Financing granted by participatory banks increased by 47.5%, year-on-year, reaching over 14.36 billion dirhams in February, 2021, Bank Al-Maghrib (BAM), Morocco’s Central Bank said.
Financing is divided between real estate (12.37 billion dirhams), consumption (1.01 billion dirhams), equipment (878 million dirhams), and cash (20 million dirhams), according to BAM monetary statistics for February 2021.
Commitments of participatory banks amounted to more than 4.9 billion dirhams with banks and this, mainly in the form of refinancing through the “Wakala bil Istithmar” (investment agency contract) product and demand deposits received from parent banks.
Checking and current accounts have risen by 41.2% to 4.11 billion dirhams, while investment deposits have reached 1.08 billion dirhams, BAM concluded.
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