Islamic Finance

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 …

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 …

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. …

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, …

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 …

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 …

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 …

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 …

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 …

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 …