With the exception of authorized intermediaries, exchange bureaus, and money transfer companies authorized to deal in money-changing, no other person or entity is entitled to exchange dirhams for foreign currency, without the prior authorization of the Exchange Office.
Some entities, other than authorized intermediaries, exchange bureaus, and money transfer companies authorized to deal in money-changing, which may, in view of their business activity, receive foreign banknotes or traveller’s cheques from Moroccan or foreign travellers, may be authorized by the Exchange Office to buy foreign banknotes and/ or traveller’s cheques for dirhams.
These entities are authorized to buy foreign banknotes and/ or traveller’s cheques on behalf of an authorized intermediary of their own choosing. Authorizations granted to them in this regard by the Exchange Office are called sub-assignments, and the beneficiaries sub-assignees.
Sub-assignments authorize and facilitate the activities of persons and entities operating in the sectors linked to tourism.
The following entities can be granted sub-assignee status:
star-rated hotels;
guesthouses;
holiday residences;
youth hostels;
international passenger transport companies;
travel and car rental agencies with premises inside ports and airports
Entities wishing to apply for a money-changing sub-assignment, must submit their application through the authorized intermediary on behalf of whom they will operate.
Entities with subsidiaries and branches must submit a separate application for each subsidiary or branch.
Applications for sub-assignment must be submitted in six copies on the application form for sub-assignment for money-changing.
Applications for sub-assignment must include the following documents:
a copy of registration on the Company Register
a certified copy of the certificate of Business Tax registration, or any document certifying the payment of the tax
a certified copy of the company’s articles of association, a certified copy of the document appointing the person to administer and manage the entity, and a certified copy of the appointee’s identity card or foreign resident card number not more than 3 months old
a signed and certified form providing information on the applicant (star-rating, bed capacity, amenities, indicators of business activity…)
an anthropometric file for the person appointed to manage and administer the entity
Authorized dealers must only submit to the Exchange Office applications complying with the above-conditions, duly signed, stamped and endorsed.
The Office of Exchange will notify the applicant of its decision via the authorized intermediary in question.
