Umnia Bank has appointed Mohamed Benazzouz as deputy chief executive officer as it looks to grow its corporate banking business and expand its presence in capital markets. Benazzouz will join the bank’s Executive Committee. He will lead its corporate banking business, strengthen ties with large companies and strategic partners, and help develop its market activities.
The bank expects Benazzouz to help expand its corporate business, grow its capital markets activities and support the bank’s wider transformation. The appointment is also aimed at strengthening the bank’s governance and reinforcing its position among businesses and investors.
Umnia Bank is a participatory bank launched in 2017 through a joint venture between CIH Bank and Qatar International Islamic Bank (QIIB). It provides Sharia-compliant banking services to individuals, professionals and businesses through branches across the country.
The participatory banking sector has continued to grow in recent years. Bank Al Maghrib said outstanding financing reached about MAD 38 billion by the end of 2025, up from around MAD 33 billion a year earlier. Most of the financing came from Murabaha home loans. Customer deposits also continued to increase as more people and businesses turned to Islamic banking services.
