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BANKING

July 23, 2019

BTI Bank bolsters Morocco’s participatory finance sector with World Finance award

LONDON, July 23, 2019 (GLOBE NEWSWIRE) -- Morocco’s central bank propelled the nation into a new financial era in 2017 when it began allowing banks to offer sharia-compliant products and services.

The advent"...

July 23, 2019

Bank Lending Growth Limited to 0.7%, Central Bank

Casablanca - Bank lending remained sluggish, especially for enterprises, with a growth limited to 0.7 %, said the 15th edition of Annual Report on Banking Supervision by central bank (Bank Al-Maghrib), presented on Monday in Casablanca.

In"...

July 22, 2019

IMF/World Bank: 75 years as the world's financial firefighters

At the critical moment of a Hollywood movie starring A-lister Sandra Bullock, Bolivia's newly-elected president calls in the International Monetary Fund to bail out the poverty-stricken country, violating a campaign promise.

The"...

July 21, 2019

Kenya goes slow on new currency

Kenya's bid to fight money laundering and other forms of illicit financial flows by phasing out the Ksh1,000 ($10) banknote by October 1 is facing challenges that could compromise the rollout of a new currency regime.

The"...

July 18, 2019

Bank of America Reports Second-Quarter 2019 Financial Results

Bank of America reported its second-quarter 2019 financial results today. The news release, supplemental filing and investor presentation can be accessed in the following ways:

This press release features multimedia."...

July 16, 2019

Currency-in-Circulation Rises Marginally to N2.159trn

At N2.159 trillion, currency-in-circulation, on month-on-month basis, rose by 0.3 per cent at the end of April 2019, the Central Bank of Nigeria (CBN) revealed in its economic report for May 2019.
This was in contrast to the respective decline of 3.9 per cent and four per cent at"...

July 8, 2019

FCMB Opens New Branch in Ile-Ife

First City Monument Bank (FCMB) has opened a new branch in Ile-Ife, Osun State. The new branch is located at 3, Akarabata Layout (along Lagere Road), Ile-Ife. The development, according to the bank, was in line with the bank’s strategic expansion drive and commitment towards bringing"...

July 7, 2019

World Bank warns Kenya on risk of expensive loans

The World Bank has raised the red flag over the high cost at which Kenya and other African countries are borrowing commercial loans, warning of future repayment difficulties if the debts are not invested in productive projects.

The"...

July 6, 2019

Morocco’s Central Bank Investigating Strange Disappearance of MAD 1.2 Million Cash

Rabat -- Bank Al Maghrib (BAM), Morocco’s central bank, has opened investigations to determine the circumstances that led to the strange loss of MAD 1.2 million from a heavily guarded cash convoy.

In a statement,"...

June 27, 2019

Global Brands Magazine Names BMCE Bank ‘Best Financial Service Banking Brand’

Global Brands Magazine has released its 2019 award winners, and BMCE Bank has landed the title of “Best Financial Service Banking Brand” in Morocco. Attijariwafa Bank, also based in Morocco, was designated this year’s “Best Commercial Banking Brand in Morocco.” Attijariwafa is the fifth largest bank in Africa. Founded by the state in 1959, BMCE Bank is one of the oldest banks in Morocco. It now has locations in 22 countries throughout Europe, Asia, and Africa. BMCE Bank went international in 1973 when it......

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