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Funding from participatory banks increases by 50% in Morocco

Funding granted by participatory banks increased, year on year, by 50% to more than 18.51 billion dirhams in October 2021, according to Bank Al-Maghrib (BAM).

This financing is distributed over real estate (15.71 billion dirhams), consumption (1.13 billion dirhams), equipment (1.53 billion dirhams) and cash (35 million dirhams), specifies BAM in a document on monetary statistics for the month of October 2021.

At the same time, the commitments of the participating banks exceeded 6.44 billion dirhams with the banks, mainly in the form of refinancing through the proceeds of “Wakala bil Istithmar” and sight deposits received from parent banks, the same source said.

Checking and current accounts, meanwhile, climbed 41.9% to over 5.02 billion dirhams, while investment deposits reached nearly 1.6 billion dirhams.

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