Morocco’s Bank of Africa said its 2023 profit increased 16% to 260 million dollars last year, with a net banking income of 1.7 billion dollars, up 9%. African branches contributed by 56% in this performance while Moroccan business accounted for 42% of total earnings, the bank said. Bank of Africa, previously known as […]
A parametric insurance pool, facilitated by reinsurance broker Gallagher Re, paid out $275 million to Morocco’s Solidarity Fund against Catastrophic Events (FSEC), responding to the 7-magnitude earthquake that rattled Al-Haouz region on September 8, 2023, Middle East Insurance Review reported earlier this month. The insurance broker confirmed last year that it was in touch with […]
Ahead of the parliamentary elections in Egypt, the discord between two Islamic oriented political parties is beginning to surface. Al-Nour, a Salafist political party, and the now banned Muslim Brotherhood that has been termed as a terrorist organization by the state are at a latent war over the control of Sinai. Crisis between the two […]
