BMCE and BCP said they are planning to open Islamic subsidiaries in Morocco.

The Moroccan Times also understands that other banks are also planning to invest in this new market to get their share of the cake, especially that there good demand locally.

Moroccan Banks will be competing with well experienced Gulf countries “Islamic” banks.

It is worth pointing out that the parliament is expected to approve this year a bill regulating the work of such “Islamic” Banks/subsidiaries.

The Moroccan Times.