First Independent Mena Newspaper
Morocco’s Central Bank, Bank Al Maghrib, said it will launch the gradual float of the Dirham as of June in collaboration with the IMF to reach a flexible exchange rate system. In a statement to Reuters, Governor of Bank Al Maghrib, Abdellatif Jouahri, said that the first stage of Dirham liberalization will start in June, […]
Morocco’s Central Bank announced that measures will be gradually taken to ensure a more flexible exchange rate of the Dirham amid promising macro-economic conditions marked by low oil prices and increasing demand on phosphates. The floating of the pegged dirham was encouraged by the IMF which sees in a more flexible exchange regime a move […]
Morocco’s Central Bank, Bank Al Maghrib, forcasted a 4.2% growth rate for Moroccan economy in 2017, up from 1.2% in 2016. The positive growth rate was put forward on the backdgrop of a promising crop year following abundant rainfall, the Bank said. The bank has kept its benchmark interest rate unchanged at 2.25 percent as […]
King Mohammed VI hailed the resilience shown by the economies of many Arab countries thanks to the bold structural reforms and economic diversification they embarked on and which enabled them to weather global financial crisis. In a message addressed to the 40th meeting of the council of Arab central bank governors & Arab monetary agencies, […]
Moroccan state-owned bank Credit Agricole (CAM) received the approval of the Ministry of Finance to open an Islamic subsidiary with The Islamic Development Bank (IDB), the Central Bank, Bank Al Maghrib, said in an official bulletin. Bank Al Maghrib added that it is in the final stages of launching Islamic finance industry, which is referred […]