Bank Assafa
Attijariwafa Bank's participative (Islamic) banking subsidiary, backed by Morocco's largest banking group.
Headquarters
CasablancaFounded
Launched 2017, following Morocco's 2015 participative banking law
Regulator
Bank Al-Maghrib
Parent / Group
Attijariwafa Bank (participative subsidiary)
Overview
Bank Assafa is Attijariwafa Bank's dedicated participative (Sharia-compliant) banking subsidiary, one of the first to launch after Morocco authorized participative banking in 2017. Backing from Morocco's largest banking group gives it real institutional depth relative to other participative entrants.
History
Launched in 2017 as one of the first participative banks licensed under Morocco's 2015 participative banking law, as the dedicated Sharia-compliant subsidiary of Attijariwafa Bank, Morocco's largest banking group.
Key Figures
Launched
2017
Parent group
Attijariwafa Bank
Regulatory framework
Morocco's 2015 participative banking law
Services & Investor Support
Foreign Investor Support
The clearest option for GCC-origin investors who specifically require Sharia-compliant financing structures (Murabaha, Ijara, Musharaka) rather than conventional interest-based lending.
International Presence
- Morocco-focused, with access to Attijariwafa Bank's correspondent network for participative-compliant structuring
Languages Supported
Industries Financed
ESG Financing
Available — Participative finance principles (asset-backed, risk-sharing structures) align naturally with ESG-oriented financing mandates.
Advantages for International Investors
- Full Sharia-compliant product suite backed by Morocco's largest banking group
- Genuine relevance for GCC family offices and institutional capital requiring participative structures
- Access to Attijariwafa's broader correspondent and African network for structuring
Required Documents
- Valid passport (all beneficial owners and signatories)
- Proof of address (home country, less than 3 months old)
- Company incorporation documents, if opening a corporate account
- Foreign investment declaration filed with the intermediary bank (Office des Changes regime)
- Source-of-funds documentation
- Morocco tax ID (Identifiant Fiscal), once available
Document requirements vary by account type and bank — confirm the current checklist directly with the institution, or use the Banking Guide for the general process.