Bank Chaabi intends to offer Sharia compliant accounts in Belgium

The Moroccan Bank 'Chaabi' intends to launch a Sharia compliant account in June 2012 in Brussels, Belgium, the capital of the European Union according to newspaper 'La Libre'. The project is under review and the regulatory authoritz FSMA will be contacted according to Mr. Semlali, a representative of the bank.

First Islamic current account in France

A branch of Banque Populaire du Maroc offers French retail customers Islamic current accounts. More details on their website:


Banque Populaire du Maroc aims to convert 10 % of their 300.000 clients to the new account type. Further the bank plans to offer short term Islamic mortgages (4-5 years) towards end of the year and long term mortgages next year, reported AFP on 20 June.


Banque Populaire du Maroc has a pan European strategy aiming for 40 branches throughout Europe it was announced during the opening in 2009 in the Netherlands.


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