JTEKT plant in Tangier

Algeria Struggles to Catch up with Neighbors on Islamic Finance

Battered by the oil price slump, the underdeveloped banking sector in Algeria sees new financing sources in Islamic finance to tap into the huge informal economy and catch up with Morocco and Tunisia, which have already allowed such participatory banks to operate. As it edges towards offering banking services to suit more religiously conservative investors, […]

Moroccan cabinet approves setting up of strategic investment fund

The government council approved a decree setting up a strategic investment fund worth 45 billion dirhams to spur public-private investments. The fund is part of a stimulus package of 120 billion dirhams ($12.8 bln) to help the economy recover from the coronavirus impact. The same council extended a health emergency decree for an extra month […]

Egypt: Morsi has 48 hours to leave office

After millions of Egyptians took to the streets for the second day to protest against their incumbent president Mohamed Morsi leading to a nationwide unrest and chaos, the nation’s armed forces has given the Egyptian leaders [the president and opposition] a 48 hours deadline to “meet the demands of the people” or it will step […]