First Independent Mena Newspaper
Morocco and the Islamic Development Bank (IsDB) have sealed a new partnership program focusing on inclusive economic development, competitiveness, exports and jobs creation. The four-year action plan (2019-2022) was sealed this weekend in Marrakech on the sidelines of the 44th annual meeting of the IsDB. It was inked by President of IsDB Group Bandar Hajjar […]
King Mohammed VI has urged the Islamic Development Bank to help its member countries to diversify their economies and stimulate the private sector, a growth engine and a source for the creation of wealth. In a message to the 44th annual meeting of IDB Group, convening in Marrakech (April 5-6), the Moroccan Sovereign said most […]
Head of Morocco’s BMCE Bank, the third largest bank in the country, criticized the sale of Saham insurance business to South Africa’s Sanlam as detrimental to Morocco’s interest. Speaking at a press conference, head of BMCE Othmane Benjeloun deplored the sale worth $1.1 billion on grounds that South Africa supports the Polisario separatists. “We end […]
The board of directors of the African Development Bank (AfDB) group approved a €268 million financing to phase II of the Industrialization Acceleration Support Program in Morocco (PAAIM II), the financial institution announced on Wednesday. The objective of this program is to promote Morocco’s industrial acceleration through the deployment of industrial ecosystems, the improvement of […]
The European Bank for reconstruction and development (EBRD) has agreed to provide a €24 million loan to Tunisie Leasing and Factoring, the country’s largest leasing company. The loan will allow the Tunisian company to continue growing its network across the country and reaching SMEs in regions less well-covered by competitors. Supporting access to finance for […]
Morocco’s central bank has efficient and effective regulatory control of the banking sector contrary to what Fitch rating claimed in a recent report, said head of the bank Abdellatif Jouahri. The central bank governor, who was speaking to reporters, said Fitch was wrong in its conclusions that run contrary to what other international rating agencies […]
China has agreed to provide Morocco an economic and technical assistance worth over $14.5 million destined to finance public projects to be decided by the two partner countries. An agreement was signed in this regard Tuesday in Rabat by Moroccan minister of economy and finance Mohamed Benchaaboun and Chinese ambassador in Rabat LI L. Speaking […]
Sudanese government has signed deals for loans worth $300 million with regional Arab funds last weekend. The loans would help authorities in Khartoum to cope with the country’s economic crisis and nearly three months of street protests. According to the finance ministry, a $230 million loan deal was signed with the Abu Dhabi-based Arab Monetary […]
The African Development Bank will double its climate finance commitments for the period 2020-2025, the Bank’s President announced at the One Planet Summit taking place in Nairobi. Akinwumi A. Adesina said that the Bank would commit at least $25 billion towards climate finance. Speaking at a plenary of the Summit Thursday in the presence of […]
Morocco’s Bank Al Maghrib (BAM) and Dubai Financial Services Authority (DFSA) have agreed on Wednesday in Rabat to strengthen cooperation in financial services and in enhancing investors’ confidence. Inked by Abdellatif Jouhari, Governor of Bank Al Maghrib, and Chief Executive of the DFSA, Bryan Stirewalt, the agreement provides for coordination and cooperation between the two […]