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In a historic step that marks a major shift in the future of financial transactions, Bank Al-Maghrib (Morocco's central bank) has officially announced the launch of the Digital Dirham's first experimental phase. With this move, Morocco becomes one of the first Arab and African countries to approach the implementation of a Central Bank Digital Currency (CBDC).

This announcement was made in July 2025 by Abdellatif Jouahri, Governor of Bank Al-Maghrib, who revealed that the digital currency will be issued directly by the central bank—without intermediaries such as commercial banks. It will allow citizens to make payments using mobile phones, even without having a bank account.

💡 What Is the Digital Dirham?
The Digital Dirham is a digital version of the national currency. It holds all the characteristics of physical cash but offers several advantages, including:

Instant peer-to-peer transactions.Programmable features to control how and where it can be used.Reduced reliance on physical banknotes.Improved financial inclusion, especially in rural or underserved areas.

🌍 International Collaboration and Cross-Border Testing:

In a groundbreaking move, Bank Al-Maghrib partnered with the Central Bank of Egypt, with support from the World Bank, to test the use of the Digital Dirham for cross-border payments. This initiative could pave the way to bypass traditional systems like SWIFT and reduce reliance on the U.S. dollar in international transactions.

⚠️ Can the Digital Dirham Be Traded on Crypto Exchanges?:

No, the Digital Dirham is not available on any crypto trading platform (such as Binance or OKX).
Here’s why:

It is not a cryptocurrency like Bitcoin or Ethereum but a sovereign digital currency issued and controlled by Morocco’s central bank.It is intended for domestic use only, not for global investment or speculation.It is not subject to market supply and demand and cannot be traded freely.The project is still in a testing phase, and has not been released to the general public.Once officially launched, the Digital Dirham will be used via government-approved digital wallets and mobile apps within Morocco—not on open crypto markets.

🧩 Legal and Technical Framework:

Bank Al-Maghrib confirmed that the legal framework for the Digital Dirham has been finalized and submitted to the Ministry of Economy and Finance. The project now awaits formal approval and regulatory readiness before its official release, likely over the medium to long term.

🗣️ What Does This Mean for Moroccan Citizens?:
Citizens will be able to make everyday payments and transfers digitally—even without a bank account.Government aid and subsidies could be delivered directly, with better transparency and targeting.The economy will see reduced cash usage and improved tracking of financial flows.

🔮 Are We Headed for a Cashless Future?:

That reality may be closer than expected. Morocco is not just observing the global trend toward digital currencies—it is actively shaping its own path toward a more inclusive and technologically advanced monetary system.

🔚 As innovation accelerates, Morocco is not standing still—it’s moving steadily toward a Digital Dirham that could reshape the nation’s economic future.
Do you think such a system would be beneficial in your own country as well?

Sources:
Bank Al-Maghrib – SNRT News – Morocco World News – Hespress – Rue20 – Assahafa

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