Morocco’s participatory bank officials are looking forward to 2019 with much hope to bring Takaful insurance into existence to allow for a full start to the products proposed by Islamic finance and thus attract more customers. After achieving modest results a year and a half after the launch of participatory …
Read More »Zakat Al-Fitr: The Council of Ulemas sets the amount to be given
The Higher Council of Ulemas has unveiled the amount of the Zakat Al Fitr for the year 1440 AH. According to a statement from the Council, the amount is 13 dirhams per person. Zakat is a pillar of Islam. It is an alms operation on the occasion of Aid El …
Read More »Participatory banks: New products for 2019 and 2020
Currently only Murabaha real estate and movable is marketed It is by far the best-known product of the five approved products and the most popular among Moroccans. It is a sales contract whereby the participating bank acquires movable or immovable property with a view to reselling it to its client …
Read More »Participatory banks: Arreda opens 12 points of sale
As part of the roll-out of its participatory activity, Arreda, Crédit du Maroc’s participative window, announces the opening of new outlets at the disposal of its future customers and partners to get closer to its customers in many regions in Morocco, notably Rabat, Marrakech, Oujda, Tangier, Agadir, Fez and Casablanca. …
Read More »Marrakech: IsDB launches global platform for the private sector
The Islamic Private Sector Development Corporation (ICD), a multilateral organization affiliated with the Islamic Development Bank (IsDB), has launched a global platform for the promotion of the sector in Marrakech at the IsDB’s Private Sector Forum. In this platform, a community of like-minded financial entities can collaborate on business opportunities, …
Read More »Doha to host global summit on Islamic finance next week
A “meticulously chosen” line- up of central bankers, scholars and experts from more than 22 countries in East Asia, Africa and Europe will converge in Qatar on March 19 to participate in the fifth Doha Islamic Finance Conference. They will share their expertise and insights on a broad range of …
Read More »Casablanca to host First “Africa Sukuk Conference” on Sharia Bonds
The Islamic Finance Advisory and Assurance Services (IFAAS) consultancy firm and the Kramer Levin law firm have collaborated to present the inaugural Africa Sukuk Conference on Sharia-compliant bonds. The event is scheduled for March 19-20 at Sofitel Hotel in Casablanca. The conference will gather potential sukuk issuers, investors, and regulators …
Read More »Islamic Banks looking for 2019 to launch Takaful Insurance
Morocco’s participatory bank officials are looking forward to 2019 with much hope to bring Takaful insurance into existence to allow for a full start to the products proposed by Islamic finance and thus attract more customers. After achieving modest results a year and a half after the launch of participatory …
Read More »Marrakesh will host the 44th annual meeting of the IsDB
The Islamic Development Bank (IsDB) will hold its meetings of the Boards of Governors and General Assemblies on April 5 and 6, 2019 in Marrakesh. For two days, there will be several strategic meetings of the group: * The 44th Annual Meeting of the Board of Governors of the Islamic …
Read More »Bank Al Yousr inaugurates a new agency in Morocco
As part of its regional development plan, Bank Al Yousr, the Banque Populaire group’s participating bank, inaugurated its new branch in Fez. Bank Al Yousr thus extends the scope of its national network to seven agencies in five regions (Casablanca, Fez, Marrakesh, Rabat and Tangiers). It aims eventually to cover …
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