GlossaryBanking
Bank Al-Maghrib (BAM)
Short definition
Central Bank of Morocco, responsible for monetary policy, financial stability, and banking supervision.
Detailed definition
Bank Al-Maghrib (BAM) is Central Bank of Kingdom of Morocco, created in 1959. Missions: issue currency (MAD), conduct monetary policy (key rate), supervise banks and financial bodies, manage foreign exchange reserves, ensure financial stability. Headquarters in Rabat. Governor: Abdellatif Jouahri (since 2003). Publishes usury rates quarterly.
Concrete example
BAM key rate in 2026: 2.50%. This rate directly influences commercial bank interest rates (mortgages ≈ 4%, i.e. key rate + 1.5 pt).
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