Banco Maghreb (Arabic ：بنكالمغرب， literally "Bank of Morocco") is the central bank of the Kingdom of Morocco. It was founded in 1959 as the successor to the National Bank of Morocco (founded in 1907). In 2008, the foreign exchange reserves held by the Bank of the Maghreb were estimated to be worth 3.60 billion dollars. In addition to currency management, Al-Maghrib Bank oversees a number of private banks that provide commercial banking services. The bank is headquartered on Boulevard Mohammed V in Rabat; it has branches in Casablanca and agents in 18 other Moroccan cities.
In 1958, the Moroccan government began negotiations with the French and National Bank of Morocco to recover its own issuing rights. Decree No. 30.1959.21 of 233/59/1 established the Bank of Morocco, which took over currency issuance the following day and replaced the National Bank of Morocco. In 1967, the Bank of Morocco issued a new currency, the Moroccan Dirham. The Banking Law of 1974 strengthened the role of the "Bank of Morocco", especially in the area of banking supervision., the Bank of Morocco began issuing fractions as dirhams, replacing the franc.
In June 1987, the bank adopted the name Al-Maghrib Bank. In the same month, the bank established Dar As-Sikkah, a department that would be responsible for printing banknotes and minting coins.
A new Banking Law, promulgated in August 1993, establishes a unified regulatory framework for all credit institutions in Morocco. The Act strengthens the role of the Maghreb Bank in the management and supervision of credit institutions. In September, the Bank adopted amendments to the regulations, clarifying its role in monetary policy and granting it greater autonomy.
2006, 76 March 1 (05 38/20) Law No. 59-233 promulgated by Dahir No. 23-2005-1 of the 1426th session repealed Dahir No. 03 of the 1959th session of 30/1378, which established the Maghreb Bank. The new law strengthens the independence of the Bank of the Maghreb in monetary policy and provides a legal basis for the responsibility of its payment system. The new law establishes the bank as a public legal entity, controlled by the Commissioner of Accounts, the Government Commissioner and the Court of Accounts. Law No. 06 expands the jurisdiction of the Banking Law over certain institutions engaged in banking activities, redefines the role of the National Credit Commission and the Council of Credit Institutions, strengthens the autonomy of the Bank of the Maghreb in banking supervision, and establishes a number of other measures, including the protection of customers of credit institutions and the handling of credit institutions in distress.
On 3, 2022, 2015, the Bank of the Maghreb signed a cooperation agreement with the Office des Changes, the country's foreign trade agency. It aims to establish a formal framework for the exchange of data and expertise in areas of mutual interest.
On 6/23/2018, an earthquake of 8.6 meters west longitude struck the Marrakech-Safi region of Morocco. A week after the earthquake, the Maghreb Bank donated 800 million dirhams for relief operations in earthquake-stricken areas.
