Africa CEO Forum: Attijariwafa bank elected African bank of the year:
The Attijariwafa banking group received the African Bank of the Year award at the Africa CEO Forum in Geneva, Switzerland. This trophy is awarded to the African Bank which has achieved the largest growth of its activities in the continent over a recent period. There are many criteria such as the number and size of the operations carried out during the last two years, the geographical coverage of the continent, the growth of assets and the profitability over the last two years, or the participation in the major infrastructure projects and the Corporate business. The Attijariwafa bank was in competition with the Moroccan BCP, Ecobank Group, Mauritius Commercial Bank, Standard Bank Group and United Bank for Africa.
Attijariwafa bank and ITFC consolidate the intra-African economic channels:
Promoting trade between the Arab and African countries is the purpose of a memorandum agreement signed by the Attijariwafa bank and the International Islamic Trade Finance Corporation, ITFC, in the margins of the 5th edition of the International Forum of the Africa Development. This framework cooperation agreement is part of the Arab-Africa Trade Bridges program, AATB. "We aim through this program to provide financial products that meet the requirements of our member countries as well as to focus initiatives in the three sub-Saharan countries, namely Cameroon, Ivory Coast and Senegal," explains Hani Salem Sonbol, the General Manager of the ITFC. Through this partnership, a new form of cooperation is taking shape. In this regard, the ITFC is committed to providing subsidiaries of the Attijariwafa bank, AWB, with Shariah compliant funding. Furthermore, the subsidiaries of the two entities, in this case the ITFC and AWB, undertake to co-finance companies wishing to import goods from Arab countries. Commenting on this partnership, Mohamed El Kettani, the President and the General Manager of the Attijariwafa bank, said his group is committed to supporting the ITFC in fostering strong and lasting relations in the Africa and the Arab world.
BMCI unveils Nejmah, its label for the participatory bank:
BMCI is working hard to launch its participatory products. The bank unveiled in Casablanca this Monday, the 20th of March, 2017 on the sidelines of a press conference the label under which it will operate on this new segment. It is Nejmah which will group all its participatory products. It should be noted that the Moroccan subsidiary of the French banking group BNP Paribas envisages the development of some fifteen agencies spread over the entire national territory. "We are ready," said Rachid Marrakchi, the General Manager of BMCI. The bank intends to leverage its traditional network to distribute its participatory products. It expects to launch its participatory bank operations during the third quarter of 2017, based on the pending prerequisites, including Bank Al-Maghrib circulars that have not yet been validated and also those of the ACAPS.
Islamic finance: Attijariwafa Bank launches in West Africa:
The West African Development Bank (BOAD) and the Attijariwafa Bank have signed a Memorandum of Securitization Agreement, which will enable the BOAD to reinforce this new mode of financing through the Islamic finance, including the sukkuk. "To the extent that Attijariwafa has proven experience in the matter, it was felt necessary that we have this partnership agreement in order to develop, deepen and allow the extension of this instrument within our zone," explains the BOAD. This agreement, signed in Casablanca, is much an under agreement of a broader one that allows the two institutions to finance and make co-financing as well as funding arrangements. It will enhance the presence of the Islamic finance in the West African zone.
Forbes 2017: Here are the richest men of Morocco:
Forbes magazine has just published its 2017 ranking of the richest men in the world. And it's Bill Gates, the founder of Microsoft which remains the leader of the world's fortunes with a heritage estimated at 86 billion Dollar, 11 billion Dollar more than a year ago. Concerning Morocco, Ohtman Benjelloun, the President of the FinanceCom Group, is at the top of the national list with a fortune valued at 1.9 billion Dollar. It ranks the 1,098th worldwide. Comes just after, Aziz Akhannouch, the current Minister of Agriculture and Fisheries and the boss of the Akwa Group. His fortune is estimated at 1.5 billion Dollar (1.376th). He is followed by Anas Sefroui which is placed at the 1,795th position worldwide with a fortune of 1.1 billion Dollar.
The new city "Cité Mohammed VI Tanger Tech", a strategic project designed for the development of Africa (Mr. Othman Benjelloun):
"The new city "Cité Mohammed VI Tanger Tech" is a strategic project designed for the development of Africa in general and Morocco in particular," asserted, in Tangier on Monday, The CEO of the BMCE Bank of Africa Group, Othman Benjelloun. "This major project should not only promote the development of Morocco, but also, as designed, to reinforce the development of Africa as a whole," told the press Mr. Benjelloun, in the margins of the presentation ceremony of this project.
