VOL. XLI
No. 13
30-March-1998
MOROCCO
Morocco's BMCE Sets Up Investment Subsidiary
Morocco's Banque Maroccaine du Commerce Exterieur (BMCE) announced on 24 March that itwill set up a new investment bank to benefit from the liberalization of the Moroccaneconomy. The bank - BMCE Capital - will have an initial capital of Dh100mn ($10.2mn),although this will be raised "as the market calls for it" according to officialsat the bank, with the first injection of new funds expected within the next six...
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