The MRE is authorised to open an account in foreign currency and/or convertible dirhams in their own name. It is important to note that this account cannot be in debit.

Transactions permitted on credit

They relate to:

• • • Bank transfers from abroad;
    • Transfers from accounts held in foreign currencies or convertible dirhams;
    • Receipts of any form of payment denominated in foreign currencies or convertible dirhams, on the understanding that payments in foreign banknotes must be made upon presentation to the bank:
      • the original copy of the foreign currency import declaration submitted to the border customs authorities, dated no more than six months ago;
      • or the exchange slip or any other document, dated no more than one month ago, proving that the banknotes in question were previously withdrawn from the same account.
    • The amount of foreign currency purchases made in accordance with the provisions in force or under a specific authorisation from the Foreign Exchange Office;
    • Income and refunds arising from capital transactions carried out by the holders of those accounts;
    • Interest rates on demand and fixed-term deposits.

Authorised debit transactions

They relate to:

• • • Any payment made in Morocco or to an overseas destination, including cash withdrawals;
    • Setting up fixed-term deposits.