Bank Al-Maghrib stated that the financing granted by the participatory banks rose by about 25%, reaching nearly MAD 22.53 billion at the end of September 2022 on an annual basis.
Morocco’s central bank clarified that these financings relate, in particular, to real estate with an amount of MAD 18.66 billion, consumption (MAD 1.2 billion), equipment (MAD 2.37 billion) and the treasury (MAD 121 million).
Additionally, the commitments of the participating banks increased to about MAD 7.38 billion with the banks, mainly in the form of refinancing through the “Wakala by Investment” product and demand deposits collected by the parent banks.
Checking and current accounts also increased by 30.9%, reaching over MAD 6.02 billion, while investment deposits also amounted to about MAD 2.4 billion.
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