Funding of participatory banks up 52.4% in Morocco

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Crowdfunding continues its dynamic observed for several months. Loans granted reached MAD 18 billion at the end of September.

This outstanding amount corresponds to a growth of 52.4% compared to the same period last year, the central bank said in its statistics released for the month of September.

By sector, real estate climbed to 15.4 billion dirhams, an increase of 5.3 billion dirhams (+52.5%), followed by consumption (MAD 1.12 billion), equipment (MAD 1.38 billion) and cash (MAD 30 million), specifies the central bank.

For their part, the commitments of participating banks amounted to approximately MAD 6.32 billion with banks, mainly in the form of refinancing through the proceeds of “Wakala bil Istithmar” and sight deposits received from parent banks.

In addition, checking and current accounts increased by 41.7% to MAD 4.8 billion, while investment deposits reached MAD 1.57 billion.