Morocco: Integrated Solar Energy Generation Project

Morocco set to approve 10 Islamic banks before the end of 2016

2016/07/04 Morocco’s Central Bank has said it would start approving Islamic banks this year with the aim of allowing business to begin in early 2017. The central bank said it had received seven requests to open Islamic banks and three to open windows selling Islamic products. Two Gulf banks want to establish fully owned subsidiaries while four others are partnering with local banks, an official said.

Morocco: Reflections on Europe

2016/06/28 With growing economic prosperity and continuing political stability, Morocco continues to attract foreign investors. With an increasing focus on encouraging international commercial dispute resolution in Casablanca, the country is seeking to present itself as a business hub, as law firms push to open up in the region. Natasha Mellersh reports. For Morocco, its proximity to Europe has been significant throughout its history. The late King Hassan of Morocco described Morocco as “a tree whose roots reach deep into the African soil and whose leaves breathe in the winds of Europe”.

French manufacturers in Morocco Factories in the sun

2016/06/21 CONSIDERING the help provided to large foreign manufacturers in Morocco over the completed few years, it would have taken a critical effort by them to fail. Renault, a French carmaker, for example, is thriving: of 2.8m cars it made globally last year, one in ten trundled out from its two shiny assembly plants in Tangier and Casablanca. It hopes from presently on to make 400,000 cars a year.

REITs to drive commercial real estate growth in Morocco

2016/06/11 The roll out of new investment vehicles is helping stoke growth in Morocco’s commercial real estate sector. Last year Morocco passed legislation allowing for the creation of real estate investment trusts (REITs). Under the law, REITs are required to invest at least 60% of their assets in real estate, while the remainder can be invested in other assets to help diversify their investment portfolio.   In early 2016 the European Bank for Reconstruction and Development (EBRD) joined forces with Moroccan retail distributor Label Vie Group by investing in its retail real estate subsidiary Vecteur LV (VLV). The aim of both the EBRD and Label Vie is to launch the country’s inaugural REIT and attract more investment in Morocco’s real estate sector.