Creation of an insurance company by the "Banque Centrale Populaire"

The "Banque Centrale Populaire" (BCP) has obtained the approval of the "Commission Administraton Organisation (CAO) to create a mutual insurance company.

The new company, named Taamine Chaabi, will be endowed with an initial capital of 6.05 million USD, 5.9 million (98%) of which will be owned by the "Mutuelle Centrale Marocaine d'Assurances" (MCMA).

Taamine Chaabi is awaiting the approval of the minister of finance.

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