Islamic finance has grown considerably over the past three decades. If Muslim countries formed the starting point, the rest of the world, especially Western countries, do not stay away from the development of Islamic finance. Many western countries have modified their national legislation in order to benefit from the strong growth of this segment of finance.
Islamic finance has always shown huge interest for Morocco. Since the early 1980s, several Islamic financial institutions have always been approaching the Moroccan monetary authorities in the perspective of implantation in the Kingdom. A study in 2012 by the IFAAS, 94% of Moroccans interviewed showed interest for financial products that comply with Sharia. Finally, the 103-12 law on credit institutions and similar organizations, which has just been published in the Official Journal in 2015 to be enforced, opens the floodgates of Islamic finance on Moroccan banks.
Starting with simple financing modes, the interest of this paper is to make a comparison between the cost of Islamic finance and conventional finance in the case of mortgage credit (Moroccan context) given that volume of Islamic finance business remains moderate so far, despite a sluggish start in 2007 with the launch of three Islamic products (Musharaka, Ijara and Murabaha) under the patronage of alternative products.