Islamic Finance: BCP partners with Guidance Financial Group
17 July 2014
Read by 2908 persons
Banque Populaire has signed a strategic partnership with Guidance Financial Group (GFG). Under this agreement, GFG will provide the Moroccan bank with its expertise in developing Sharia-compliant financial products, particularly in real estate and consumer goods.
The identity of the "Gulf bank operating in the Middle East, Asia and the United States" whose expertise in Islamic finance the Moroccan group BCP intends to solicit is now known. The preparations carried out throughout this year, as indicated last April to Jeune Afrique by Laidi El Wardi, General Manager of retail banking and Moroccans worldwide at BCP, seem to have come to fruition.
The Moroccan group has indeed signed a strategic partnership with Guidance Financial Group (GFG), reports the Moroccan daily l'Economiste. As part of this agreement, GFG will provide the Moroccan bank with its expertise in developing Sharia-compliant financial products, particularly in real estate and consumer goods.
This announcement comes just a few weeks after the unanimous adoption, at the end of June, by the Moroccan House of Representatives of a law authorizing the opening of "Islamic banks" in the kingdom. Banque Populaire, like its competitor BMCE, announced at the beginning of 2014 its intention to launch structures specialized in Sharia-compliant financial services.
jeuneafrique.com
Posted on July 17, 2014
The identity of the "Gulf bank operating in the Middle East, Asia and the United States" whose expertise in Islamic finance the Moroccan group BCP intends to solicit is now known. The preparations carried out throughout this year, as indicated last April to Jeune Afrique by Laidi El Wardi, General Manager of retail banking and Moroccans worldwide at BCP, seem to have come to fruition.
The Moroccan group has indeed signed a strategic partnership with Guidance Financial Group (GFG), reports the Moroccan daily l'Economiste. As part of this agreement, GFG will provide the Moroccan bank with its expertise in developing Sharia-compliant financial products, particularly in real estate and consumer goods.
This announcement comes just a few weeks after the unanimous adoption, at the end of June, by the Moroccan House of Representatives of a law authorizing the opening of "Islamic banks" in the kingdom. Banque Populaire, like its competitor BMCE, announced at the beginning of 2014 its intention to launch structures specialized in Sharia-compliant financial services.
jeuneafrique.com
Posted on July 17, 2014
