Bank Assafa

Bank Assafa is the participatory bank of the Attijariwafa bank group, which owns it outright. It is one of the five institutions licensed by Bank Al-Maghrib in January 2017 under banking law 103-12, and each of its products receives a compliance opinion from the Supreme Council of Ulema. Its management board has been chaired since 17 November 2022 by Tarik Bernoussi, successor to Youssef Baghdadi (Boursenews). The capital, raised from 700 to 800 million dirhams by the 100 million increase approved at the 25 November 2024 meeting (Le Nouvelliste), is set to reach 900 million with the new 100 million increase put to the extraordinary meeting of 20 July 2026, fully subscribed by the parent company (Médias24).

Market: according to the Bank Al-Maghrib dashboard cited in our 2026 comparison of the 5 participatory banks, outstanding real estate Mourabaha in Morocco reached 27 billion dirhams at the end of June 2025 (+17.1%). Bank Assafa is the leading player by outstanding financing and network, ahead of Bank Al Yousr, Umnia Bank, BTI Bank and Arreda.

Assafa Sakane real estate Mourabaha: the bank buys the property and resells it to you at a price plus a fixed margin, known at signature and never revised. According to our dedicated 2026 review, the advertised margin ranges from 4.25% for the best profiles (permanent-contract executives) to 5.90% depending on scoring, with financing up to 90% of the appraised value, a 20% minimum down payment for residents, 0.50% file fees and a 4-to-6-week processing time. In our standardised simulation (MAD 1.5 million over 20 years with a 20% down payment), the effective margin retained for Bank Assafa comes to 5.10% APR-equivalent, the lowest of the five participatory banks, versus 5.20% at Arreda and 5.25% at Umnia Bank; details are in our 2026 Mourabaha comparison. Assafa Binaa finances construction on land already owned and the product is compatible with the Daam Sakane direct housing aid.

Cars, professionals, Takaful: Assafa Sayarat finances new vehicles (and used cars through partner dealers) over terms of up to 7 years; Assafa Akar Mihani and Mourabaha Tajhiz Mihani cover business premises and equipment. The bank distributes Takaful cover (Assafa Takaful Dari for the home, Assafa Takaful Ousra for the family) and launched two new Takaful products in 2025 according to its official website. The Assafa Hissab account is an interest-free current account; investment deposits are remunerated through genuine profit sharing.

Network and digital: the branch locator page lists 34 branches in around twenty cities, including 10 in Casablanca and 4 in Rabat, reaching Laayoune and Dakhla; Attijariwafa bank customers can also ask their branch for a referral. The Assafa Mobile app (iOS, Android) and AssafaNet online banking cover account management, financing tracking and transfers.

Applying for a Mourabaha, step by step: 1) simulate with our Mourabaha simulator; 2) prepare your national ID, last three payslips, three bank statements, employer certificate, preliminary sales agreement or reservation contract; 3) file the request for approval in principle in branch; 4) after the appraisal, the bank buys the property then resells it to you: two deeds signed before the notary (fees of about 1.5% of the price); 5) allow 4 to 6 weeks between a complete file and disbursement.

Complaints and recourse: first send a written complaint to the branch or customer service; reply within 40 working days. Failing a solution, refer the matter free of charge to the Moroccan Banking Mediation Centre, then to Bank Al-Maghrib; Takaful disputes fall under ACAPS. Deposits are covered by the participatory banks' guarantee fund managed by the SGFG, up to MAD 80,000 per depositor.

Wafir.ma is an independent comparison site: neither a credit institution licensed by Bank Al-Maghrib nor an insurance intermediary licensed by ACAPS. Margins quoted are observed ranges; only Bank Assafa's contractual offer is binding.