Al Baraka Banking Group will start an Islamic financing operation in Morocco to diversify assets and revenues.
The benefit of Islamic banks is that Morocco can avoid going into business with massive lenders from western countries.
There are 19 banks in Morocco. The top three make up two-thirds of the total assets and the offshore banks make up less than five percent of the total assets.
Al Baraka is now partnered with BMCA, the third-biggest lender in Morocco, judging by revenue.
The National Oil Corporation (NOC) has confirmed that all technical and operational activities at its oil fields and ports are functioning normally and safely.
The national hydrocarbons company, SONATRACH, intends to implement an investment plan of 40 billion dollars over five (05) years, of which 51% in Dinars, in particular through the start of production and the ramp-up of several deposits, SONATRACH CEO Toufik Hakkar said Thursday in a New Year message.
National Oil Corporation acquires Norwegian Yara’s 50% stake in Libyan-Norwegian For fertilizers company “With the grace of god whom we thank, on Thursday 31/12/2020, the National Oil Corporation acquired the 50% participation of Yara, the Norwegian company.
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