The shareholders of Banque Marocaine pour le Commerce et l'Industrie (CBSE:BCI) authorized a share repurchase program at its Ordinary General Meeting on May 7, 2012. Under the program, Banque Marocaine will repurchase up to 398,365 shares, representing 3% of its share capital. The shares will be repurchased at a range not less than MAD 690 per share and not greater than MAD 1,040 per share for a maximum amount of MAD 414.3 million. The program will continue for a period of 12 months starting from May 21, 2012.