’a – Islamic banking requires very stringent capital requirements in loan markets, rejects interest rates, and promotes profit and loss sharing between the client and the bank according to the contract […]
