Tunisia: The Attijari bank finances the acquisition of the SNCFT locomotives
The Attijari bank, the Tunisian subsidiary of the Moroccan group the Attijariwafa bank, will co-finance the acquisition of 20 locomotives by the SNCFT. This material is intended for the transport of Tunisian phosphate by railway. The Attijari bank is pursuing its policy of financing the Tunisian economy and its commitment to contribute to the financing of major projects initiated by Tunisia. In this context, the Tunisian subsidiary of the Attijariwafa bank group has just announced an agreement with the SNCFT on the co-financing of the acquisition of 20 locomotives. This agreement, signed on Monday the 20th of February in Tunis, concerns a total amount of 167 million Dinar granted by a banking pool (STB, BT, UIB, ATB and BNA) of which the Attijari bank is the leader. From this banking pool, the Attijari bank provides the largest share of the financing by granting 80 million Dinar to the SNCFT. This loan with a ten years repayment term, with two years of deferred, Is guaranteed by the Tunisian State.
Banks: the rating of the professional customers will be available soon
Several banks are setting up or improving their internal rating systems dedicated to professionals. They want to control risks in this increasingly dominant segment of their business. The first rating reports, which are available on request, are expected by the end of the year.
E-commerce: APEBI proposes an exemption of the VAT
For the Moroccan Federation of Information Technology, Telecommunications and Offshoring (APEBI), 90% of transactions related to E-commerce are actually made by cash on delivery. To boost the sector, the federation proposes in particular an exemption from VAT. The ICT federation also works on the question of the reliability of digital means of payment by examining ways to combat the high rate of card rejection. "We have studied your causes of oerejet and have provided a report in this sense to the GPMB and the MIC," says Raffi. The National Telecommunications Regulatory Agency, NTRA, would also floor on the establishment of a mobile payment platform which should improve the use of electronic payment. In addition, the GCMC continues to study grant files of the E-tick label to several major players in E-commerce.
The new instruments of the expected financial risks coverage
Expected changes in the coverage of financial risks, including those related to fluctuations in exchange rates. The general instruction of exchange operations (IGOC) 2017, developed by the Exchange Office, in consultation with other actors, including BAM and the Ministry of Finance, brings new measures to the benefit of operators.
The CIH: The detail of the digital banking strategy
The CIH Bank has successfully bet on the digital banking making the bank a continental reference in the field. Pioneer on the native integrated digital banking services, the financial establishment did not skimp on the means to achieve it. It took nearly 500 million Dirham, 4 years of development and two years more to carry out this mission. The series of innovations launched by the bank has overtaken the whole sector and created, for the CIH Bank, a real break with the image of the past. Interview with Ahmed Rahhou, the CEO of the CIH since October 2009, who has managed the bet of the digital banking and makes the bank the reference operator in the field. Pioneer on the natively integrated digital banking services, the CIH Bank can boast of being a continental reference in this area. The establishment did not skimp on the means to achieve it.
Exchange flexibility: The traders are worried, BAM reassures
"The exchange offices are wondering about the consequences of the exchange rate regime flexibility on their activities. The sensitization actions will be scheduled to accompany them," said Officials from BAM. Faced with the banks competition, the funds transfer operators and the so-called sub-delegated entities (the hotels, the RAM agencies, the casinos,...etc.), the exchange offices, to a 620 number , according to statistics gathered yesterday at the Exchange Office, rely so far on an impressive commercial strike force with relatively competitive tariffs. The customers have the possibility to negotiate the price within a fixed range each morning by the Central Bank, between the minimum purchase price and the maximum selling price of each currency.
The Banque Populaire opens a new agency in Las Palmas
In continuation of its proximity policy, Banque Populaire opened its branch in Las Palmas. The inauguration of this agency led by Driss Louryagli in May 2016, was welcomed by the Moroccan community of the Canary Islands, the MLAs who found it very difficult to manage their accounts or who, for the most part, hesitated to move to Morocco to open one. The first goal of this agency was to bank the Moroccans residing abroad and to support the Spaniards who want to invest in Morocco. An initiative which was welcomed by the Moroccans of the Canary Islands, especially that the agency is still in line with its policy of proximity. The Bank organized tours of mobile banks in several islands of the Archipelago, whether in the town halls in consultation with the Moroccan consulate in Las Palmas, or by conducting direct prospecting visits with Moroccan traders and investors, an initiative that saved them time and expense...
The laborious beginnings of the Maghreb Bank (BMICE), an UMA symbol in roadstead
"The five Maghreb countries have agreed to release a capital quarter of the BMICE by means of 150 million Dollar envelope," said its General Manager Noureddine Zekri on Friday. The news, announced during a conference under the theme of "the implantation of Tunisian companies in Algeria: The partnership and the economic complementarity" is undeniably good. It is also welcomed that the first branch will be opened in Mauritania before the end of 2017. This good news is immediately tempered when we remember that the project of the Maghreb Bank of investment has been endorsed by the governments of the Maghreb Union countries in 1991.
