Hommam Al Nassim 
The Governor of the Central Bank of Morocco, Abdellatif Jouahri, announced that his country is discussing with the bank and the International Monetary Fund the adoption of the “electronic dirham” in financial transactions.
The growth of “electronic currencies” internationally prompted the Moroccan Bank to try to explore electronic currency and approve the electronic dirham, with the aim of accelerating financial transactions and reducing their cost compared to paper currencies.
Al-Jawahiri confirmed, during a press conference in Rabat, that Morocco is cooperating with the International Fund and the World Bank to study ways to approve the e-Dirham project, as a special committee has been formed that has been working on this project for more than a year.
Al-Jawahiri explained that the bank first studied the goal of adopting the electronic currency, recalling international experiences, as the Moroccan bank conducted an internal experiment to use the electronic dirham on the World Bank platform in Washington.
The bank tested the electronic currency payment method in installments, in addition to evaluating the operational path of its trading system.
Al-Jawahiri stressed that the most difficult challenges are still to come, pointing to the legal and regulatory problems that must be solved, and the impact of this project on the basic tasks of the Central Bank and on monetary policy.
Al-Jawahiri concluded that the project cannot be implemented immediately, but rather in the medium or long term, stressing the need for good preparation for Morocco to be ready for its implementation.
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