Bank of China to Open Branch in Casablanca Finance City

Rabat – Rabat Bank of China, one of the five largest state-owned commercial banks in China, will soon open , in “grand style”, its Moroccan branch in Casablanca – Morocco’s business and financial center.According to the Huffington Post Maghreb, the opening of a branch of this financial institution was announced in 2014 following the visit of a delegation led by Yue Yi  Bank of China’s Executive Vice-President, who came to explore business opportunities in the Moroccan market.The same source added that Bank of China is among the companies awarded the Casablanca Finance City (CFC) status label.The CFC status, created by Law No. 44-10, as amended and supplemented by Law 68-12, is a label giving right to interesting advantages, including many tax incentives, exchange facilities as well as various facilities for doing business. The goal of the work visit of the Chinese delegation led by Yue Yi was to study the feasibility of setting up a bank branch in Morocco.During the visit, Yue Yi highlighted the Bank of China’s willingness to strengthen economic and investment relations with Morocco.Founded in 1912, Bank of China is the oldest bank in the Asian country, ranking 4th  in Forbes’ list of “World’s Biggest Public Companies in 2015”.The bank has more than 600 branches worldwide, including those in Africa. read more