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Bank Al-Maghrib completes technical tests for digital dirham
Bank Al-Maghrib researchers have completed initial technical tests for a potential digital dirham, a central bank digital currency (CBDC) designed to complement Morocco's existing monetary system. Conducted in collaboration with the International Monetary Fund and the World Bank, the experiments successfully demonstrated the technical feasibility of issuing, distributing, and using digital currency via electronic wallets using both centralized and distributed ledger architectures.
The study suggests that a digital dirham could enhance financial inclusion, particularly for the significant portion of the population currently without bank accounts, and could streamline international transfers for Moroccans living abroad. However, researchers emphasize that technical success does not imply immediate implementation.
Key challenges identified include managing cybersecurity risks, ensuring data privacy, and maintaining financial stability. Specifically, the central bank warned of the potential risk of bank deposits migrating from commercial institutions to the new digital currency. The project remains a long-term consideration that requires further legal, regulatory, and infrastructural development to ensure user trust and systemic stability.
Entities
Bank Al-Maghrib · Chaymae Chaoui · International Monetary Fund · Morocco · World Bank
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Technical tests have confirmed that issuing a digital dirham is feasible from a technical standpoint. alyaoum24.com
- [○ 1 SOURCE] The bank account ownership rate among individuals in Morocco was 62 percent in 2025. alyaoum24.com
- [○ 1 SOURCE] The findings in the study regarding the digital dirham do not necessarily represent the official position of Bank Al-Maghrib. www.lebrief.ma
- [● 2 SOURCES] Bank Al-Maghrib has conducted technical trials and feasibility studies for a digital dirham prototype. alyaoum24.com
- [○ 1 SOURCE] The digital dirham project poses risks to financial stability, including the potential migration of bank deposits to the new digital currency. alyaoum24.com
- [● 2 SOURCES] A digital dirham could improve financial inclusion for unbanked populations and residents in rural areas. www.lebrief.ma · alyaoum24.com
- [○ 1 SOURCE] Remittances from Moroccans living abroad account for approximately 8 percent of the national GDP. alyaoum24.com
- [○ 1 SOURCE] Technical trials for the digital currency prototype were conducted in collaboration with the IMF and the World Bank. alyaoum24.com