Updated
Casablanca financial centre plans arbitration body to grow in region [Reuters]
Morocco’s Casablanca Finance City is expanding to include arbitration services for international business, modeled after Dubai:
Casablanca’s international financial centre will launch a business arbitration body this week in an effort to expand its footprint in the region, an official involved with the project said.
“In the past, African companies might go to Paris, Brussels or Geneva to resolve their business disputes,” said Said Ibrahimi, chief executive of the Moroccan Financial Board, a public-private body which oversees Casablanca Finance City.
“Now they will be able to stay in Africa and find professional services here,” he told Reuters on the sidelines of a business conference.
Morocco’s government began developing Casablanca Finance City in 2010 as a banking centre for French-speaking Africa, in the same way that Johannesburg and Mauritius serve English-speaking countries on the continent…[full story]