Moroccan banks Banque Centrale Populaire (BCP) and Banque Marocaine du Commerce Extérieur (BCME) have both revealed plans to create units offering Shariah-compliant financial services.
This launch comes in anticipation of the adoption of a new law allowing the practice of Shariah banks in Morocco. The legislative framework was prepared by the Central Bank, the Bank Al-Maghrib, and was approved by the Governing Council in January. The final step is Parliamentary approval.
