Salafin

Salafin is a Moroccan financing company specialising in consumer credit. Founded in 1997 within the BMCE Bank group, now Bank of Africa, it is licensed by Bank Al-Maghrib under law 103-12 and has been listed on the Casablanca Stock Exchange since its IPO on 31 December 2007, according to the history published on its website. A joint-stock company with a management board and a supervisory board, it is run by Aziz Cherkaoui (chairman of the management board) alongside Mohamed Sbihi (sales and marketing), Mohamed Erraioui (finance and administration) and Mehdi Mrani (organisation and development); the supervisory board is chaired by Khalid Nasr, deputy chief executive of Bank of Africa, with Amine Bouabid as vice-chairman (governance). According to Bank of Africa's 2025 annual financial report, the bank holds 61.96% of the MAD 312.4 million share capital, the balance being spread among other shareholders and the free float. The head office is at Zénith Millenium, building 8, Sidi Maârouf, Casablanca; the company employs around 250 staff and spun off its IT activity in 2004 into ORUS Services, a wholly owned subsidiary.

Key 2025 figures: according to the same annual report, overall net production reached 1.3 billion dirhams (+14.9%), driven by car financing (736 million, +26.3%), personal and revolving loans (288 million, +2.8%) and partnerships and synergies (234 million, +0.9%), including 212.7 million of instant loans distributed in partnership with Bank of Africa. Net banking income came to 384 million dirhams (+1.4%), supported by LOA leasing (+22.5%) and fees (+4%). Net provisions fell 19.8% to 60.9 million, their lowest level since 2018, for a gross cost of risk of 2.6%; net income stood at 96.1 million dirhams (+3.2%). As a sector benchmark, the aggregated balance sheet of consumer credit companies published by Bank Al-Maghrib shows 52.5 billion dirhams of customer receivables at end-December 2025.

Car loans and LOA: Salafin finances new vehicles up to 90% of the price over terms of up to 72 months, either as a standard loan or as a lease with purchase option over 2 to 6 years with a minimum 10% down payment, according to its car loan page; full or partial early repayment is allowed without penalty and car insurance at a preferential rate may be offered. The company publishes no public rate grid: according to our 2026 car loan comparison, its observed rates range from 6.70 to 8.50% APR, with file fees of around MAD 400, a young-professionals offer with a reduced down payment and acceptance of used vehicles up to 10 to 15 years old with additional guarantees, versus 5.5 to 7.5% for a bank car loan that takes longer to obtain. The rate applied always remains capped by the maximum conventional interest rate set by Bank Al-Maghrib.

Personal loan, Oxygen reserve and cards: the personal loan ranges from MAD 5,000 to 200,000 with no proof of use required, for employees, civil servants, CIMR-CMR retirees, self-employed professionals, traders and artisans resident in Morocco and aged 20 or over; an answer in principle is announced within 24 to 48 hours of receiving the complete file, death and disability insurance is optional and full early repayment is penalty-free. The Oxygen credit is a revolving reserve of MAD 4,000 to 60,000 backed by Visa Oxygen Classic or Gold cards, repaid by a monthly direct debit of 5% of the granted reserve and free of charge when unused; the prepaid Oxygen Internet card is for online purchases and the NPay card allows payment in 3, 6 or 10 instalments. Salafin also offers mortgage-backed loans from MAD 50,000 to 1,000,000. For debt consolidation, our 2026 guide places Salafin between 7.0 and 9.5% APR for a cap of MAD 500,000, with fees of 1.5% capped at MAD 12,000 and a processing time of 25 to 40 days. These ranges are indicative; only the contractual offer is binding.

Network, digital and partnerships: the official website lists 22 service points, in Casablanca (Zénith, Mohamed V, Normandie…), Rabat, Salé, Mohammedia, Kenitra, El Jadida, Marrakech, Fes, Meknes, Beni Mellal, Tangier, Tetouan, Oujda and Agadir, plus correspondent branches; instant credit is distributed through the Bank of Africa network. The express loan application is made online with an immediate answer in principle, followed by filing the original documents in branch; the customer area is available on the web and through the mobile app (iOS and Android). Sales line 080 1000 100 (Monday-Friday, 9 am-5 pm). Salafin also runs a fee-business activity — scoring, credit distribution and a collection platform — for banking partners, including the collection of Bank of Africa receivables through its ORUS subsidiary.

Applying with Salafin, step by step: 1) simulate your monthly payment with our calculators; 2) gather your national ID, proof of address under three months old, last three bank statements, a cheque specimen and, depending on your status, salary certificates, proof of pension, professional card or trade register extract, plus the pro forma invoice for a vehicle; 3) submit the application online or in branch to obtain the answer in principle; 4) sign the contract and any insurance; 5) the funds are released to your account or to the vehicle seller. Under consumer protection law 31-08, you have a 7-day withdrawal period after signing a consumer credit agreement.

Complaints and recourse: first send a written complaint to customer service (080 1000 100 or in branch); a credit institution must reply within 40 working days. If unsatisfied, refer the matter free of charge to the Moroccan Banking Mediation Centre, then to Bank Al-Maghrib. Our banking mediation guide explains what to do in case of arrears. As Salafin is not a bank, it does not take deposits: the SGFG deposit guarantee does not apply.

Wafir.ma is an independent comparison site: neither a credit institution licensed by Bank Al-Maghrib nor an insurance intermediary licensed by ACAPS. Rates quoted are observed ranges, not an offer from Salafin.