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66-647: Bank of Africa ( BOA ) is an international financial services group headquartered in Casablanca , Morocco . It was formed through the 2010 acquisition of Bank of Africa (est. 1982 in Mali ) by the Banque Marocaine du Commerce Extérieur ( BMCE , Arabic : البنك المغربي للتجارة الخارجية , lit.   ' Moroccan Bank of Foreign Trade ' , est. 1959), following which BMCE rebranded its commercial operations as Bank of Africa in 2020. The BMCE name survives in

132-802: A massacre of working class Moroccans, carried out by Senegalese Tirailleurs in the service of the French colonial army , was instigated just as Sultan Muhammed V was due to make a speech in Tangier appealing for independence. Riots in Casablanca took place from 7–8 December 1952, in response to the assassination of the Tunisian labor unionist Farhat Hached by La Main Rouge —the clandestine militant wing of French intelligence . Then, on 25 December 1953 (Christmas Day), Muhammad Zarqtuni orchestrated

198-713: A 35% shareholding interest, bringing financial capital and banking expertise. BMCE became majority owner of the BOA group in 2010, and held a 72.6 percent equity stake by 2013. In 2020, BMCE itself assumed the new name Bank of Africa - BMCE Group. Through successive transactions since 2004, Crédit Mutuel Alliance Fédérale has become the second major shareholder of the group with 25% of the company's equity as of end-2020. The largest shareholder remains Othman Benjelloun at 27.4 percent, through his O Capital holding company and insurance company RMA Watanya. As of end-2023, Bank of Africa S.A. (Luxembourg) remained as an internal holding company of

264-478: A bombing of Casablanca's Central Market in response to the forced exile of Sultan Muhammad V and the royal family on 20 August ( Eid al-Adha ) of that year. Morocco gained independence from France in 1956. The post-independence era witnessed significant urban transformations and socio-economic shifts, particularly in neighborhoods like Hay Mohammadi, which were deeply impacted by neoliberal policies and state-led urban redevelopment projects. On 4–7 January 1961,

330-584: A dozen deaths while the UNFP reported more than 1,000. King Hassan II blamed the events on teachers and parents, and declared in a speech to the nation on 30 March 1965: "There is no greater danger to the State than a so-called intellectual. It would have been better if you were all illiterate." On 6 June 1981, the Casablanca Bread Riots took place, which were sparked by a sharp increase in

396-487: A fully-fledged Spanish subsidiary. In 1989, it took a minority stake in the public development bank of Mali , the first expansion of a Moroccan bank into sub-Saharan Africa . In 1995, it was privatized and taken over by Othman Benjelloun through his controlling ownership of insurer Royale Marocaine d'Assurance  [ fr ] . Bank of Africa was established in late 1982, in Bamako, Mali , by local businesspeople. It

462-522: A member state of the OIF does not automatically make a country or territory "francophone" in the sense of the language having a major role in its society, be it as a working language or a strong cultural heritage to the French language. This is in part due to the OIF increasingly admitting new members based on loose criteria such as "significant second language learning" of French or parties interested in furthering

528-744: A mix of Western and multilateral development institutions, and local individuals and entities. BOA also maintains representative offices in Ethiopia , Spain , the United Kingdom , China , Italy , Germany , UAE , Belgium , Canada , and the Netherlands . Nonbank subsidiaries: Additional entities of the BOA Group: Casablanca Casablanca is Morocco's chief port, with the Port of Casablanca being one of

594-788: A policy of "asymmetrical neutrality" in favour of the Germans. French colonists in Morocco generally supported Pétain, while Moroccans tended to favour de Gaulle and the Allies . Operation Torch , which started on 8 November 1942, was the British-American invasion of French North Africa during the North African campaign of World War II . The Western Task Force, composed of American units led by Major General George S. Patton and Rear Admiral Henry Kent Hewitt , carried out

660-653: A quarry in Roches Noires , passing through the sacred Sidi Belyout graveyard. In resistance to this and the measures of the 1906 Treaty of Algeciras, tribesmen of the Chaouia attacked the locomotive, killing 9 Compagnie Marocaine laborers—3 French, 3 Italians, and 3 Spanish. In response, the French bombarded the city in August 1907 with multiple gunboats and landed troops inside the town, causing severe damage and killing between 600 and 3,000 Moroccans. Estimates for

726-406: Is Africa's third-largest in terms of market capitalization , as of December 2022. Major Moroccan companies and many of the largest American and European companies operating in the country have their headquarters and main industrial facilities in Casablanca. Recent industrial statistics show that Casablanca is the main industrial zone in the country. Before the 15th century, the settlement at what

