The Bank Al-Maghrib (, lit. 'Bank of Morocco') is the central bank of the Kingdom of Morocco. It was founded in 1959 as the successor to the State Bank of Morocco (est. 1907). In 2025, the bank held foreign currency reserves estimated at US$46.6 billion.
In addition to issuing currency, notably through Dar As-Sikah, Bank Al-Maghrib is responsible for supervising the country’s banking system, including private commercial banks. The bank is headquartered on Avenue Mohammed V in Rabat, with a branch in Casablanca and agencies in 18 other cities across Morocco.
History
In 1958, the Moroccan government commenced negotiations with France and the State Bank of Morocco to reclaim for itself the right to issue money. Decree n° 1.59.233 of 30 June 1959 created the Banque du Maroc, which took over the issuance of money the next day, and replaced the State Bank of Morocco. In October, the Banque du Maroc issued a new currency, the Moroccan dirham. The Banking Act of 21 April 1967 enhanced the role of "Banque du Maroc", particularly in the field of banking supervision. In 1974, the Banque du Maroc commenced issuing the centime as a fraction of the dirham, replacing the franc.[4]
In March 1987, the bank adopted the name Bank Al-Maghrib. That same month, the bank established Dar As-Sikkah, the unit that would be responsible for printing bank notes and minting coins.