The participation finance (Islamic finance) industry is poised for growth in Morocco. Initiated back in 2014 with the vote of the participation finance bill, the development of an exhaustive regulatory framework aiming to accommodate all aspects of participation finance in Morocco reached a whole new level in 2017 when the eight banks that were granted licenses in January were finally allowed – seven months later – to offer Shariah compliant products. This major milestone was preceded by the inauguration of the banks’ network of branches dedicated to participation finance activities, particularly throughout the first half of the year.

By developing a full set of regulations accommodating all aspects of the participation finance industry, the Kingdom has come a long way where participation finance is concerned. For participation banks, the top priority is certainly the introduction of Takaful but some market players have mentioned the need for an Islamic asset management industry while others are calling for the Casablanca Stock Exchange to be equipped with an Islamic equity index.

Following a successful edition in 2017, IFN Morocco Forum returns to Casablanca in April 2018 to provide industry players with an invaluable chance to explore the potential of this nascent yet promising market.