Islamic Banking Surges in Morocco: Participatory Bank Financing Up 47.5% in February

Communicating on the monetary statistics for the month of February 2021, Bank Al-Maghrib (BAM) indicates that these financings are divided between real estate (12.37 MMDH), consumption (1.01 MMDH), equipment (878 million dirhams) and treasury (20 million dirhams).

In terms of refinancing, particularly the "Wakala bil Istithmar" product and demand deposits received from central banks, the commitments of participatory banks have climbed to more than 4.9 billion dirhams with banks, specifies BAM, noting that checking accounts and current accounts have risen by 41.2% to 4.11 billion dirhams, while investment deposits reached 1.08 billion dirhams.