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About 90 per cent came from Moroccan operators.

A new legal framework was implemented that will ensure an effective banking supervision system.

Most of them come from rural areas, the NDIC said.

Banks' assets have risen by more than 15 per cent annually over the past four years.

These are BNP Paribas, Citigroup, Barclays, JP Morgan, Investec, Standard Bank and Standard Chartered.

The institution received first-time Baa1 issuer rating.

The service has a minimum transfer limit of N1,000 (€4.5) and a daily transfer limit of N20,000.

It is looking to establish a basic framework for Islamic insurance in Morocco.

The IFC will provide advisory services over 15 months to Chase Bank.

The credit information should help banks conduct a proper risk assessment.

This initiative is intended to promote the spread of equity culture in the region.

The new institution should be operational in 2016.