Category: Banks. Country: Morocco.
The central bank of the Kingdom of Morocco, named "Bank Al-Maghrib", is a public legal entity endowed with financial autonomy. It was created in 1959 in substitution for the former "Banque d'Etat du Maroc". 1967 Promulgation of the banking Act of April 21, 1967. This law strengthened the role allotted to "Banque du Maroc" by its statutes particularly in the field of banking supervision. 1974 Issue of the centime, as a fraction of the dirham, in substitution for the franc. 1987 In March 1987, Bank Al-Maghrib became a common denomination in all languages. Creation in March 1987 of "Dar As-Sikkah", an industrial unit responsible for Banknotes'fabrication and coin's minting. 1993 Adoption in July 1993 of a new banking act establishing a unified ulatory framework for all credit institutions. This act has extended the sphere of consultation between monetary authorities and credit institutions, set out measures for a further protection of customers' interests and reinforced the power of the central bank in regulating and supervising the activities of credit institutions. Amendments were brought to the Bank's statutes in October 1993, aiming at specifying more accurately its attributions, in particular, those related to monetary policy, and granting more autonomy to its administration and management bodies.
Address: 277, Avenue Mohammed V Boite postale 445 - Rabat ,Phone: 212 0 37 70 26 26 Phone: 212 0 37 70 66 67
