Rabat - British consulting firm Z/YEN has named Morocco's economic hub Casablanca as the world 44th most competitive global financial center.
Rabat – British consulting firm Z/YEN has named Morocco’s economic hub Casablanca as the world 44th most competitive global financial center.
According to the Global Financial Centers Index (GFCI), Casablanca scored 657 points, ranking 44th among 84 international financial centers compiled by the consulting firm.
Casablanca has moved up by twelve points on this year’s list, which was published on Wednesday, up from 62 on the 2014 edition.
Morocco’s largest and most populous city is the second most competitive financial center in Africa behind South Africa’s Johannesburg.
London topped the list with 796 points, surpassing New York, which was number one last year. Hong King, Singapore, Tokyo and Seoul were ranked third, fourth, fifth and sixth, respectively.
The consulting group publishes the Global Financial Centers Index in March and September every year.
The GFCI is a ranking of competitiveness based on 29,000 assessments of financial centers around the world.
It uses detailed methodology and on-line questionnaire and more than 100 indices from various organizations, including the United Nations, the Organization for Economic Co-operation and Development, the World Bank, and the Economist Intelligence Unit.
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