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Bank Al-Maghrib |
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Bank Al-Maghrib
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The Bank Al-Maghrib
is the central bank of the Kingdom of Morocco. It was founded in 1959, and
is based in Rabat. It holds reserves of foreign currency of Morocco. In
addition to currency management, the Bank also supervises a number of
privatized banks supplying retail services. Bank Al-Maghrib has the full
mandate to conduct monetary policy whereas fiscal policy issues are the
mandate of the Ministry of Finance. |
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The Bank Al-Maghrib therefore has to ensure that fiscal
developments are consistent with monetary developments.
Mission of
the Bank Al-Maghrib is to achieve price and financial stability to
contribute towards national economic growth and development. The Bank shall
uphold core values that are an integral part of its vision, mission and
corporate culture.
In pursuit of this, the Bank
shall uphold the following core missions: |
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• to exercise the privilege of issuing banknotes and coins that are
legal tender in the Kingdom;
• to implement monetary policy instruments in order to ensure price
stability;
• to see to the stability of the currency and to its convertibility;
• to attend to the smooth running of the money market and to ensure its
control;
• to prepare and publish statistics on money and credit;
• to manage public exchange reserves;
• to monitor and ensure the security of payment systems and means as well
as the relevance of the norms applicable to them; and
• to see to the smooth running of the banking system and to the
enforcement of legislative and regulatory provisions relative to the
exercise and control of the activity of credit institutions and similar
bodies.
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Bank Al-Maghrib |
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HQ
Address: |
277, Avenue Mohammed V
Boîte postale 445
Rabat
Morocco |
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Tel: |
+212 05 3770 2626 |
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Fax: |
+212 05
3770 6667 |
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Website: |
www.bkam.ma |
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Email: |
webmaster@bkam.ma |
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Currency: |
Moroccan
dirham |
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Banking Hours: |
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Monday - Friday 08.30am -
04.00pm |
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