BMCE Bank of Africa has launched operations in corporate banking and trade finance in China.

The Moroccan bank was granted a temporary license by the China Banking Regulatory Commission at the end of 2018. Officially commissioned in January 2019, the bank was given six months to get all operations up and running by the regulator.

This week, BMCE announced that it has implemented banking software from tech firm Temenos, enabling it to receive a permanent license for launching the branch on a scalable platform.

“Thanks to Temenos’ model bank approach, we obtained a new banking license, and have implemented a new core banking system that meets local regulations while supporting BMCE Bank of Africa’s ambitious growth strategy,” says Said Adren, general manager of BMCE Bank of Africa Shanghai.

The first Moroccan bank to open in China, BMCE says it wants to become a natural interlocutor for Chinese public and private economic operators wishing to invest in the African market. It will provide funding in both renminbi and foreign currencies.