Rahhou claims a real digital bank for the CIH Bank
Ahmed Rahhou, the CEO of the CIH Bank, explained that the difference between his bank and the others in the digital matters is that the operations carried out on the application or the net directly impacts the bank's system. In contrast, at the others, the operations are recorded, processed and injected into the system at night. In fact, in 4 years, with an investment of 400 MDH, the computer system of the CIH, has been reformed to become integrated and natively digital.
S & P: It is time for Morocco to release the convertibility of the Dirham
Analysts at the US financial rating agency, S & P, believe that the external and internal contexts in the kingdom are increasingly favorable for such an action. The release of the convertibility of the Dirham in Morocco becomes a priority, according to several international financial bodies. After the IMF, which made it its main recommendation to the Kingdom, here is added to this movement, the rating agency, Standard & Poor's - S & P. Obviously, in a report published in the 16th of February, S & P argued for an acceleration of the process of liberating the convertibility of the Moroccan Dirham, which the financial authorities of the kingdom, notably BAM, would be fine-tuning soon. S & P, one of the world's top four rating companies, said the macroeconomic context in Morocco is very favorable to the release of the Dirham.
Takaful: What will Wafa Assurance do?
Like other companies, the Wafa Assurance is preparing to host the Takaful, whose legislative framework has already been put in place. "Application circulars are expected in the early March," said Mr. Ali Harraj, the CEO of the Wafa Assurance, who was speaking at the presentation of the company's annual results. "Our record is virtually complete," he said. "the Wafa Assurance will develop a strong partnership with the subsidiary of Attijariwafa bank, Dar Assafaa, which became Bank Assafaa," he said. It should be noted that for a transitional period, participatory loans are likely to be backed by conventional insurance. Except in Morocco, the transition may last. Really last, when we know that several laws sleep in the drawers for months, even years, for lack of decrees of application. In this respect, these delays should not skew the spirit behind participatory finance.
The BMCE Bank of Africa Group, an active partner of the Moroccan-African economic dynamic
The BMCE Bank of the Africa Group is an active partner in the exceptional economic dynamics of His Majesty the King Mohammed VI in the multidimensional partnership between Morocco and the various African countries.
The banks with knives drawn on the loans!
The competition between the banks reached new heights in 2016, as evidenced by the market share figures established by the GPBM. In the deposit collection, the BMCE Bank of Africa and the CIH bank have improved their weight, the first thanks to the DAT and the second to the clientele of the young people. The leading duo, the Attijariwafa bank and the Banque Populaire, managed to consolidate their shares. In the distribution of loans, the Attijariwafa bank signs a strong return thanks to the fall in interest rates, alongside the Société Générale, which has granted more than a 10% of new financing.
Amina Benkhadra to the CIH Bank Council
The Administration Council of CIH Bank announced the co-opting of Amina Benkhadra (NOHM) as an independent Administrator. In addition, Yassine Haddaoui was co-opted as a permanent Representative of Massira Capital. These new Administrators replace Amine Benhalima and Said Laftit.
The Attijariwafa bank and the Ghana Commercial Bank (GCB Bank Ltd) sign a memorandum banking agreement
In the wake of the royal tour in Africa, the Attijariwafa bank recently signed a memorandum agreement with a Ghanaian bank, the Ghana Commercial Bank (GCB Bank Ltd.). The purpose of this memorandum agreement is to strengthen the collaborative efforts between the two banks in terms of the correspondent banking, as well as in the financing of the investment, the trade and more generally the projects in the African continent. The convention was signed by Mohamed El Kettani, the President and the General Manager of the Attijariwafa bank and by Samuel Sarpong, the Chief Operating Officer and the Executive Manager of CGB Bank Ltd. "This agreement is the first step in a long-term partnership between our two institutions," says Mr.Sarpong. "From now on, we will concentrate on setting up a real business facilitating platform for the Ghanaian, the Moroccan and the African companies which intend to develop the trade and investment flows across Africa." Mohamed El Kettani, for his part, believes that the signing of this memorandum stems from a "strong confidence in the considerable and impressive potential of Ghana." The GCB Bank is the second largest institution in Ghana in terms of assets (valued at 1.2 billion Dollar at the end of 2015) and the most extensive in terms of branch network (161). Its shareholders' equity amounted to 194 million Dollar, and employs more than 1,900 employees. Originally owned by the Government of Ghana at its inception, the shareholding of the latter does not exceed a 21.4% at present. The remainder of a 78.6% is held by the institutional and private investors. The GCB Bank Ltd is also listed on the Ghana Stock Exchange.
Umnia Bank, the participatory bank of the CIH ends
The CIH Bank Group has finalized its participatory bank project. The establishment will bear the name of Umnia Bank. Its legal structure is ready and the group is waiting for the publication of the approval to the BO and the completion of the ecosystem to launch the activity of this subsidiary that associates the Qatari QIIB and the CDG group.
Mr. Mohamed Hdid as a representative of the CDM bond mass
Crédit du Maroc has convened, in the 30th of March 2017, a general meeting of the bond mass issued in the 21st of December 2016. The goal is to appoint Mr. Mohamed Hdid as permanent representative of this bond group
Crédit : IMPERIUM MEDIA
