Finance

Islamic banks and institutions operating in Morocco closed 2018 with a net loss of MAD377 mln

Islamic banks and institutions operating in Morocco closed 2018 with a net loss of MAD377 mln
Tuesday, 23 July 2019 20:37

The 5 banks and 3 participating branches operating in Morocco recorded a negative net income of MAD377 million ($39.1 million) at the end of 2018. A year earlier, net loss was MAD175 million ($18.1 million).

According to the 2018 annual banking monitoring report published by the Central Bank of Morocco on 22 July 2019, the situation is due to “the burden of investments induced by the start of activities of these Islamic banks.”

For all these Moroccan Islamic banks, general operating expenses amounted to MAD445 million at the end of December 2018. Despite this situation, outstanding financing granted by all Islamic banks in Morocco stood at around MAD4.5 billion over the period, more than 90% of which was in the form of “Murabaha real estate” type financing and 8% as “Murabaha Automobile”.

Chamberline Moko

On the same topic
Ecobank’s 2025 results reflect the shift of a pan-African bank toward a more profitable, disciplined and long-term-oriented model. At 40, the challenge is...
Africa Re reports net profit of $199 million in 2025, up 50.62% year-on-year. Investment income reaches record $114 million while FX losses...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchise. Transaction may alter Servair Abidjan revenue...
Africa’s ultra-wealthy population expected to rise 15% by 2031 Continent’s share of global wealth declines amid faster growth...
Most Read
01

(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...

EBID makes giant strides for a green transition in west africa
02

Mobile phones have become essential tools for work, education, payments and staying connected across...

EU Mandates Removable Phone Batteries. What It Means for Africa’s Device Market 
03

Ecobank Transnational Incorporated asked shareholders to vote on a $500 million Tier 2 Eurobond...

Ecobank Calls Vote on a New $500 Million Bond, With Eyes on a June 2026 Capital Cliff
04

Africa produces what it doesn’t consume, and consumes what it doesn’t produce. That stark line captu...

“Private Investors Are Not Philanthropists: Risk Must Be Shared” — Tarek Toko Chabi, BOAD
05

Funding part of $250 million raise to boost investor confidence Fintech expands services, pr...

Nigeria Approves $75 Million Investment in Flutterwave Ahead of NGX Listing
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.