Bahrain's Al Baraka Banking Group plans to launch an Islamic finance venture in Morocco in an effort to diversify assets and revenues as the lender expands its operations in Africa, its chief executive said.
Morocco, with a predominantly Muslim population of 32 million, is the latest market to open to Islamic banking and this has attracted several new entrants.
In January, the central bank approved five applications to open Islamic banks and allowed three others to sell Islamic financial products.
https://www.zawya.com/mena/en/story/Bahrains_Al_Baraka_revs_up_Africa_footprint_with_Morocco_venture-TR20170911nL8N1LA0AGX2/
Morocco, with a predominantly Muslim population of 32 million, is the latest market to open to Islamic banking and this has attracted several new entrants.
In January, the central bank approved five applications to open Islamic banks and allowed three others to sell Islamic financial products.
https://www.zawya.com/mena/en/story/Bahrains_Al_Baraka_revs_up_Africa_footprint_with_Morocco_venture-TR20170911nL8N1LA0AGX2/
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