Seeing demand, Morocco approves first Islamic banks
Islamic banking
Morocco - Arab Today
Morocco has become the latest Muslim-majority country to authorize Islamic banks, amid growing market demand for Sharia-compliant banking.
The Moroccan central bank announced this week it has approved five Islamic banks, fulfilling a long-standing promise of the Islamist party leading a coalition government since 2011.
Among them are leading national banks Attijariwafa, state-owned Banque Centrale Populaire and private BMCE Bank of Africa. All three hold increasing assets around French-speaking Africa.
The others are CIH Bank and Credit Agricole du Maroc.
Four of the five will be partnerships between Moroccan banks and Islamic financial institutions in the Gulf.
Morocco had long been reticent about Islamic finance, but now sees it as a growth prospect.
Sharia forbids interest, which is central to many banks’ operations.
Source: Arab News
GMT 19:30 2018 Wednesday ,03 January
EU launches last crisis-battling finance reformGMT 17:13 2017 Thursday ,14 December
South Korea bans its banks from dealing in BitcoinGMT 19:16 2017 Monday ,11 December
Britain’s smaller banks jostle for business banking grantsGMT 19:31 2017 Sunday ,10 December
Britain’s smaller banks jostle for business banking grantsGMT 17:28 2017 Thursday ,07 December
India's central bank holds rates at seven-year lowGMT 17:55 2017 Sunday ,03 December
Saudi banks prepare for riyal coinsGMT 15:10 2017 Wednesday ,29 November
Societe Generale shares climb after cost-cutting planGMT 19:22 2017 Friday ,17 November
Deutsche Boerse taps top banker as new CEO
Argentine peso starts to recover after two days of crashes
Buenos Aires - AFP
Argentina's peso began to recover on Friday as markets opened, making a tiny 0.68 percent gain after losing 20 percent of its value against the dollar over the previous twoTo partake in Beiteddine Festivals
Singer Bruni arrives in Beirut Sunday evening
Beirut - NNA
French renowned singer and supermodel, Carla Bruni, is expected to arrive this evening at Rafic Hariri International Airport in Beirut, accompanied by her husband, former French President Nicolas Sarkozy. BruniIn France
Microsoft to open 4 data centres
Paris - Al Maghrib Today
Microsoft is to open 4 data storage centers in France to meet strong customer demand for cloud computing, the head of the software giant's French operations told the Agence France-Presse onVAR in Champions League only from 2019-20 season
Moscow - AFP
UEFA are set to wait until next season before introducing Video Assistant Referees (VAR) in the Champions League, although they are still not ruling out having it in this season's final, president Aleksander Ceferin said on Friday. Ceferin has soFor $11.6 bn
Sanofi buys US haemophilia treatment firm
Paris - Al Maghrib Today
French pharmaceutical firm Sanofi said Monday it had reached an agreement to purchase US biotech company Bioverativ, which specialises in treatments for haemophilia and rare blood disorders, for $11.6 billion. Sanofi's chief executive Olivier Brandicourt said the acquisition "enhances itsParis show pays homage
To 'eternal style' of late Alaia
Paris - Al Maghrib Today
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opened Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led hisGMT 09:22 2018 Monday ,22 January
Skincare PR Performance Full Year 2017GMT 11:03 2018 Wednesday ,24 January
New hunt for flight MH370 gets under wayGMT 10:57 2017 Thursday ,21 December
Modern colorful bedroom renovationGMT 13:56 2018 Tuesday ,23 January
Puigdemont candidate for Catalan presidentGMT 10:47 2018 Wednesday ,24 January
Turkey detains dozens moreGMT 10:46 2018 Tuesday ,16 January
The Rake announces editorial updatesGMT 11:51 2018 Tuesday ,23 January
Europe brings on charm and blue skiesGMT 10:46 2017 Tuesday ,19 December
For the Variety of Interior Design StylesGMT 13:44 2018 Monday ,22 January
US Christian tourists see deep meaningGMT 10:03 2018 Tuesday ,23 January
Amazon to open first cashierless shop
GMT 01:20 2012 Friday ,02 March
Egypt's 18 days of revolution
GMT 07:10 2017 Monday ,01 May
Qatar Participates in GCC Meeting of Heads of Supreme Courts and Courts
GMT 13:50 2017 Monday ,06 November
Fiji PM pleads to world for 'urgent action' on climate change
GMT 07:25 2017 Thursday ,26 October
Deutsche Bank beats forecasts as Q3 profit more than doubles
GMT 20:13 2017 Tuesday ,25 July
Expert calls for providing others with what they need
GMT 08:57 2015 Tuesday ,29 September
Congolese 'Nzango' dances into sporting big-time
GMT 14:20 2017 Wednesday ,09 August
A Wiki way to fight fake newsGMT 23:47 2012 Thursday ,28 June
Ex-NASA astronauts aim to launch asteroid tracker
GMT 09:13 2015 Saturday ,23 May
US honors 35 university scholarship program graduates
GMT 10:35 2015 Thursday ,19 March
South Korean bank to aid Myanmar IT project
GMT 12:28 2015 Saturday ,11 July
Kristin Cavallari reveals she's expecting baby girl
GMT 01:36 2014 Wednesday ,08 October
World Bank CFO gives up bonus after uproar
GMT 03:30 2015 Friday ,27 February
Agricultural bank cancels 90% of farmers' interests
GMT 19:26 2015 Tuesday ,30 June
Slovenia sells second largest bank NKBM to US fund and EBRDGMT 10:29 2012 Saturday ,03 March
Re-entering politics after previous boycottsGMT 05:40 2012 Thursday ,19 April
Pirates go top after sharing derby spoils
GMT 21:32 2014 Wednesday ,26 November
Kuwaiti emir congratulates Saudi King on well-organised Gulf Cup
GMT 08:34 2014 Sunday ,23 November
Zamalek training sessions cancelled due to clashes
GMT 08:28 2017 Sunday ,26 March
Equipment collapse kills 9 at China power plant
GMT 19:05 2014 Monday ,24 November
Russia resolved to expand trade cooperation with Iran
GMT 04:47 2014 Sunday ,16 November
November 15 marks declaration of independence in Palestinian
GMT 10:10 2015 Friday ,12 June
FGB launches $3bn Euro-Commercial Paper Programme
GMT 07:28 2015 Saturday ,27 June
UAE ranked fifth in global readiness indexGMT 21:54 2012 Tuesday ,18 September
Al Bashir to meet Salva Kiir on Sept 23
GMT 01:36 2015 Tuesday ,31 March
Qatar stock index advances 98.42 points
GMT 14:25 2013 Tuesday ,31 December
DM launches clean up al-Nakheel campaign
GMT 20:31 2017 Wednesday ,06 September
Trump says military action against N. Korea not 'first choice'
GMT 12:55 2013 Thursday ,01 August
Greenish colour in marine environment in Algiers
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor