London – Despite the global financial crisis, the Moroccan banking sector continued to show resilience, thanks in particular to prudent regulation, the international business intelligence firm Oxford Business Group (OBG) says.
The OBG underlines in its report 2013 on Morocco that the Moroccan banks have continued to achieve positive results espcially thanks to a robust exchange rate regime and the steady expansion of these financial institutions into African markets.
In 2011, the volume of the Moroccan banking system amounted to 121% of gross domestic product of the country, with this figure likely to increase further in case of the introduction of new banking units and new financial instruments, mainly Sharia-inspired products, the firm says.
Robust regulation has helped the Moroccan banking sector avoid the uncertainty that has gripped international financial markets over the last four years, says the report.
The report holds that the Moroccan sector looks healthy compared to many neighboring countries.
