Islamic finance in Morocco
Morocco's central bank, Bank Al-Maghrib, will allow ijara, musharaka and murabaha products to be offered by banks in Morocco. A statement released by the Central Bank said Islamic finance will "allow a widening of banking services and contribute to a higher rate of banking in the economy"
Kuwait Global Investment House launches an Islamic fund. The $350 million fund will invest in "Gulf Arab companies that are compliant with with the Islamic sharia principles".
Dubai Islamic Bank aims to raise $800 million for an Islamic private equity fund to invest in energy & telecom projects.
Islamic finance will continue to rely on the Cayman Islands as a center for sukuk because of its light regulatory environment.