How Morocco's Islamic Finance Industry Can Overcome Its Challenges

Morocco is a country with a predominantly Muslim population and a high potential for Islamic finance. However, the industry is still in its infancy and faces several structural challenges that could limit its growth and development. In this blog post, we will explore some of these challenges and how they can be addressed.

What are the challenges facing Morocco's Islamic finance industry?

According to Fitch Ratings, Morocco's Islamic finance industry was worth USD2.7 billion at end-2022, mainly dominated by Islamic banks. However, the industry faces several challenges that could hinder its full growth potential:

Underdeveloped Islamic finance ecosystem and regulations: The industry lacks a comprehensive legal and regulatory framework that covers all aspect...