Hiba Zahoui, head of Bank Al-Maghrib’s banking supervision department, on the state of the country’s banking sector.

Planned economic reforms are boosting confidence in Morocco, despite the setbacks of the pandemic and a drought.

Morocco’s banks have come through the dual hit to the economy of Covid-19 and a drought.

Banks across the Arab world continue to perform well despite the turbulent political environment, according to The Banker’s Top 100 Arab banks ranking. 

Home to some of Africa's largest banks, Morocco has weathered both the financial crisis and regional political upheaval. Now its financial institutions are beginning to extend their reach into the rest of the continent.

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.