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792-468: Is a significant financial centre , ranking 54th globally in the September 2023 Global Financial Centres Index rankings, between Brussels and Rome . The Casablanca Stock Exchange is Africa's third-largest in terms of market capitalization , as of December 2022. Francophone The Francophonie or Francophone world is the whole body of people and organisations around the world who use

858-481: Is an official language, those where it is the native language of the majority of the population, and those where the language is used as a working language of administration or where the language still has an important cultural impact and prestige. There are 50 countries and territories which fall into this category, although in some countries the Francosphere is limited to certain regions or states. Being merely

924-541: Is considered the locomotive of the development of the Moroccan economy . It attracts 32% of the country's production units and 56% of industrial labor . The region uses 30% of the national electricity production. With MAD 93 billion, the region contributes to 44% of the industrial production of the kingdom. About 33% of national industrial exports, MAD 27 billion, comes from the Grand Casablanca; 30% of

990-632: Is now Casablanca had been called Anfa , rendered in European sources variously as El-Anfa, Anafa or Anaffa, Anafe, Anife, Anafee, Nafe, and Nafee. Ibn Khaldun ascribed the name to the Anfaça , a branch of the Auréba  [ ar ] tribe of the Maghreb , though the sociologist André Adam refuted this claim due to the absence of the third syllable. Nahum Slouschz gave a Hebrew etymology, citing

1056-403: Is one of 12 major African cities ( Abidjan , Alexandria , Algiers , Cape Town , Casablanca, Dakar , Dar es Salaam , Durban , Lagos , Lomé , Luanda and Maputo ) which would be the most severely affected by future sea level rise . It estimates that they would collectively sustain cumulative damages of US$ 65 billion under RCP 4.5 and US$ 86.5 billion for the high-emission scenario RCP 8.5 by

1122-727: Is today Casablanca was founded and settled by Berbers by the seventh century BC. It was used as a port by the Phoenicians, then the Romans. In his book Description of Africa , Leo Africanus refers to ancient Casablanca as " Anfa ", a great city founded in the Berber kingdom of Barghawata in 744 AD. He believed Anfa was the most "prosperous city on the Atlantic Coast because of its fertile land." Barghawata rose as an independent state around this time, and continued until it

1188-521: The Organisation internationale de la Francophonie (OIF), a body uniting countries where French is spoken and taught. Francophonie , francophonie and francophone space are syntagmatic . This expression is relevant to countries which speak French as their national language , may it be as a mother language or a secondary language. These expressions are sometimes misunderstood or misused by English speakers. They can be synonymous but most of

1254-714: The Anfa Conference (also called the Casablanca Conference ) in January 1943. Prime Minister Winston Churchill and President Franklin D. Roosevelt discussed the progress of the war. Also in attendance were the Free France generals Charles de Gaulle and Henri Giraud , though they played minor roles and didn't participate in the military planning. It was at this conference that the Allies adopted

1320-812: The French Development Agency ), the Netherlands Development Finance Company (FMO), and Paris-based Natexis (later Natixis ). AFH / Bank of Africa Group expanded through a mix of internal growth and acquisitions, including: Meanwhile BOA established and grew operations of its own in Benin (1990), Burkina Faso (1998), Senegal (2001), the Democratic Republic of the Congo (2010), Togo (2013), and Ethiopia (2014). In 2004, in partnership with

1386-675: The French language regularly for private or public purposes. The term was coined by Onésime Reclus in 1880 and became important as part of the conceptual rethinking of cultures and geography in the late 20th century. When used to refer to the French-speaking world , the Francophonie encompasses the countries and territories where French is official or serves as an administrative or major secondary language, which spans 50 countries and dependencies across all inhabited continents. The vast majority of these are also member states of

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1452-513: The Lexicon of Gesenius : anâphâh (a type of bird) or anaph (face, figure), though Adam refuted this arguing that even a Judaized population would still have spoken Tamazight . Adam also refuted an Arabic etymology, أنف ( anf , "nose"), as the city predated the linguistic Arabization of the country, and the term anf was not used to describe geographic areas. Adam affirmed a Tamazight etymology—from anfa "hill", anfa "promontory on

1518-659: The National Union of Popular Forces -affiliated National Union of Moroccan Students, which spread to cities around the country and devolved into riots, started on 22 March 1965, in front of Lycée Mohammed V in Casablanca. The protests started as a peaceful march to demand the right to public higher education for Morocco, but expanded to include concerns of labourers, the unemployed, and other marginalized segments of society, and devolved into vandalism and rioting. The riots were violently repressed by security forces with tanks and armoured vehicles; Moroccan authorities reported

