Umnia Bank

Umnia Bank is one of Morocco's 5 participatory banks licensed by Bank Al-Maghrib under banking law 103-12 (2014). Founded in 2017 as a joint venture between CIH Bank (51%) and Qatar International Islamic Bank — QIIB (49%), it is led by Abdessamad Issami (chairman of the management board) and combines CIH's Moroccan market knowledge with QIIB's international Sharia expertise. It operates in a fast-growing market: according to the monthly bank credits-deposits dashboard of Bank Al-Maghrib, outstanding real estate Mourabaha financing in Morocco reached 27 billion dirhams at the end of June 2025, up 17.1% year on year.

2026 real estate Mourabaha: effective profit margin of 5.25 to 6.10% (conventional-APR equivalent), according to our 2026 comparison of the 5 participatory banks. Terms up to 25 years for housing — 15 years for bare land or construction, 12 years for commercial premises, per Umnia Bank's official website. Minimum down payment 15% of the purchase price, the lowest on the participatory market (25% for Moroccans living abroad), financing cap 92% of appraised value, file fees 0.45% of the financed amount. The Bayti program (working professionals under 35) grants a 0.15-point margin reduction with waived file fees. Every product is validated by the Supreme Council of Ulema.

How we compare the 5 participatory banks: Wafir.ma runs the same standardized simulation across the 5 banks (Bank Assafa, Umnia Bank, Bank Al Yousr, BTI Bank, Arreda) — MAD 1.5 million financed over 20 years with a 20% down payment — then ranks offers by effective APR-equivalent margin, total cost, minimum down payment, file fees, and branch network. 2026 ranking: Umnia Bank comes 3rd on total cost (5.25% margin, MAD 10,133 monthly payment) behind Bank Assafa (5.10%) and Arreda (5.20%), but 1st on down-payment flexibility (15% vs 20-25% elsewhere). The full methodology is detailed in our comparison guide.

Car Mourabaha (Ucars): financing for new and used vehicles — including private-party purchases — through the Ucars digital platform, over terms of up to 7 years. Umnia Bank does not publish a car margin grid: the fixed margin is disclosed at simulation stage. As a benchmark, effective margins on Morocco's participatory market range from 5.10 to 6.20% APR-equivalent in 2026 according to our comparison.

Savings and participatory investments: Sharia-compliant current account (interest-free), investment deposits (mudaraba) backed by the Mourabaha portfolio with genuine profit sharing. In late 2025 the bank communicated returns of around 3 to 3.35% on 3-to-12-month maturities (Finances News Hebdo, December 2025), and is positioning itself for the upcoming participatory mutual funds (OPCVM) opened up by the reform of Sharia-compliant investment rules.

Applying for a Mourabaha, step by step: 1) simulate your project (Wafir.ma's Mourabaha simulator or in a branch); 2) prepare the file — national ID, last 3 payslips, last 3 bank statements, employer certificate, preliminary sales agreement or off-plan (VEFA) reservation contract; 3) submit the request for approval in principle (usually answered within 5 to 10 working days); 4) after the property appraisal, the bank buys the property then resells it to you at cost plus the agreed margin: both deeds are signed before the notary (notary fees around 1.5% of the property price); 5) allow several weeks between filing a complete application and disbursement — the participatory procedure involves two sale deeds.

Network and digital services: 47 branches listed on Umnia Bank's website, covering more than 35 cities including Casablanca, Rabat, Marrakech, Tangier, Fes, Agadir, Meknes, Oujda, Kenitra, Laayoune, and Dakhla. Customer relations center at 4626 (Monday-Friday 8:30 am-6:30 pm, Saturday 10 am-3:30 pm). The UConnect by Umnia Bank mobile app (iOS and Android) covers account overview, transfers, bill payment, and real-time card blocking.

Complaints: your recourse options: first address your complaint to Umnia Bank's customer service (in a branch or via 4626) — credit institutions must reply within 40 working days. If the answer is unsatisfactory, refer the matter free of charge to the Moroccan Banking Mediation Center (CMMB), then, as a last resort, to Bank Al-Maghrib through its complaint form. Disputes over the Takaful insurance attached to the financing fall under ACAPS.

Regulatory framework and deposit guarantee: Umnia Bank's license is issued by Bank Al-Maghrib under law 103-12, and every product must obtain a compliance opinion from the Supreme Council of Ulema before marketing. Deposits are covered by the participatory banks' deposit guarantee fund — separate from the conventional banks' fund — managed by the SGFG, with compensation capped at MAD 80,000 per depositor per bank. Bank Al-Maghrib's key rate held at 2.25% (June 2026) also supports Mourabaha margin stability.

Wafir.ma compares Umnia Bank's Mourabaha margins with Morocco's 4 other participatory banks (Bank Assafa, Bank Al Yousr, BTI Bank, Arreda). Margins shown are observed ranges: only the contractual offer issued by the bank is binding.