Abstract
This study analyzes the organization and powers of the monetary authority in Morocco. While the public-service mission of monetisation is shared among numerous institutions — the Ministry of Finance, Bank Al Maghrib (the central bank), the Credit and Financial Market Committee (CCMF), the Professional Grouping of Banks and specialized financial bodies — the author argues that monetary authority proper belongs essentially to the Ministry of Finance and the central bank, and only accessorily to the CCMF. Based on the 1959 statutes of Bank Al Maghrib and the 1967 royal decree on the banking profession, the analysis shows that the Minister of Finance holds general competence over monetary and financial policy, whereas Bank Al Maghrib possesses only an attributed competence exercised under ministerial supervision. The article details each body's responsibilities regarding money issuance, credit control, banking authorizations and sanctions, and concludes that, in practice, the central bank often exceeds its formal remit, treating monetary policy as a reserved domain.
Recommended Citation
Benothmane, Larbi
(1990)
"Monetary Authority in Morocco: Organization and Powers,"
Revue Marocaine de Droit, d'Economie et de Gestion (Moroccan Journal of Law, Economics and Management): Vol. 9:
Iss.
2, Article 8.
https://doi.org/10.66499/2665-7112.1636
Available at:
https://scholarhub.univh2c.ma/remadeg/vol9/iss2/8
DOI
10.66499/2665-7112.1636