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The Moroccan dirham (Arabic: درهم, romanized: dirham, Moroccan Arabic: درهم, romanized: derhem; sign: DH; code: MAD) is the official monetary currency of Morocco. It is issued by the Bank Al-Maghrib, the central bank of Morocco. One Moroccan dirham is subdivided into 100 santimat (singular: santim; Arabic: سنتيم).
The Bank Al-Maghrib (Arabic: بنك المغرب, 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 2008 Bank Al-Maghrib held reserves of foreign currency with an estimated worth of US$36 billion.
This is a list of commercial banks in Morocco, as published by the Bank Al-Maghrib in July 2021. [1] List of commercial banks. Al Barid Bank, state-owned;
Attijariwafa Bank: Financials Banks Casablanca: 1904 Bank P A Banque Commerciale du Maroc: Financials Banks Casablanca: 1911 Bank, defunct 2004 P D Banque Populaire du Maroc (BCP) Financials Banks Casablanca: 1961 Bank P A Bank of Africa: Financials Banks Casablanca: 1959 Bank P A BMCI: Financials Banks Casablanca: 1943 Bank P A Casa Air ...
The following is a list of banks in the Arab World.The modern system of Arab banks was created in Egypt in the late 19th century, with the campaign of modernizing the country.
The central bank of Morocco (Bank Al Maghrib) In 2007, the financial sector of Morocco maintained an economic environment conducive to further growth of banking activity following a very good year for the sector in 2006. Morocco's banks have been largely unaffected by the credit crisis due to their limited connection to global financial markets.
Palais Zahia building in the medina of Tangier, the State Bank of Morocco's head office from 1907 to 1952 The State Bank's building in Rabat, inaugurated 1925 and the seat of its executive management until succession by Bank Al-Maghrib in 1959 Building at 3, rue Volney in Paris, the State Bank of Morocco's "seat of administration" where board meetings were held from 1907 to 1922
The global financial crisis affected the Moroccan economy in only a limited way. Morocco may be affected, by the slowdown of international economy, stirred by the global financial crisis, and whose maximum impact on national economy could decrease the GDP growth rate by at least one point in 2009, according to the Bank Al-Maghrib. [37]