Bank al-Maghrib

Portal of the main building of the Al-Maghrib Bank

The bank al-Maghrib ( Arabic بنك المغرب, DMG Bank al-Maġrib ) is the central bank of Morocco . It was founded in 1959 and is based in Rabat . It succeeded the Banque d'Etat du Maroc Institute, which was founded in February 1907 as a public limited company. The prerequisite for this was the international conference in Algeciras on April 7, 1906, in which twelve European states and the United States of America had decided on the independence of Morocco and independence in business and trade.

The bank currently has foreign currency reserves valued at an estimated $ 36 million (2008 values). In addition to managing the currency, Bank al-Maghrib oversees a number of private banks that offer customer services.

Several affiliated specialized subsidiaries also belong to the bank. The Caisse des Hypothek was set up as early as 1919; it was followed by Agricultural Credit Banks (1926), Casablanca Securities Trading (1929), which is now the securities settlement office, and the Central Guarantee Fund (1949).

See also

• List of central banks and currencies of Africa

Web links

• Bank al-Maghrib (English, French, Arabic)

Coordinates: 34 ° 1 '10.2 "  N , 6 ° 50' 8.9"  W.