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Fitch: Deposits in Morocco Islamic Banks to Grow up to 10 %

Islamic banking products in Morocco could expand their deposit bases by 5 to 10 pc, says Fitch Ratings, noting that the ability to grow the deposit base is positive for Morocco’s economic development because deposits represent about 70% of banking sector funding. “We expect growth of participation banks in Morocco will be high initially, as […]

The U.S. trade office points to corruption of Kenyan officials

The U.S. trade office said Kenyan officials have been systematically asking bribes from U.S. investors, who complained of lack of transparency and excessive complexities and inefficiencies in the procurement process for contracts. Corruption will thwart foreign investors in Kenya where only those who pay a bribe manage to invest, said the U.S. trade office in […]

Tunisia: Bakers on strike over state’s refusal to pay €78 million subsidies; night protests continue for fifth day

Tunisian bakers have gone on strike across Tunisia to protest against the government’s reluctance to disburse around 78 million euros (TND250 million) in form of subsidy. The union of bakers of the North African country issued the strike order Tuesday. Mohamed Bouanen, the chair of the union told local media Express FM, that bakers are […]