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Economist: Morocco's financial sector among the best in Africa.

London - International leading think tank, the Economist Intelligence Unit (EIU), highlighted in recently published report the dynamism of Morocco's financial sector, considering it as one of the best in Africa.


The dynamism of Morocco’s financial sector, which remains one of the best in the region, will be a supporting factor for the north African country to achieve the ambition to make of the Casablanca stock exchange a regional financial center, the EIU said in its January report on Morocco.


In this respect, the EIU recalled the adoption by the Parliament of a draft law on establishing a financial center in Casablanca (Casablanca Finance City-CFC).


The new facility, which will be operational by 2014, will contribute by up to 2% to the Gross Domestic Product and create 35,000 new jobs, the EIU underlined, noting that companies benefiting from the CFC status will have access to important tax benefits.




The report said that Western investors and those from emerging markets like India and China will use the center of Casablanca as a platform to get the dividends of African markets.


It also highlighted the growth of the Moroccan banking sector and the increasingly presence of Moroccan banks in African countries such as Mali and Senegal.


The insurance industry is strongly growing, which has enabled Morocco to rank second in Africa after South Africa, the report said.