Emirates Islamic Bank to Open Branches in Morocco

Emirates Islamic Bank (EIB) is willing to invest in the Moroccan Islamic banking sector in the two upcoming years. EIB’s CEO, Jamal Bin Ghalaita, said the bank is planning to explore the potentials of the Moroccan Islamic finance through a policy of acquisitions and obtaining operating licenses from regulating authorities. He added that the Moroccan Islamic banking market is among the markets with the greatest potentials for Islamic banking outside the GCC. Ghalaita also said the bank has the same planned investments in other countries with strong economic ties with the United Arab Emirates and GCC countries. He said the bank is also assessing opportunities for expansion in the coming period in Egypt and Turkey.