Morocco’s Islamic Banking Sector Surges: Real Estate Financing Hits 10 Billion Dirhams

With 10.09 billion dirhams, participatory financing for real estate has experienced strong growth in the first nine months of 2020. This represents an increase of +45.9% compared to the same period last year and an additional outstanding amount of 3.17 billion dirhams in one year.

As for participatory financing for consumption, it reached 917 million dirhams at the end of September 2020 (+59.7%). Participatory financing for equipment stands at an outstanding amount of 753 million dirhams with a peak of 112.8%.

At the end of September, bank credit grew by 5.2% with an outstanding amount of 945.24 billion dirhams, an improvement of 46.84 billion dirhams. As for real estate credit, it recorded a slight acceleration of 1.6% and reached 279.25 billion dirhams. Equipment loans, for their part, reached 183.63 billion dirhams (+3.4%).

On the other hand, consumer loans continue their downward trend with a decline of 2.1% at the end of September, thus returning to 54.96 billion dirhams.