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Moroccan dirham. The Moroccan dirham (Arabic: درهم, romanized: dirham, Moroccan Arabic: درهم, romanized: derhem; sign: DH; code: MAD) is the official monetary currency of Morocco. It is issued by the Bank Al-Maghrib, the central bank of Morocco. One Moroccan dirham is subdivided into 100 santimat (singular: santim; Arabic: سنتيم).
Macro-economic trend. [] Morocco is a fairly stable economy with continuous growth over the past half-century. Current GDP per capita grew 47% in the 1960s, reaching a peak growth of 274% in the 1970s. However, this proved unsustainable and growth scaled back sharply to just 8.2% in the 1980s and 8.9% in the 1990s.
By mid-century, Morocco was in a monetary crisis caused by the decline in value of its currency. [2]: 32 Traditionally, the monetary system in Morocco consisted of a golden mithqal (مثقال), divided into ten uqiyyahs (أوقية), each of which was divided into four muzunas (موزونة), each of which was divided into 48 copper or bronze fils (فِلس).
Silver dirham issued in 1002 by Hisham II, Caliph of Córdoba. The dirham, dirhem or drahm (Arabic: درهم) is a unit of currency and of mass. It is the name of the currencies of Morocco, the United Arab Emirates and Armenia, and is the name of a currency subdivision in Jordan, Qatar and Tajikistan. It was historically a silver coin.
Finance in Morocco. In 2007, the financial sector of Morocco maintained an economic environment conducive to further growth of banking activity following a very good year for the sector in 2006. Morocco's banks have been largely unaffected by the credit crisis due to their limited connection to global financial markets.
Mohammed VI (Arabic: محمد السادس, romanized:Muḥammad as-sādis; born 21 August 1963) [ 1 ] is King of Morocco. A member of the 'Alawi dynasty, he acceded to the throne on 23 July 1999, upon the death of his father, King Hassan II. [ 2 ] Mohammed has vast business holdings across several economic sectors in Morocco.
Morocco, [ d ] officially the Kingdom of Morocco, [ e ] is a country in the Maghreb region of North Africa. It overlooks the Mediterranean Sea to the north and the Atlantic Ocean to the west, and has land borders with Algeria to the east, and the disputed territory of Western Sahara to the south.
The rial was introduced when Morocco adopted a modern style coinage in 1882. It replaced a system consisting of copper falus, silver dirham and gold benduqi . In Spanish Morocco, the rial was replaced by the Spanish peseta in 1912 at a rate of 1 rial = 5 pesetas. In French Morocco, the rial was replaced in 1921 by the franc at a rate of 1 rial ...