Bank Al-Maghrib

David Kipre

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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.

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