Morocco Real Estate Credit for MREs: Finance 80% With Dirhams

Authorized intermediary banks are empowered to grant Moroccans residing abroad credit in dirhams to finance the acquisition or construction of residences in Morocco. According to the Office of Exchange, such credits can be granted up to 80% of the price of the real estate property to be acquired or constructed.

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The remaining amount must be covered by a currency contribution from the beneficiary. In other words, an MRE cannot finance their entire acquisition through dirham credit in Morocco: part of the price must be covered by foreign currency.

The Office of Exchange also specifies that banks must require, before granting this type of credit to non-resident individuals, a sworn statement indicating that the loan beneficiary does not own any residence in Morocco. However, this statement is not required for Moroccans residing abroad.

A Relaxation Provided for by Instruction 2026

In a press release dedicated to the General Instruction for Foreign Exchange Operations 2026, the Office of Exchange presents this measure as a relaxation in favor of MREs regarding dirham real estate credits. These credits now cover any real estate acquisition operation in Morocco, without limitation on the number of properties.

The Office specifies that these bank credits can cover up to 80% of the property value to be acquired, compared to 70% previously. This change therefore expands the financing capacity of MREs wishing to invest in real estate in Morocco.

The regulations also provide guarantees for banks. The institution granting the credit must require, for the amount granted, either a first-rank mortgage on the real estate property or a guarantee from a foreign bank.

Credit repayment — principal, interest and bank commissions — must be made by currency transfer or by debit from a convertible dirham account opened in the name of the interested party. Costs related to acquisition or construction, such as notary fees, registration rights or land registry inscription rights, must also be covered by currency transfer or by debit from a convertible dirham account.

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For MREs, the benefit of this system is therefore clear: they can access bank credit in dirhams in Morocco to finance a large part of a real estate project. However, the operation remains governed by exchange regulations, with one central requirement: maintaining traceability of currency contributions and repayments made.