Bank Al-Maghrib

The Bank Al-Maghrib 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. In addition to currency management, the Bank Al-Maghrib also supervises a number of private banks supplying commercial banking services. The bank has a branch in Casablanca, and agencies in 18 other cities in Morocco. The current governor is Abdellatif Jovahri.

The Bank’s object, operations as well as its administrative, management and control procedures have been adapted by virtue of Law No. 76-03, bearing Statutes of Bank Al-Maghrib, which entered into force on February 20, 2006, as well as by virtue of the texts for its implementation, as amended.