BAM: Participatory banks and windows activity continues to grow in 2021

The 18th annual report of Bank Al-Maghrib (BAM) on banking supervision reveals that banks and participatory windows accumulated a balance sheet total of 22.1 billion dirhams (MMDH) for the year 2021, up by 32% compared to 2020.

BAM explains in this regard that this development reflects a growth in Murabaha financing in favor of customers, in the sense that Murabaha financing saw its share in the uses of participatory banking establishments increase to 87.2% against 80.4%. in 2020.

Real estate financing increased by 40% to 16.3 billion dirhams and those intended for equipment by 106% to 1.6 billion dirhams. For their part, consumer and cash financing increased by 21% to 1.3 billion dirhams. The stock of goods acquired within the framework of Murabaha operations amounted to 171.5 million dirhams.

Taken separately, the outstanding balance of Salam financing stood at 20.6 million dirhams (MDH) with a respective drop of 1.5 points to 85% and 1.2 points to 6.5% of the shares of financing real estate and consumer and cash financing, in favor of equipment financing, the share of which increased by 2.6 points to 8.4%.

Murabaha is the contract by which a participative bank sells to its client a movable or immovable property determined and owned by this bank at its acquisition cost plus a profit margin, agreed in advance. Payment by the customer for this transaction is made according to the terms agreed between the two parties.

For its part, Salam is a contract under which one of the two parties, participating bank or customer, pays in advance the full price of goods whose characteristics are defined in the contract, to the other party who undertakes to deliver a specified quantity of the said goods within an agreed period. The Salam financing product was launched in 2020.

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