RABAT Jan 2 Morocco's Central Bank said on Monday it has approved five requests to open Islamic banks in Morocco and allowed three French banks to sell Islamic products.
The regulatory approvals concern the three major Moroccan banks Attijariwafa Bank, BMCE of Africa and Banque Centrale Populaire (BCP), and two smaller lenders Credit Agricole (CAM) and Credit Immobilier et Hotelier (CIH).
Subsidiaries of French banks Societe Generale, Credit du Maroc and BMCI won permission to sell Islamic products, a statement from Bank al-Maghrib said.
(Reporting By Aziz El Yaakoubi; Editing by Robin Pomeroy)
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