Banking

Morocco’s banking sector is the most highly developed in North Africa in terms of penetration indicators and is also among the most advanced in the wider MENA region. The industry, which is in the midst of a recovery in lending growth, stands on the verge of another substantial step forward, thanks to the imminent launch of both an Islamic banking sector – backed by the creation of a wider Islamic finance system – and a new system of non-bank payment institutions. Plans are also under way to open up the microfinance segment to depositors and private operators, in addition to ongoing reforms to further bolster the financial system’s overall stability.

This chapter contains interviews with Abdellatif Jouahri, Governor, Bank Al Maghrib; and Abdulbasit Ahmad Al Shaibei, CEO, Qatar International Islamic Bank.