RABAT, May 24 (Xinhua) -- The first Islamic bank has opened in Morocco after a long time of rejection by the country's authorities, according to a statement by its central bank on Wednesday.

The first Islamic bank has opened in Morocco after a long time of rejection by the country's authorities, according to a statement by its central bank on Wednesday.

The first Islamic bank has opened in Morocco after a long time of rejection by the country's authorities, according to a statement by its central bank on Wednesday.

Umnia Bank, a joint venture of Qatar International Islamic Bank and Moroccan lender Credit Immobilier et Hotelier S.A., opened three agencies in the country on Monday, with two in Casablanca and one in Rabat.

The opening of the bank came five months after the country's central bank approved requests to open Islamic financial institutions.

The central bank has also set up a central sharia board, a body of Islamic scholars, to oversee the sector.

Morocco has long rejected Islamic banking, but after the ruling Islamist Justice and Development Party came into power, the government started to push for the establishment of such financial institutions, which could attract more foreign investors to ease the worsening liquidity in the national financial markets.