1584-510: The byline "BMCE Group" incorporated in the BOA brand identity. As of 2024, BOA's two main shareholders were Moroccan financier Othman Benjelloun and French bank Crédit Mutuel Alliance Fédérale , with around 27 and 25 percent respectively. BOA is listed on the Casablanca Stock Exchange . As of 2024, BOA was the third-largest bank in Morocco, behind market leader Attijariwafa Bank and the cooperative BCP Group . At

1650-542: The earthquake of 1755 , it was renamed " ad-Dār al-Bayḍāʾ " ( الدار البيضاء The White House ), though in vernacular use it was pronounced " Dar al-Baiḍā " ( دار البيضاء literally House of the White, although in Moroccan Arabic vernacular it retains the original sense of The White House ). The origins of the name "Casablanca" are unclear, although several theories have been suggested. André Adam mentions

1716-550: The 1860s, around 5,000 residents were there, and the population grew to around 10,000 by the late 1880s. Casablanca remained a modestly sized port, with a population reaching around 12,000 within a few years of the French conquest and arrival of French colonialists in 1906. By 1921, this rose to 110,000, largely through the development of shanty towns . The Treaty of Algeciras of 1906 formalized French preeminence in Morocco and included three measures that directly impacted Casablanca: that French officers would control operations at

1782-631: The DRC (86.6 percent), Djibouti (100 percent), France (94.8 percent), Ghana (98 percent), Kenya (89.5 percent), Ivory Coast (69.8 percent), Madagascar (61.1 percent), Mali (64.2 percent), Niger (59.1 percent), Rwanda (95 percent), Senegal (61.7 percent), Tanzania (96.2 percent), Togo (94.5 percent), and Uganda (92.2 percent), as well as minority stakes in the Banque de l'Habitat du Bénin (24.2 percent) and Banque de Crédit de Bujumbura (24.22 percent). The individual entities' other shareholders are typically

1848-505: The Moroccan banking network is concentrated in Casablanca. One of the most important exports of Casablanca is phosphate. Other industries include fishing, fish canning, sawmills, furniture production, building materials, glass, textiles, electronics, leather work, processed food, spirits, soft drinks, and cigarettes. The Casablanca and Mohammedia seaports activity represent 50% of the international commercial flows of Morocco. Almost

1914-540: The Third Republic, the French language progressively gained importance. The Académie française , a French institution created in 1635 in charge of officially determining and unifying the rules and evolutions of the French language, participated in the promotion and the development of the French language. The definition of the Francophone world is distinguished by countries and territories where French

1980-777: The bulk of the Société de Banque du Maghreb (SBM), the Moroccan subsidiary of the former CFAT, while Société Générale Morocco acquired about a fifth of the SBM's activity. BMCE then opened its first overseas branch in Paris in 1972, and listed on the Casablanca Stock Exchange in 1974. In 1975, it absorbed the Banco Español en Marruecos , headquartered in Tétouan , and in 1989 opened BMCE International in Madrid , which in 1993 became part of

2046-594: The city , especially the city center near la Fontaine, desiring more significant political reforms. On 1 November 2023, Casablanca along with Ouarzazate joined UNESCO's Creative Cities Network . Casablanca is located on the Atlantic coast of the Chaouia Plains, which have historically been the breadbasket of Morocco. Apart from the Atlantic coast, the Bouskoura forest is the only natural attraction in

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2112-466: The city are 40.5 °C (104.9 °F) and −2.7 °C (27.1 °F), respectively. The highest amount of rainfall recorded in a single day is 178 mm (7.0 in) on 30 November 2010. A 2019 paper published in PLOS One estimated that under Representative Concentration Pathway 4.5 , a "moderate" scenario of climate change where global warming reaches ~2.5–3 °C (4.5–5.4 °F) by 2100,

2178-509: The city hosted an ensemble of progressive African leaders during the Casablanca Conference of 1961 . Among those received by King Muhammad V were Gamal Abd An-Nasser , Kwame Nkrumah , Modibo Keïta , and Ahmed Sékou Touré , Ferhat Abbas . Casablanca was a major departure point for Jews leaving Morocco through Operation Yachin , an operation conducted by Mossad to secretly migrate Moroccan Jews to Israel between November 1961 and spring 1964. The 1965 student protests organized by

