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With a domestic penetration rate of around 2.8% and the volume of premiums having grown 9.2% year-on-year in 2011, Morocco’s insurance market is now the second largest on the continent after South Africa and the third largest in the Arab world after Saudi Arabia and the UAE. With 17 insurers in the country, the domestic market is becoming more competitive and local players are now looking to...

Capital markets in Morocco have seen a number of difficulties in the past years, with the slowdown in the eurozone crisis and continued regional unrest putting pressure on the market. The bourse has posted losses for two years in a row, prompting calls for the accelerated institution of legislative reforms to aid regulators in stabilising operations. The Casablanca Stock Exchange is currently...

While growth at some banking institutions slowed in 2012, due mainly to the pressures of exogenous slowdowns, the sector has remained largely resilient due to prudent regulation by the central bank. The country’s banks posted aggregate net income of €3.2bn in 2011, a 9% increase over €2.9bn in 2010, which translated to 4% growth in net income that year. The government is now grappling with rising...

The Moroccan economy experienced several setbacks in 2012 due to a combination of unfavourable global economic trends, a volatile exchange rate and a drought that caused a drop in revenues from its primary sector, agriculture. However, the government is committed to addressing the most pressing concerns for the economy, having laid out development plans for the agriculture and tourism sectors. A...

Largely spared the unrest that spread through the region as part of the Arab Spring, Morocco’s stability was in part thanks to subtle shifts in power brought about through constitutional changes in 2011 that further empowered parliament and devolved some responsibilities to regional authorities. A member of several regional and international bodies, Morocco has strong relations with a range of...

Contemporary art is beginning to make a name for itself in Jeddah. In February 2012, the eyes of the contemporary art world turned to Saudi Arabia. Seven years since its foundation, and after blockbuster exhibitions in London, Venice, Berlin, Istanbul and Dubai, Edge of Arabia, a Saudi-focused contemporary arts initiative, hosted its first exhibition in Jeddah. In addition to outlining this newly...