Within the framework of the development of the Caisse d'épargne savings bank group in the Mediterranean area, the Caisse d'épargne Provence-Alpes-Corse (Cepac) has signed a partnership convention with the Moroccan CIH (Crédit immobilier et hôtelier (hotel and home loan), of which the Caisse d'épargne group is a shareholder). French people or people living in France will be able to buy real assets in Morocco (in euros or dirhams) within the framework of a determined programme. They will also be able to transfer money from a Cepac account to a CIH account, free of charge until € 12 500. The Cepac is playing the role of a test area for this project that should then be extended to the whole French territory.

Source: Sud Infos 07/23/07