2244-463: The city. The forest was planted in the 20th century and consists mostly of eucalyptus , palm , and pine trees. It is located halfway to the city's international airport. The only watercourse in Casablanca is oued Bouskoura , a small seasonal creek that until 1912 reached the Atlantic Ocean near the actual port. Most of oued Bouskoura's bed has been covered due to urbanization and only

2310-427: The climate of Casablanca in the year 2050 would most closely resemble the current climate of Tripoli, Libya . The annual temperature would increase by 1.7 °C (3.1 °F), and the temperature of the warmest month by 1.6 °C (2.9 °F), while the temperature of the coldest month would actually decrease by 0.2 °C (0.36 °F). Moreover, according to the 2022 IPCC Sixth Assessment Report , Casablanca

2376-454: The customs office and seize revenue as collateral for loans given by France, that the French holding company La Compagnie Marocaine would develop the port of Casablanca , and that a French-and-Spanish-trained police force would be assembled to patrol the port. To build the port's breakwater, narrow-gauge track was laid in June 1907 for a small Decauville locomotive to connect the port to

2442-425: The demands of women's rights activists. On 16 May 2003, 33 civilians were killed and more than 100 people were injured when Casablanca was hit by a multiple suicide bomb attack carried out by Moroccans and claimed by some to have been linked to al-Qaeda . Twelve suicide bombers struck five locations in the city. Another series of suicide bombings struck the city in early 2007. These events illustrated some of

2508-495: The doctrine of "unconditional surrender", meaning that the Axis powers would be fought until their defeat. Roosevelt also met privately with Sultan Muhammad V and expressed his support for Moroccan independence after the war. This became a turning point, as Moroccan nationalists were emboldened to openly seek complete independence. During the 1940s and 1950s, Casablanca was a major centre of anti-French rioting. On 7 April 1947,

2574-504: The entire Casablanca waterfront is under development, mainly the construction of huge entertainment centres between the port and Hassan II Mosque, the Anfa Resort project near the business, entertainment and living centre of Megarama, the shopping and entertainment complex of Morocco Mall , as well as a complete renovation of the coastal walkway. The Sindbad park was also renewed with rides, games and entertainment services. Casablanca

2640-493: The foreign shareholders included BCI (16.7 percent), Mouton Roger Group (12.5 percent), Banco di Roma , Bank of America , Bank of West Africa (BWA), Banque Française du Commerce Extérieur , Commerzbank , and Skandinaviska Banken (2.8 percent each); private Moroccan shareholders held an additional 4.2 percent, while the Moroccan government retained 50 percent. In 1965 BWA, acquired that year by Standard Bank , transferred to BMCE its branch in Tangier . In 1971, BMCE took over

2706-671: The group, with its equity capital owned by Bank of Africa - BMCE Group (72.41 percent), FMO (9.41 percent), Proparco (3.73 percent), and other shareholders (14.45 percent). The sub-Saharan African country in which BOA held the most assets was Burkina Faso, followed by Ivory Coast and Benin. In total, international activities (outside Morocco) represented 32 percent of the group's consolidated assets at end-2023. Also at end-2023, Bank of Africa - BMCE Group retained direct control of operations in Morocco, while BOA SA had majority-owned subsidiaries in Benin (54.1 percent stake), Burkina Faso (56.5 percent),

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2772-679: The help of Spaniards from the nearby emporium. The town was called ad-Dār al-Bayḍāʼ (الدار البيضاء), the Arabic translation of the Portuguese Casa Branca . In the 19th century, the area's population began to grow as it became a major supplier of wool to the booming textile industry in Britain and shipping traffic increased (the British, in return, began importing gunpowder tea , used in Morocco's national drink, mint tea ). By

2838-735: The invasions of Mehdia , Fedhala , and Asfi . American forces captured Casablanca from Vichy control when France surrendered 11 November 1942, but the Naval Battle of Casablanca continued until American forces sank German submarine U-173 on 16 November. Casablanca was the site of the Berrechid Airfield, a large American air base used as the staging area for all American aircraft for the European Theatre of Operations during World War II. The airfield has since become Mohammed V International Airport . Casablanca hosted

2904-631: The largest artificial ports in Africa , and the third-largest port in North Africa , after Tanger-Med (40 km (25 mi) east of Tangier ) and Port Said . Casablanca also hosts the primary naval base for the Royal Moroccan Navy . Casablanca is a significant financial centre , ranking 54th globally in the September 2023 Global Financial Centres Index rankings, between Brussels and Rome . The Casablanca Stock Exchange

