ZAWYA
Deputy AGM for Investment Sector at Kuwait Finance House(KFH) Shaheen Al-Ghanem stated that the Moroccan economy is becoming more attractive to foreign investment, especially in light of recent developments in Sharia regulation. KFH is looking into several opportunities with strong fundamentals and outlook.It is worth noting that KFH had received an official economy delegation that included government officials. The meetings were attended by Moroccan ambassador in Kuwait Yehia Banani, where the delegation demonstrated investment opportunities in Morocco in various fields. They also discussed the facilities offered by the government to foreign investors, and deliberated several investment projects in the fields of infrastructure, power, real estate, tourism, and industry.Banani said that Morocco has numerous investment opportunities; especially that the government is planning to build residential and industrial cities. He added that the government seeks to establish a strategic partnership with KFH to take advantage of its experiences. He added that the government is expected to issue a decree that governs Islamic financial operations before the end of this year, since Morocco needs to diversify its sources of income and to meet the growing demand for Islamic financial instruments. He went on to say that Morocco considers issuing Sukuk to finance major projects, and is keen to work with KFH. He explained that foreign investors do not pay taxes, in addition to having skillful laborers and being close to European and African markets.Treasury Department Manager Abdul Wahab Al-Roshoud stated thatKFH is interested in entering the Moroccan market, since KFH is keen to issue Sukuk and finance major projects there.The Moroccan delegation included Abdul Smad Al-Essami, Marwan Al-Mansouri,and Mohammed Ameen.
.
