This article examines the development of Islamic finance in Morocco through a comparative analysis between Islamic banking and conventional banking. Rooted in the principles of Sharia, Islamic finance is based on the prohibition of interest (riba), the avoidance of excessive uncertainty (gharar), and the promotion of risk-sharing and asset-backed transactions. The study first presents the theoretical foundations of Islamic finance, including its historical origins, ethical principles, and main financing contracts such as Murabaha, Musharakah, Mudarabah, Ijarah, and Salam. The research then focuses on the Moroccan context, highlighting the gradual introduction of participative banking since 2007 and the regulatory reforms implemented from 2014 onward, which enabled the establishment of fully-fledged Islamic banks. Through a qualitative comparative approach, this article analyzes the key differences between Islamic and conventional banking systems in terms of legal framework, financial mechanisms, profit and risk sharing, and relationship with clients. The findings show that Islamic finance in Morocco benefits from strong growth potential driven by religious demand, political stability, and a favorable economic environment. However, its development remains constrained by several challenges, including regulatory adaptation, limited public awareness, governance issues, and a shortage of qualified human resources. The study concludes that Islamic finance represents a credible ethical alternative to conventional banking in Morocco and offers promising opportunities for financial inclusion and economic development.
ALAMI et al. (Fri,) studied this question.