IFSB Sec-Gen: Morocco well positioned to become regional Islamic finance hub

Speaking on the sidelines of the 23rd Islamic Financial Stability Forum, held this week in Rabat, Ghiath Shabsigh, Sec-Gen of the Islamic Financial Services Board (IFSB), told local media that “we are impressed by the regulatory strides and the structured dialogue on Sharia compliance,” he said. “These efforts are part of a broader strategy led by Bank Al-Maghrib to foster a robust and sustainable financial system.” Shabsigh went on to say that Morocco could expand its presence in the global Islamic finance industry, pointing to the introduction of sovereign Sukuk.  “To build investor confidence and improve financing conditions, Morocco should focus on establishing a strong domestic Sukuk market in dirhams,” he said. “This would pave the way for future issuances in foreign currencies.”