The "Office des Changes" is a public institution of an administrative nature. It is under the supervision of the Ministry of Finance, which determines the general terms of its management, control and determines its annual budget.
The missions of the "Office des Changes" consist of the regulation and control of foreign exchange transactions and the publication of foreign trade statistics. It is thus responsible for:
Drawing up the exchange regulations :
The "Office des Changes" contributes, under the auspices of the Ministry of Economy and Finance, to the implementation of the Government’s foreign exchange guidelines through the development and implementation of measures relating to foreign exchange regulations, by setting the terms and conditions of realization of foreign exchange transactions that may be freely performed by residents and non-residents.
Ensuring compliance with the applicable exchange regulations :
The control exercised by the "Office des Changes" on foreign exchange transactions in accordance with the applicable regulations, may be carried out either on documents, by exploiting the reports transmitted by the operators and the banks, or on the spot, entrusting the mission to its inspection body.
The "Office des Changes" has the power to grant exemptions for transactions that are not provided for by the applicable regulations.
Granting manual exchange approvals :
The "Office des Changes" is responsible for granting manual exchange approvals after completion of all the formalities required by the applicable regulations.
It also retains the right to control the operations carried out by manual currency exchange operators, who are required to make available to the supervisory services of the "Office des Changes" the necessary documents and information regarding the foreign exchange transactions carried out by them.
Establishing foreign exchange statistics :
The "Office des Changes" is the producer of foreign trade statistics. It draws up and publishes the balance of payments, the balance of trade and the overall external financial position in accordance with relevant international standards.
In addition, it publishes monthly indicators of foreign exchange that allow political and economic decision-makers to have an effective tool to help the decision-making process.
The Statistical Mission of the "Office des Changes" is governed by two main reference frameworks: a legal framework, in this case the Statistical Declarations Act No. 19-06, which gives the "Office des Changes" a legal base allowing it to exercise this mission and a methodological reference system focusing on international standards set out by the IMF and the United Nations.
The process of compiling statistics respects the timeliness with which statistics are released and ensures high reliability of its indicators that meet international standards.
Other missions :
In addition to its main responsibilities, as detailed previously, the "Office des Changes" is invested in other missions, namely:
- Fully assume its role of public service, facilitator and guide of its users by conducting a quality approach based on the quality of reception and care, the respect of the deadlines, the equity of treatment and the involvement of all the members of the staff ;
- Ensure compliance with the provisions of Law no. 43-05 relating to the fight against money laundering by the entities subject to its control and subject to these provisions;
- Provide training in exchange regulations for authorized intermediaries, professional associations, etc.
- Produce and publish studies using statistical data of foreign trade;
- Exchange data with other administrations to share information and knowledge and ensure consistent treatment of common issues and files.