First Independent Mena Newspaper
Morocco is putting the final touches on the Takaful insurance key to a growing participatory finance triggered by real estate mainly. Speaking at a national insurance seminar, Central Bank Governor Abdellatif Jouahri said Takaful will be launched soon as the main stakeholders are working together to finalize it. A law on Takaful was approved by […]
Peer-to-peer bitcoin trading platforms have seen a rise in users from Morocco over the last three years despite a ban by the central bank of cryptocurrencies, coindesk.com said. Quoting LocalBitcoins Chief Marketing Officer Jukka Blomberg, the website said that February 2021 was the platform’s “best month ever” in Morocco in terms of trading volumes, adding […]
Morocco’s central bank revised upwards Morocco’s economic growth to 5.3% in 2021 citing the beginning of the end of the health crisis with the roll out of the vaccination campaign and a better crop year. The bank said growth will pick up from a contraction of 7% last year under the combined effect of drought […]
Queues in Algerian post offices of employees waiting to receive their salaries are getting longer as the country experiences a liquidity crisis combined with higher inflation that hit purchasing power of citizens. The cosmetic measures introduced by the government have not anticipated the cash crisis in the country where the banking system is one of […]
Morocco’s phosphate group, OCP, has secured a $350 million loan facility from the African Export-Import Bank (Afreximbank) that will support the Group’s expansion plans across Africa. The Pan-African multilateral EXIM Bank announced earlier this week the signing of the 7-year $350 million term loan facility to provide financing to OCP Group. The bank, through its […]
The Special Fund for the Management of the Coronavirus Pandemic (COVID-19) has a positive balance of nearly 3.5 billion dirhams, according to the ministry of Economy & Finance. “This account has the necessary funds to acquire the vaccines and to honor all the financial commitments of the State which fall within its field of intervention”, […]
The World Bank has lent Tunisia $100 million for the financing of the covid-19 vaccination campaign in the North African country which still counts at least 1,037 active cases. The announcement was made by Férid Belhadj, World Bank Group Vice President for Middle East and North Africa on the sideline of a meeting with President […]
Morocco’s GDP is expected to increase to 4.5 pc in 2021 as the country’s economy is recovering from a 5.9 pc decline in 2020 after growing 2.5 pc in 2019, says the African Development Bank in its latest report. During the third quarter of 2020, Morocco’s exports of automotive parts and phosphate and derivatives rebounded […]
The US will donate $2.5 million to Morocco in support of its sustained vaccination campaign, the largest in Africa and one of the top 10 most successful in the world. A spokesperson for the US embassy in Rabat said that USAID has given Morocco 10.7 million dollars in support of its coronavirus response. It is […]
The Casablanca Finance City Authority (CFCA) and the Financial Services Development Council (FSDC) of Hong Kong have agreed to strengthen cooperation and share experiences for the development of financial services industry. The agreement was inked Wednesday remotely by CEO of CFCA Saïd Ibrahimi and Head of FSDC Dr Au King-lun. The two centers will conduct […]