2970-434: The legal status of women in the country. About 40,000 women attended, calling for a ban on polygamy and the introduction of divorce law (divorce being a purely religious procedure at that time). Although the counter-demonstration attracted half a million participants, the movement for change started in 2000 was influential on King Mohammed VI , and he enacted a new mudawana , or family law, in early 2004, meeting some of

3036-493: The legend of the Sufi saint and merchant Allal al-Qairawani , who supposedly came from Tunisia and settled in Casablanca with his wife Lalla al-Baiḍāʾ ( لالة البيضاء White Lady ). The villagers of Mediouna would reportedly provision themselves at "Dar al-Baiḍāʾ" ( دار البيضاء House of the White ). In fact, on a low hill slightly inland above the ruins of Anfa and just to the west of today's city centre, it appears there

3102-666: The local government, it also created a specialized mortgage bank in Cotonou , the Banque de l'Habitat du Benin (BHB), which however did not develop as significantly as initially envisaged. In 2010, BOA opened a subsidiary in France, developing from an earlier representative office opened in Paris in 2000. In 2008, Luxembourg-based AFH, the parent company of the Bank of Africa Group, rebranded itself into Bank of Africa Group S.A., and BMCE took

3168-415: The organisation's promotion of human rights, democracy, international cooperation, sustainable development, cultural and linguistic diversity, and education and training. Therefore, member states such as Romania , Egypt , and Armenia which have minimal to no connection with the French language and culture should not be considered as part of the Francophone world. This vocabulary -related article

3234-626: The part south of El Jadida road can now be seen. The closest permanent river to Casablanca is Oum Rabia , 70 km (43.50 mi) to the south-east. Casablanca has a hot-summer Mediterranean climate ( Köppen climate classification Csa ). The cool Canary Current off the Atlantic coast moderates temperature variation, which results in a climate remarkably similar to that of coastal Los Angeles , with similar temperature ranges. The city has an annual average of 72 days with significant precipitation, which amounts to 412 mm (16.2 in) per year. The highest and lowest temperatures ever recorded in

3300-652: The persistent challenges the city faces in addressing poverty and integrating disadvantaged neighborhoods and populations. One initiative to improve conditions in the city's disadvantaged neighborhoods was the creation of the Sidi Moumen Cultural Center . As calls for reform spread through the Arab world in 2011, Moroccans joined in, but concessions by the ruler led to acceptance. However, in December, thousands of people demonstrated in several parts of

3366-614: The population of Casablanca. A 1937-1938 typhoid fever outbreak was exploited by colonial authorities to justify the appropriation of urban spaces in Casablanca. Moroccans residing in informal housing were cleared out of the center and displaced, notably to Carrières Centrales . After Philippe Pétain of France signed the armistice with the Nazis , he ordered French troops in France's colonial empire to defend French territory against any aggressors— Allied or otherwise—applying

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3432-699: The price of necessities such as butter, sugar, wheat flour, and cooking oil following a period of severe drought. Hassan II appointed the French-trained interior minister Driss Basri as hardliner, who would later become a symbol of the Years of Lead , with quelling the protests. The government stated that 66 people were killed and 100 were injured, while opposition leaders put the number of dead at 637, saying that many of these were killed by police and army gunfire. In March 2000, more than 60 women's groups organized demonstrations in Casablanca proposing reforms to

3498-413: The sea", ifni "sandy beach", or anfa "threshing floor"—although he determined the available information insufficient to establish exactly which. The name "Anfa" was used in maps until around 1830—in some until 1851—which Adam attributes to the tendency of cartographers to replicate previous maps. When Sultan Mohammed ben Abdallah ( c.  1710 –1790) rebuilt the city after its destruction in

3564-445: The time of Moroccan independence , the new country's banking system was dominated by French banks, namely the Banque Commerciale du Maroc controlled by Crédit Industriel et Commercial and the local operations of Banque Nationale pour le Commerce et l'Industrie , Crédit Lyonnais , and Société Générale as well as Algeria -centric Compagnie Algérienne and Crédit Foncier d'Algérie et de Tunisie (CFAT). The creation of BMCE in 1959

3630-556: The time they are complementary. The term francophonie was invented by Onésime Reclus in 1880: "We also put aside four large countries, Senegal, Gabon, Cochinchina and Cambodia, whose future from a "Francophone" point of view is still very doubtful, except perhaps for Senegal" (in French « Nous mettons aussi de côté quatre grands pays, le Sénégal, le Gabon, la Cochinchine, le Cambodge dont l’avenir au point de vue « francophone » est encore très douteux sauf peut-être pour le Sénégal »); and then used by geographers. During

