Morocco to promote Islamic finance
The issue of Islamic finance has taken centre stage in Morocco following the Justice and Development Party's (PJD) electoral triumph. The PJD has talked of promoting Islamic finance on a number of occasions.
Bank Al-Maghrib Governor Abdellatif Jouahri stated last month that Morocco was interested in Islamic finance and viewed the idea of creating Islamic banks as part of the new financial platform in Casablanca. The new banking law will include a chapter on finance to meet the demands of sharia law.
However, according to economist Slimi Noureddine, the political will to promote Islamic finance is lacking. He underlined the idea that Morocco should take the matter in hand to benefit from Arab investment, particularly from the Gulf states.
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