The Office des Changes authorizes new digital payment solutions to modernize and secure foreign currency transactions.
The Office des Changes has announced a major update to Morocco’s foreign exchange procedures, authorizing licensed currency exchange operators to use Electronic Payment Terminals (EPT/POS devices) to process foreign currency purchases made with international bank cards in exchange for dirhams.
Under this new regulatory circular, operators may also issue dirham-loaded payment cards to customers as part of the currency exchange process, marking an important step toward modernizing Morocco’s payment ecosystem.
A significant step toward modern, secure payment infrastructure
According to the Office des Changes, this circular represents a key milestone in strengthening operational mechanisms for foreign exchange services while supporting the nationwide transition toward digital, secure and globally aligned payment solutions.
The new framework enables licensed exchange bureaus to:
- Use Electronic Payment Terminals (EPT) to process currency purchases via international bank cards.
- Provide customers with payment cards preloaded in dirhams during foreign exchange transactions.
These measures reflect the institution’s commitment to supporting innovation within the national financial ecosystem and improving the customer experience.
Strengthening compliance and anti-money laundering safeguards
The Office des Changes emphasized that this evolution is aligned with international compliance standards, particularly regarding Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT), in accordance with FATF Recommendation 17.
The circular stresses the importance of:
- Ensuring third-party partners apply the same due diligence and compliance requirements.
- Guaranteeing the traceability of all operations conducted on behalf of clients.
By enhancing monitoring and accountability, the measure strengthens the national financial framework while maintaining robust safeguards against illicit financial activity.
Toward a more integrated and transparent payment environment
The Office des Changes states that implementing these new flexibilities will contribute to the development of a more integrated, transparent and modern payment ecosystem in Morocco.
The upgrade is expected to support the country’s broader financial digitalization efforts and improve convenience for residents, expatriates and international visitors conducting currency operations.
Source: MAP
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