Morocco: “Halal” credits boost real estate

“Halal” real estate loans granted to Moroccan households have seen a considerable increase, reaching 23.1 billion dirhams at the end of June compared to 20.3 billion dirhams in the same period of the previous year, Bank Al-Maghrib indicates in a recent note.

In its latest dashboard on “bank loans and deposits,” the Bank of Morocco indicated that Islamic financing for housing in the form of “Mourabaha” increased by 13.5% compared to June 2023. Similarly, loans granted to households recorded an annual increase of 1.2%, resulting from an increase of 1.3% in real estate loans and 0.5% in consumer loans.