First Independent Mena Newspaper
Bahrain’s Al Baraka Bank deems that the regulatory framework in Morocco is conducive for the launch of an Islamic finance venture. The Bank’s Chief Executive, Adnan Ahmed Yousif, told Reuters that the Bank targets the expanding Islamic finance in Morocco in effort to diversify assets and revenues in Africa. Morocco is attractive for Islamic banks […]
The Executive Board of the International Monetary Fund (IMF) completed on August 1 the second review under the Precautionary and Liquidity Line (PLL) Arrangement and reaffirmed Morocco’s continued qualification for the PLL and its sound economic fundamentals. In a statement on its website, the IMF underscores Morocco’s eligibility to PLL and praises the country for […]
After a meagre growth rate of 1.2% in 2016 as a result of disappointing crop year, Morocco expects its economy to expand by 4.8% amid promising macro-economic indicators said minister of Economy and Finance, Mohamed Boussaid. The minister, who was presenting a report on the progress of the implementation of the 2017 budget in a […]
Morocco and the Kuwaiti Fund for Arab Economic Development signed a financing agreement of the second phase of the high-speed train TGV worth 474 million Dirhams. This loan attests to the strong partnership between the two countries and the interest of Kuwait in Morocco’s strategic development projects, said Morocco’s economy and finance minister Mohamed Boussaid […]
Morocco’s foreign exchange reserves stood at 201.5 billion Dirhams by July 2017, shrinking 16.4% compared to the same period last year, the Central Bank, Bank Al Maghrib said. The Bank said it maintains key interest rate at 2.33%, adding that the exchanges volume rose from 5.4 billion to 8.2 billion DH. The drop in Morocco’s […]
The African Development Bank (AfDB) approved a loan of $200 million to Morocco to boost the country’s industrialization plan, local media said. The loan will help fund the first phase of the support program of the Industrial Acceleration Plan, which aims to create 500,000 jobs by 2020 and to increase the share of industry in […]
Capital markets are reasonably deep and well developed in Morocco wherein institutional investors buy long-term senior and subordinated bonds issued by Moroccan banks, says Fitch Ratings in its latest report on Moroccan retail housing finance market. The introduction of a covered bonds market in Morocco would support continued strong growth of retail mortgage lending, adds […]
Morocco’s Banque Centrale Populaire (BCP) Group has become the largest banking group in Niger, after it finalized Tuesday the acquisition of the International Bank for Africa, so far the second-largest banking institution in the African country. With the completion of this transaction, the BCP Group holds, through its subsidiary ABI, 69.51% of the capital. BCP […]
The launch of the gradual float of the Dirham to reach a flexible exchange rate regime will not lead to currency devaluation reassured Governor of Bank Al Maghrib, Abdellatif Jouahri. Speaking at a press conference in Rabat, Jouahri played down the speculations on risks of Dirham devaluation due to the currency float saying that the […]
IFC, a member of the World Bank Group, and Proparco, a subsidiary of Agence Française de Développement (AFD), are investing €100 million and €35 million, respectively, in the first green bond issuance by Banque Centrale Populaire (BCP), to promote sustainable, environment friendly projects in Morocco. This is the first green bond issuance in foreign currency […]