Bank al-Maghrib
About Bank al-Maghrib
The central bank of Morocco, established in 1907 after the Algeciras Conference. Originally the State Bank of Morocco, it was controlled by an international consortium of European powers. Morocco gained full control after independence in 1959. The bank was renamed Bank al-Maghrib in 1987. The bank manages the Moroccan dirham, supervises banks, and manages monetary policy. Morocco has one of Africas most developed banking sectors. Moroccan banks operate across Francophone Africa. The bank has pursued gradual financial sector liberalization while maintaining stability.
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