Bank Al-Maghrub (BAM)

The BAM manages monetary policy.

The national currency is the Dirham. This is pegged to a basket of currencies weighted by the USD and the Euro.

The BAM supervises the gross settlement system (SRBM).

There are press reports that the BAM is considering CBDCs.

The Morocco News Agency reports – 

“It is clear that out of the 170 Fintechs identified in Africa, around 15%, that is to say 25 companies, are located in Morocco and Tunisia, according to the latest report on financial stability from Bank Al-Maghrib.”

 

 

Bank Al-Maghrib announced the creation of an institutional committee dedicated to the CBDC theme. What are, in your opinion, the motivations that could justify the establishment of a state e-currency?

By setting up a commission to reflect on the central bank digital currency (MNBC), it is very likely that Bank Al-Maghrib (BAM) is not seeking to reinvent in the short term nor its monetary policy, which would consist in particular of having a report different with the banking sector by stimulating competition within this sector, nor economic policy in general.” MAP

 

By cryptorocks_editor

Editor.