Make Payments in MAD - Moroccan Dirham
Pay in Moroccan Dirhams (MAD)
Mondial Change allows you to make international payments in MAD (Moroccan Dirham) with ease. Manage your Moroccan Dirham beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not charge exchange commission on your MAD operations (a spread is applied to the exchange rate, which slightly degrades the interbank rate on the currency pair traded). Your client rate is always communicated transparently before the validation of each of your transactions.
Receive Payments in Moroccan Dirham (MAD)
It is currently not possible to receive payments in MAD.
Do you want to hedge your exchange risk on the Moroccan Dirham (MAD)? Check our dedicated page for MAD currency hedging.
Mondial Change Answers All Your Questions on Payments in Moroccan Dirhams (MAD)
What is the timeframe for a payment in MAD to be credited to the beneficiary's account?
It generally takes a minimum of 2 business days for a Moroccan Dirham transfer to be credited to the beneficiary's account. However, these timeframes are not contractual, and our partners responsible for executing and routing payments cannot be held liable if MAD payments are credited beyond 2 business days to the beneficiary's account. External events such as processing delays by intermediary banks, public holidays, execution time, or compliance checks can have a significant impact on payment receipt times.
What are the fees for a payment in Moroccan Dirham (MAD)?
The fees applied to Moroccan Dirham (MAD) transfers generally range from 0 to 10 euros, depending on the agreement with Mondial Change's trading room. The rate mainly depends on your annual MAD exchange volume and the number of Moroccan Dirham payments made during the year.
Are there minimum or maximum amounts for payments in Moroccan Dirham (MAD)?
Mondial Change and its partners verify that your Moroccan Dirham flows are consistent with the data declared during account opening and consistent with your activity volume to ensure compliance and security. If there are restrictions on transaction volumes, they will be communicated to you well in advance of the validation of your operations.
What are the specific rules for executing a payment in Moroccan Dirham (MAD)?
For payments in MAD via the SWIFT network, at least the following information must be provided:
• Full name of the beneficiary
• Full address of the beneficiary
• Local account number or RIB
• SWIFT code of the beneficiary's bank
• Reason for payment
Is it possible to modify a payment in Moroccan Dirham (MAD) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Moroccan Dirham (MAD) even after it has been sent in SWIFT. If you have, for example, made an error in the beneficiary's name or account number, the correction is made through a SWIFT amendment. If the payment has not been executed via the SWIFT network, then it is not possible to make such amendments, and you must wait for the payment to be returned if applicable.
What are the public holidays when payments in Moroccan Dirham (MAD) cannot be executed?
January 1: New Year's Day
January 11: Independence Manifesto
Variable date: Eid al-Fitr (end of Ramadan)
Variable date: Eid al-Adha (Feast of Sacrifice)
Variable date: Islamic New Year (1st Muharram)
Variable date: Ashura
Variable date: Mawlid (Birth of Prophet Mohammed)
May 1: Labor Day
July 30: Throne Day
August 14: Oued Ed-Dahab Day
August 20: Revolution Day of the King and the People
August 21: Youth Day
November 6: Green March
November 18: Independence Day
History of the Moroccan Dirham
The Moroccan Dirham (MAD) has been the official currency of the Kingdom of Morocco since 1960, when it replaced the Moroccan Franc. The term "dirham" originates from the ancient Greek currency "drachma," illustrating the long tradition of trade exchanges in the Mediterranean. The MAD is subdivided into 100 centimes and its code is used for domestic payments and certain regional transactions. The Dirham is issued by Bank Al-Maghrib, the central bank of Morocco, which oversees the entire national monetary system.
Monetary Policy of the Moroccan Dirham
Bank Al-Maghrib is the institution responsible for the monetary policy of the Kingdom of Morocco. Its main objective is to maintain price stability while supporting economic growth. The Dirham operates within a managed floating exchange regime, with a fluctuation band defined by the central bank. To achieve its objectives, Bank Al-Maghrib uses various instruments, such as the key interest rate, reserve requirements, and foreign exchange market interventions, to regulate the money supply and limit MAD volatility.
Characteristics of the Moroccan Dirham
The Moroccan Dirham (MAD) is not freely convertible on international markets, meaning its use is strictly regulated by local regulations. Foreign currency operations must be authorized by the Office des Changes. The MAD is widely used for domestic transactions, whether in cash or by bank card. The banknotes are equipped with advanced security features such as watermarks, optical inks, and holograms, ensuring confidence in the national currency and the stability of the Moroccan financial system.