Mrs. Nadia FETTAH, Minister of Economy and Finance, received, Wednesday 15 March 2023 at the Ministry's headquarters, a delegation headed by H.E. Engineer Hani Salem Sonbol, Managing Director of the International Islamic Trade Finance Corporation, and the Acting CEO of the Islamic Corporation for the Development of the Private Sector, both subsidiaries of the Islamic Development Bank Group.
On this occasion, the Minister reviewed the most important structural and sectoral reforms in a social sense that Morocco is pursuing, under the wise leadership of His Majesty King Mohammed VI, may God assist him, which has enabled the national economy to withstand the challenges of the global economic situation.
The Minister also stressed the tireless efforts made by our country to improve the investment climate and support the private sector, through the updating of the investment charter and the establishment of important incentives to support productive investment.
Meanwhile, Mr. Hani Salem Sonbol praised the natural and economic qualities of Morocco, which make it an important partner for international financial institutions such as the International Islamic Trade Finance Corporation and the Islamic Corporation for the Development of the Private Sector. In this context, he reviewed the balance of investment and commercial operations of the two institutions in Morocco, as well as the directions of their future programs in the Kingdom of Morocco.
Mr. Sonbol also expressed his will to develop and deepen cooperation relations between Morocco and the two institutions mentioned above, allowing the exploration of new areas of cooperation consistent with the economic and development priorities of the Kingdom.
It should be noted that the International Islamic Trade Finance Corporation started its activity in 2008 with the aim of encouraging intra- and international trade of the Member States of the Organization of the Islamic Conference by financing trade operations in accordance with the provisions of the Islamic Sharia.
For its part, the Islamic Corporation for the Development of the Private Sector, since the beginning of its activities in the year 2000, has focused on encouraging and developing the private sector in Islamic countries by financing its projects through Islamic financing methods, such as sale for al Istisna'a, Al Mourabaha, leasing and equity participation.