Question 1

What is Bank Al Yousr?

Accepted Answer

Bank Al Yousr is a participatory (Islamic) bank operating in Morocco as a subsidiary of the BCP Group (Banque Centrale Populaire). Founded in 2016 and launched operationally in 2017, it offers fully Sharia-compliant financial solutions to individuals, professionals, and corporations across Morocco.

The bank positions itself as a leader in Morocco's participatory banking sector, with a particular focus on small and medium-sized enterprises (SMEs) and corporate banking. Under the leadership of CEO Mouna Lebnioury since 2018, Bank Al Yousr has achieved profitability, reaching its break-even point in 2023.

Question 2

When was Bank Al Yousr founded?

Accepted Answer

Bank Al Yousr was founded in 2016 as a joint venture between Banque Centrale Populaire (BCP) and Guidance Financial Group, a global firm specialized in Sharia-compliant investment products. The bank began operations on August 3, 2017, after receiving regulatory approval on July 20, 2017.

The bank was established to meet the growing demand for Islamic banking services in Morocco and to provide ethical finance alternatives for individuals and businesses seeking Sharia-compliant banking solutions. Since its inception, the bank has focused on redefining participatory banking in Morocco through innovation and customer-centric services.

Question 3

Where is Bank Al Yousr headquartered?

Accepted Answer

Bank Al Yousr is headquartered in Casablanca, Morocco, at 162 Boulevard d'Anfa at the corner of Rue Moliere in the Anfa district. This location serves as both the bank's head office and main branch. Casablanca, as Morocco's economic capital and largest city, provides a strategic base for the bank's operations.

Question 4

Where does Bank Al Yousr operate?

Accepted Answer

Bank Al Yousr operates throughout Morocco through a network of dedicated banking branches across the Kingdom. The bank progressively expanded its branch network since its 2017 launch to serve clients across major Moroccan cities and regions.

In addition to its physical presence, the bank extends its reach through digital channels, making its services accessible to customers nationwide 24/7 through online and mobile banking platforms.

Question 5

What services does Bank Al Yousr offer?

Accepted Answer

Bank Al Yousr provides a comprehensive range of Sharia-compliant banking services including retail banking, corporate banking, and wealth management. Core products include Mourabaha (cost-plus financing), Ijara (leasing), Salam (forward sale financing), and Moudaraba (profit-sharing investment accounts).

For corporate clients, the bank offers specialized financing lines, global financing facilities, bank guarantees, and business advisory services. Retail services include current accounts, savings products, payment cards (Visa Business and Visa International Business), checkbooks, and Islamic insurance (Takaful Al Yousr) covering death and disability.

Digital services include the ALYOUSR CONNECT mobile app and web platform, enabling customers to manage accounts, make transfers, pay bills, order checkbooks and cards, and access 24/7 banking services. The bank also provides mass transfer services, direct debits, CNSS and tax telepayment, and competitive pricing with monthly flat-rate packages for businesses.

Question 6

What makes Bank Al Yousr unique?

Accepted Answer

Bank Al Yousr distinguishes itself as the bank with the highest exposure to corporate banking within Morocco's participatory banking sector, earning the "Excellence in Islamic Corporate Banking - Morocco, 2024" award. The bank was the first in Morocco to launch Salam financing, which has become one of its flagship products.

The bank maintains rigorous Sharia compliance through an internal department dedicated to following guidelines from the Higher Council of Ulama, and is the only bank in Morocco with an external Sharia expert on staff. It also conducts annual external legal Sharia audits for transparency.

Bank Al Yousr has achieved exceptional customer satisfaction rates exceeding 95% and focuses on financial inclusion by serving underserved SMEs and individuals who have self-excluded from conventional banking for religious reasons. The bank's vision is to become a digital, sustainable Islamic bank that sets the standard for participatory finance in Morocco.

Question 7

What type of financial institution is Bank Al Yousr?

Accepted Answer

Bank Al Yousr is a participatory bank (banque participative), the term used in Morocco for Islamic banks that operate according to Sharia principles. It functions as a universal bank offering retail, corporate, and investment banking services, all compliant with Islamic finance guidelines as determined by Morocco's Higher Council of Ulama.

The bank operates independently as a subsidiary of the BCP Group, one of Morocco's largest banking groups, which provides institutional backing while allowing Bank Al Yousr to specialize in participatory finance. This classification means the bank adheres to Islamic financial principles prohibiting interest (riba) and instead uses profit-sharing and asset-backed financing models.

Question 8

Who regulates Bank Al Yousr?

Accepted Answer

Bank Al Yousr is regulated by Bank Al-Maghrib (the central bank of Morocco), which oversees all banking institutions in the Kingdom. The bank must also comply with the Sharia guidelines issued by Morocco's Higher Council of Ulama (Conseil Supérieur des Oulémas), the religious authority that provides compliance certification for participatory banking products.

For its insurance brokering activities, the bank received authorization from ACAPS (the Moroccan Supervisory Authority of Insurance and Social Welfare) in June 2022, allowing it to market Islamic insurance (Takaful) products. This dual regulatory framework ensures both conventional banking standards and religious compliance for all operations.

Bank Al Yousr

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About Bank Al Yousr in Morocco