The "Worldwide Pact Network Morocco" is born:
Morocco is now one of the countries that have a local network of the "Worldwide Pact". The initiative is a United Nations one, launched in 2000 with the goal of encouraging companies to adopt a socially responsible attitude. It has 80 international and regional networks until now. The "Worldwide Pact Network Morocco" was officially launched in Casablanca last Saturday with the signing of the partnership agreement for its establishment between the President of the General Confederation of the Moroccan Companies, GCMC, Miriem Bensalah-Chaqroun, and Philippe Poinsot, the Resident Representative of the United Nations Development Program, UNDP, in Morocco. At the mean time, a financing agreement was signed between the UNDP and the leading companies that will support and accompany the implementation of this network during the first two years of its launching, the total cost of the project is 400,000 Dollar. There are seven in total: the Atlanta insurance and reinsurance company, the BMCE Bank of Africa, Cosumar, Groupe Crédit Agricole du Maroc, Lydec, Les Eaux Minérales d’Oulmès and Maroc Telecom. These companies will have to play, noting Miriem Bensalah-Chaqroun and Philippe Poinsot, the role of locomotives to encourage other companies to integrate this network. They will sit on the steering committee of the network, which will hold its first very soon, according to the signatories.
The giant industrial park project validated and presented in Tangier:
Monday, the 20th of March , will be presented to the palace of Marshan of Tangier the project of industrial park and residential Chinese. It must ultimately reach 2,000 Hectares and house cars', aeronautical and green industries. After a royal visit to Beijing in May 2016, a delegation of Chinese industrialists, including the President Li Biao of the Haite Group, came to Tangier in the following June, hosted by regional President Ilyas Elomari and Minister of Trade and Industry 'Industry Moulay Hafid Elalamy. The Chinese project presented in Tangier on Monday the 20th of March must start about ten kilometers from the Tangier Free Zone on the banks of the motorway junction between the entrance of Tangier-West (Gzénaya) and Tangier-Est (Melloussa). The main Moroccan banks - Banque Populaire, Attijariwafa Bank and the BMCE Bank of Africa- are involved in the project and market knowledge on all Moroccan-Chinese projects and Moroccan projects in Africa.
Participative banks: Abdellatif Jouahri submits the first authorization to the GSG:
The first authorization for the creation of participatory banks was submitted by Bank A-Maghrib to the General Secretariat of the Government for its publication in the Official Bulletin, announced Tuesday in Rabat, Bank Al-Maghrib's Wali, Abdellatif Jouahri. These are the BMCI and the CIH Bank in partnership with Qatar International Islamic Bank (QIIB), which will be able to offer participatory banking products, said Jouahri at a press conference held after the first meeting Quarter of 2017 of the Board of Bank Al-Maghrib, noting that the central bank has received from these two entities the legal files necessary for this purpose. "We are continuing the process of setting up participatory banks in accordance with the procedures in force," assured Mr. Jouahri, adding that the Central Bank is responsible for the finalization of matters relating in particular to taxation, Takaful and sukuks, by ensuring that "the action of its future banks is balanced and complementary".
Youssef Rouissi: Attijariwafa Bank, a commitment to inclusive growth in Africa:
Present in 15 African countries, the Attijariwafa Bank Group has embarked on a strategy of socio-economic development in an inclusive approach, notably through banking and the injection of new financial services in the countries where it is located.
Attijari Intermediation recommends buying CMT:
Attijari Intermediation recommends buying CMT following the publication of the latter's 2016 annual results, the Attijari Intermediation analysts recommend purchasing the stock with an aimed price of 1.850 Dirham, the same target price as before. They maintain this aim thanks to the good fundamentals of the mining sector coupled with the positive development prospects of the operator. Otherwise, the unexpected decrease in the dividend per share could create a sell-off pressure in the stock primarily from the investors seeking "performance".
Barid Al-Maghrib wants to innovate for its large accounts customers:
Barid Al-Maghrib intends to refine its knowledge of the key accounts customers. The group will sponsor a study of this project in the 11th of April for 1.32 million Dirham. Its goal, knowing well the needs of large accounts customers, especially from the point of view of their new requirements and expectations in terms of mail services, Amana and digital offer. This category of clientele, considered to be demanding, accounts for a significant proportion of the Group's total turnover. The major accounts customers concerned, to the number of 11, mainly in the banking, telecommunications and social welfare sectors.The BCP Group captures one third of the additional national savings of local individuals in 2016:The BCP group captured one-third of the additional national savings for local individuals for the fiscal year 2016 and improved its market share by 56 basis points.
Crédit : IMPERIUM MEDIA
