The Foreign Exchange Office
Created by the Dahir of 22 January 1958, the Exchange Office is a public institution with legal personality and financial autonomy. It is placed under the supervision of the Ministry of Finance, which determines the general arrangements for its management, its monitoring and adopts its annual budget
The Exchange Office is responsible for two main tasks:
- Enacting measures relating to exchange regulations. In the context of the financial liberalization measures taken by Morocco and following the accession in 1993 to the provisions of Article VIII of the statute of the International Monetary Fund relating to the convertibility of current accounts, the Exchange Office has delegated to banks the power to freely make almost all financial payments outside Morocco in relation with export and import operations, international transport, insurance and reinsurance, technical assistance, travel, tuition ... By virtue of this liberalization process, the Exchange Office strives to ensure the verification of the operations delegated to banks in order to detect and punish any illegal transfer of funds abroad and preserve, accordingly, the external balances of the Moroccan economy. The Exchange Office also monitors the repatriation of the revenues of exported goods and services, with the aim of ensuring the recovery of monetary reserves.
- Establishing the statistics of foreign trade and balance of payments. Several statistical publications are published in this regard, among which the monthly indicators of foreign trade, the balance of quarterly and annual payments, the directory of foreign trade, the balance of payments, the Morocco's Global External Financial Position. These statistics which are of a capital nature enable national monetary and economic authorities with the information necessary to control the conduct of economic policy. The Exchange Office ensures in this regard compliance with international standards for the production and dissemination of statistics on foreign trade such as the United Nations and the International Monetary Fund standards.
Along with its activities that include the regulation of exchange and the publication of statistics on foreign trade, the Exchange Office actively participates in all actions to promote exports and develop the national economy.
Thus, after consultation with the concerned departments, namely the Ministry of Finance, the Exchange Office has built an International Conference and Exhibition Centre in Casablanca
Through this internationally significant project, the Exchange Office sought, using its own cash surpluses to provide the Greater Casablanca with a structure in harmony with the prestige of this city, propelling it to the ranks of international cities that can accommodate and successfully organize international economic, commercial and cultural events.
