Islamic Banking in Morocco

The head of the risk management of one of the largest banks in Morocco discusses the upcoming islamic banking law and banking penetration rate.

“I believe we have now reached a very important level of bankarization, at about a rate of 60%. For the national economy, this is very important because for the urban population we are now about 50% but if you have a level of bankarization like this, it means the potential of bankarization in the national country is very low. That’s why I tell you that we have now been engaged in the process of bankarization of low-income people,” he says.