3696-442: The total casualties are as high as 15,000 dead and wounded. In the immediate aftermath of the bombardment and the deployment of French troops, the European homes and the Mellah , or Jewish quarter, were sacked, and the latter was also set ablaze. As Oujda had already been occupied, the bombardment and military invasion of the city opened a western front to the French military conquest of Morocco . French control of Casablanca

3762-434: The town became an independent state once again, and emerged as a safe harbour for pirates and privateers . The Portuguese consequently bombarded the town into ruins in 1468. The town that grew up around it was called Casa Branca, meaning "white house" in Portuguese . The town was finally rebuilt between 1756 and 1790 by Sultan Mohammed ben Abdallah , the grandson of Moulay Ismail and an ally of George Washington , with

3828-658: The year 2050. Additionally, RCP 8.5 combined with the hypothetical impact from marine ice sheet instability at high levels of warming would involve up to US$ 137.5 billion in damages, while the additional accounting for the "low-probability, high-damage events" may increase aggregate risks to US$ 187 billion for the "moderate" RCP4.5, US$ 206 billion for RCP8.5 and US$ 397 billion under the high-end ice sheet instability scenario. Since sea level rise would continue for about 10,000 years under every scenario of climate change, future costs of sea level rise would only increase, especially without adaptation measures. The Grand Casablanca region

3894-486: Was a white-washed structure, possibly a Sufi zawiya that acted as a landmark to sailors. The Portuguese cartographer Duarte Pacheco wrote in the early 16th century that the city could easily be identified by a tower, and nautical guides from the late 19th century still mentioned a "white tower" as a point of reference. The Portuguese mariners calqued the modern Arabic name to "Casa Branca" ( [kazɐ'bɾɐ̃kɐ] White House ) in place of Anfa. The name "Casablanca"

3960-419: Was conquered by the Almoravids in 1068. After the defeat of the Barghawata in the 12th century, Arab tribes of Hilal and Sulaym descent settled in the region, mixing with the local Berbers, which led to widespread Arabization . During the 14th century, under the Merinids , Anfa rose in importance as a port. The last of the Merinids were ousted by a popular revolt in 1465. In the early 15th century,

4026-483: Was established in Luxembourg as a holding company for BOA Mali and operations to be added in other African countries. The objectives of AFH were to promote the establishment of banking subsidiaries across Africa, with local capital participation as a key component and to offer both management, technical support as well as equity participation in these new banking subsidiaries. To increase their capital base, AFH then took on new investors including Proparco (an affiliate of

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4092-444: Was formalized March 1912 when the Treaty of Fes established the French Protectorat . Under French imperial control, Casablanca became a port of colonial extraction. Right at the beginning of the twentieth century when Morocco was officially declared a French protectorate, the French decided to shift power to Morocco's coastal areas (i.e. Rabat and Casablanca) at the expense of its interior areas (i.e. Fez and Marrakech). Rabat

4158-410: Was formed to address the scarcity of banking services for local businesses and individuals, which was prevalent not only in Mali at that time, but across most of Francophone West Africa . This initial effort was without any external financial backing. The initial success of BOA led to the group gradual expansion and reorganization away from its Malian origins. In 1988, African Financial Holdings (AFH)

4224-437: Was made the administrative capital of the country and Casablanca its economic capital. General Hubert Lyautey assigned the planning of the new colonial port city to Henri Prost . As he did in other Moroccan cities, Prost designed a European ville nouvelle outside the walls of the medina . In Casablanca, he also designed a new " ville indigène " to house Moroccans arriving from other cities. Europeans formed almost half

4290-422: Was the first step in a decades-long process, known locally as marocanisation , of reduction of that colonial legacy. BMCE was established in 1959 as a government-owned commercial entity and in 1962 opened its capital to foreign strategic investors, the main one being Banca Commerciale Italiana (BCI) which had been present in Morocco since 1928 and brought BMCE its network of branches in the country. By late 1962,

4356-428: Was then a calque of the Portuguese name when the Spanish took over trade through the Iberian Union . During the French protectorate in Morocco , the name remained Casablanca ( pronounced [kazablɑ̃ka] ). Today, Moroccans still call the city Casablanca or Casa for short, or by its Arabic name, pronounced d-Dār l-Biḍā in Moroccan Arabic or ad-Dāru-l-Bayḍā' in Standard Arabic . The area that

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