Islamic Finance in Morocco

Islamic Finance

Before we talk about Islamic Finance in Morocco, Let's take a look in the way of understanding Islamic finance Concept

What is Islamic Finance?

Islamic finance Concept is a relationship between financial institutions in its comprehensive concept and the institutions or individuals, to save money for those who benefit from it either for the needs of personal or for investment, by providing financial tools compliant with Sharia, such as Murabaha, "Musharaka" mean share, Ijarra and Islamic loan.

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Islamic finance in Morocco

Expected that the Kingdom of Morocco issued a law regulating integrated Islamic financial transactions such as the end of this year, in light of the growing demand for these transactions and the need for Morocco to diversify its sources of funding has, in addition to the need to issue Islamic bonds to finance major projects have.

Where the Government and the Bank of Morocco to the finalization of the draft law allows the inclusion of Islamic financing in the Moroccan banking system and to identify possible amendments to the Moroccan banking system, it is expected that the current year will witness the maturation of perceptions of the Islamic financial transactions.

Morocco is betting heavily on Islamic finance to boost its economy and develop its financial system, especially after the global economic crisis, which was behind the conventional financial system to attract a large number of investments, especially coming from the Arab Gulf.
Islamic finance offers many opportunities and possibilities in front of the Moroccan economy in light of the international crisis and reduce the possibilities of European funding.

It should be noted that Islamic finance is likely to develop in the years ahead, as the volume of the activities of Islamic banks across the world more than 1000 billion dollars, but more importantly, here is the ratio of the development activities that are likely to range between 10 and 20% per annum reverse activities traditional bank.

Expects the agency "Standard & Poor's" that the volume of transactions of Islamic financing more than 4500 billion dollars. Where these data clearly illustrate the fact that Islamic finance remains the most sophisticated and fastest in the funding formulas are available, and safer as well as on the grounds that they were not affected by economic and financial crisis since 2008.

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