First Independent Mena Newspaper
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 […]
As expected, Morocco’s Central Bank has finally given its green light to five Moroccan banks to set up Islamic banks – known locally as participative banking- and allowed three banks to sell Islamic products. The regulatory approvals concern the three major Moroccan banks Attijariwafa Bank, BMCE of Africa and Banque Centrale Populaire (BCP), and two […]