Exchange operations are governed by the provisions of the exchange regulations which set the terms and conditions for carrying out these operations by residents and non-residents.
Foreign exchange regulation is dynamic and evolving and has not ceased, over the years, to adapt to the economic realities of the country, to support the level of openness of the Moroccan economy and to consolidate the process of liberalization: a thoughtful, careful, progressive and irreversible process.
The degree of convertibility reached by Morocco at the present time far exceeds the requirements of the IMF in this area. Currently, the majority of exchange operations can be carried out by economic operators directly to authorized intermediaries. The number of operations still subject to the prior authorization of the "Office des Changes" is increasingly reduced.
For an overview of the legislative and regulatory framework of the "Office des Changes", kindly refer to the French version of the portal, Regulation section, where you can view and download:
- Laws and Royal Decrees (Dahirs);
- Decrees, orders and decisions;
- Instructions and circulars.