Finance Participative : IFN Morocco Forum 2019

ifn morocco casablanca 2019

Après deux éditions réussies en 2017 et 2018, IFN Morocco Forum 2019 se tient à Casablanca le 2 avril 2019.

Le Maroc a parcouru un long chemin en élaborant une réglementation exhaustive tenant compte de tous les aspects du secteur de la finance participative. Pour les banques participatives, la priorité absolue est maintenant l’introduction de l’assurance Takaful. La nécessité de développer un secteur de la gestion d’actifs islamiques et l’introduction d’un indice d’actions islamiques à la Bourse de Casablanca font aussi partie des priorités du secteur.

About The Forum

The participation finance (Islamic finance) industry is poised for growth in Morocco. Initiated back in 2014 with the vote of the participation finance bill, the development of an exhaustive regulatory framework aiming to accommodate all aspects of participation finance in Morocco reached a whole new level in 2017 when the eight banks that were granted licenses in January were finally allowed – seven months later – to offer Shariah compliant products. By developing a full set of regulations accommodating all aspects of the participation finance industry, the Kingdom has come a long way where participation finance is concerned. For participation banks, the top priority is certainly the introduction of Takaful but some market players have mentioned the need for an Islamic asset management industry while others are calling for the Casablanca Stock Exchange to be equipped with an Islamic equity index.


09:10 – 09:15 Welcome Remarks 

09:15 – 09:30 Welcome Address & Market Overview 

09:30 – 10:30 The Big Picture: Formalizing the Islamic Finance, Banking and Takaful Ecosystem in Morocco

We assess the steps the Kingdom has taken to facilitate the Islamic finance ecosystem over the past year and ask how successful these measures have been. We discuss the introduction of the benchmark Sukuk in 2018, the initiation of the local Takaful market as well as the introduction of REITs and other investment management structures. We also discuss opportunities and challenges facing domestic Islamic banks, including successfully growing deposit bases and effectively managing liquidity.

10:30 – 11:00 Coffee & Networking

11:00 – 11:15 Case Study: Kingdom of Morocco MAD 1billion Sukuk Issuance

11:15 – 12:00 Sukuk, Capital Markets and Asset Management

Will the recent Sovereign Sukuk enable the expansion of the Moroccan sovereign, sub-sovereign and private-sector Sukuk market in support of the national development plan? What does the Sovereign mean for the local market and what investment and liquidity management opportunities does it offer domestic Islamic banks? Through an expert panel we analyze product structures, the securitization regulatory framework, ratings, structuring issues and the use of SPVs in asset transfer and ownership. We also discuss the recent launch of the Moroccan Islamic Equity Index and discuss opportunities for local capital market participants and asset managers.

12:00 – 12:15 Presentation: Gold – Opportunities for Financial Innovation

John Durham, Manager – Depository, Gold Corporation, The Perth Mint

12:15 – 12:55 Real Estate Investment Trusts and Islamic Investment Fund Structures

Through an expert panel we discuss the launch, development and regulation of REITs in Morocco: where is the market today and what will the coming year bring? How can challenges such as asset quality and diversification be overcome and what is current investor sentiment and appetite for REITs?

12:55 – 13:35 Launch and Development of the Takaful Industry in Morocco

We take a comprehensive look at the nascent domestic Takaful market, identifying challenges and asking how they can be overcome. What is the current status of the Takaful industry in terms of regulation, awarding of licenses, market readiness, product offerings and potential market penetration?

13:35 Closing Remarks & End of Forum

13:35 Luncheon

13:30 – 17:00 The IFN Morocco Dialogue

Now in its fourth year, the highly acclaimed IFN Dialogue will once again bring together a select group of Morocco’s leading Islamic finance industry’s practitioners and regulators to openly discuss the benefits and concerns facing the Shariah compliant financing and investment market today.

This thought-provoking exclusive closed-door session brings together the industry’s elite with extensive knowledge of that particular market and industry regulators. The Morocco Dialogue will consist of local regulators and industry practitioners and international key players with a solid understanding of the local market but with an outsider’s point of view.


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