With many north African countries in political and economic turmoil, Morocco’s stability and strong growth are proving attractive for Gulf-based investors looking to access the north African market.

Morocco is on the cusp of a legislative breakthrough that will pave the way for a fully fledged Islamic finance system in the country. But with a history of failed Islamic banking experiments, on top of the usual problems associated with establishing a new market in a country, Morocco's Islamic banking sector is unlikely to take an instant hold.

The European Bank for Reconstruction and Development's managing director for the southern and eastern Mediterranean region, Hildegard Gacek, explains how expertise and past experience are now enabling the EBRD to assist Egypt, Morocco, Jordan and Tunisia through a period of great economic and political change.

Morocco’s government has managed to steer the country clear of political and economic turbulence. But, as its minister of finance and the economy explains, tough choices need to be taken to keep the country firmly on the path to growth.

The Arab Spring uprisings have brought change on an unprecedented scale to north Africa over the past couple of years, but what impact have these changes had upon the region's appetite for Islamic finance?

Arab banks offset the turmoil of the Arab Spring and offered a robust performance in 2011 with impressive growth across the key financial indicators. And with minimal exposure to the eurozone crisis, the region's banks are expected to continue their recovery from the global financial crisis.

North African capital markets were hit hard in the wake of the Arab Spring uprisings that cut through the region in 2011. Economic activity was left disjointed and north African bourses experienced sharp declines in trading. The Banker looks at whether the increased liberalisation of these countries' economies can encourage foreign investment and benefit their respective exchanges.

African banks are increasingly looking outside of their domestic markets, and many of the continent's biggest lenders are now active in multiple countries, buoyed by greater access to vast unbanked populations and a more stable political environment.