What is in Morocco an Islamic Mortgage for Non-Resident ?
In Morocco, Islamic Mortgage for Non-Residents refers to a Shariah-compliant home financing solution that allows Moroccans living abroad or foreign Muslims to purchase property in Morocco without engaging in interest-based loans.
The typical model involves the Moroccan Islamic bank purchasing the property chosen by the non-resident client and then entering into an agreement that allows the client to gradually acquire ownership.
In Morocco, for non-residents, halal home loans are particularly attractive as they allow investment in Moroccan real estate while maintaining compliance with Islamic faith;the financing is structured to accommodate expatriates’ needs, including cross-border payment arrangements and recognition of foreign income sources.
Is it possible in Morocco as non-resident to obtain an Islamic mortgage without Riba ?
Yes, it is possible in Morocco for a non-resident to obtain an Islamic mortgage without riba, but always within the country’s legal and religious framework on participatory finance; this means a non-resident can purchase a home in Morocco through approved Islamic contracts, without resorting to conventional interest-based loans.
Which banks in Morocco make Islamic home loans for non-resident available ?
No Moroccan bank explicitly advertises that they provide Islamic mortgages to non-residents. Here are relevant institutions and clues. You need to contact them directly to ask if they’ll extend Islamic home-financing to non-residents.
Participatory (Islamic) Banks / Institutions in Morocco
Here are some of the Moroccan banks and financial institutions known to offer Shariah-compliant / participatory finance products (e.g. Mortage-type, Murabaha, etc.):
- Bank Assafa — a participatory finance bank (subsidiary of Attijariwafa) which offers real-estate financing among its participatory finance (Islamic) products. Attijariwafa Bank
- Umnia Bank — established in 2017, part of the CIH Bank group, known to offer participatory banking services.
- Al Akhdar Bank — affiliate of Crédit Agricole du Maroc. (“Al Akhdar” means “green” in Arabic) is set up for participatory finance under CAM.
- BTI Bank — Is involved in Morocco’s participatory banking sector and has publicly said it provides Sharia-compliant real estate financing in the country.
Need to Confirm Non-Resident Eligibility
- The laws and regulations for participatory / Islamic finance in Morocco are relatively new (2017), and many terms, conditions, or eligibility rules are not always clearly published.
- While some banks list “real estate financing” among their participatory products, I didn’t find a published statement that non-residents specifically qualify for those.
- Some references explicitly state that certain Murabaha financing or participatory finance products are not available for non-residents. (For example, a mortgage comparison site or broker guide said certain Mourabaha financing was not available to foreigners / non-residents in Morocco.)
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