March 23, 2014 / 2:16 PM / 3 years ago

Morocco's major banks, BMCE, BCP, plan Islamic subsidiaries-sources

RABAT, March 23 (Reuters) - Two of Morocco's biggest banks, BMCE and BCP are preparing to launch Islamic subsidiaries as the Moroccan parliament discusses a bill regulating Islamic banks and sukuk issues, banking sources said.

Parliament's approval will be the last step before fully-fledged Islamic banks can be established in Morocco, whether they are subsidiaries of domestic banks or foreign owned, a measure which could attract more Gulf Arab investment. (Reporting by Aziz El Yaakoubi; editing by Patrick Markey and Keiron Henderson)

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