Morocco Reports Sharp Decline in Counterfeit Currency, Central Bank Says

The counterfeits particularly targeted the 200 dirham banknote, accounting for a 69% share, and by issue series, BAM specifies in its annual report on the economic, monetary and financial situation for the past year.

As for the counterfeiting ratio, only 2.9 banknotes out of a million in circulation are counterfeit, compared to 5.2 in 2019, a low level compared to other countries.

Furthermore, this report points out that the bank has fulfilled its commitments to its partners by delivering more than one million biometric passports, 1.2 million personalized secure identity cards, and nearly 41 million various types of secure documents.

Regarding the required quality, the maintenance involved a volume of 3.1 billion banknotes, 85% of which were carried out by private sorting centers (CPT) and the rest by Bank Al-Maghrib, the report states, adding that to ensure the required standard, the Bank has maintained permanent control of the CPTs, despite the restrictive measures related to Covid-19.

In addition, 15 specific missions were carried out to ensure compliance with the health measures issued by the authorities.