Types of entities authorized to deal in money-changing
Money-changing is the instant act of exchanging dirhams for foreign banknotes and traveller’s cheques made out in foreign currencies, and vice versa.
Private individuals wishing to make money-changing transactions should turn to authorized entities :
Authorized intermediaries
Authorized intermediaries include banks, the General Treasury of the Kingdom, and Post Office Morocco. They may :
Buy foreign banknotes, traveller’s cheques, letters of credit, bank cheques and money orders, for dirhams.
Sell foreign banknotes, traveller’s cheques, letters of credit, bank cheques and money orders, for dirhams.
make foreign Currencies for foreign currencies trade-off on behalf of foreigners, as well as for Moroccans residing in Morocco or abroad holding foreign currency accounts,
Exchange bureaus and money transfer companies They may:
Buy foreign banknotes and/ or traveller’s cheques, made out in foreign currency, for dirhams.
Sell foreign banknotes and/ or traveller’s cheques for the tourist allowance, and the allowance for professional trips and trainings abroad granted to public sector staff.
take back from non-resident private individuals the remained amount of dirhams stemming from foreign currencies previously sold on the exchange market.,.
Sub-assignees Entities eligible to the status of sub-assignee to an authorized intermediary are: star-rated hotels, guesthouses, holiday residences, youth hostels, international passenger transport companies , and travel and car rental agencies with premises inside ports and airports. They may :
Buy foreign banknotes and/ or traveller’s cheques made out in foreign currency.
take back from non-resident private individuals the remaining amount of dirhams stemming from foreign currencies previously sold on the exchange market.,.
