Bank Al-Maghrib has announced a decisive decision to permanently withdraw several denominations of old banknotes from circulation, starting in January 2026. This strategic step comes within the framework of the Kingdom's efforts to modernize the national currency and modernize the means of payment in circulation.
Details of the decision and target groups
This measure is based on the decree issued on December 23, 2025, which established the regulatory and legal framework for this process. The decision primarily aims to replace banknotes that no longer meet modern, internationally recognized security and quality standards. Under this decision, the banknotes in question will lose their legal tender status and purchasing power, meaning they cannot be used in everyday commercial transactions such as buying, selling, or settling debts after the specified date.
The withdrawal process includes a series of issues that have marked the history of Moroccan currency for decades, namely:
- 1987 issues: These include all denominations (10 dirham, 50 dirham, 100 dirham, and 200 dirham notes).
- 1990 issues: Specifically the 10 dirham note.
- Issues of 1996: These pertain to the 20 dirham note.
General context and importance of currency modernization
The process of renewing banknotes and withdrawing older issues is a routine practice undertaken by central banks worldwide to ensure the stability of the financial system. This step is particularly important in Morocco, where some of these banknotes date back to the 1980s and 1990s. Rapid technological advancements in secure printing have made it necessary to replace these denominations with new ones containing sophisticated security features that are difficult to counterfeit, such as color-changing inks, 3D watermarks, and embedded security threads—features lacking in the older, withdrawn issues.
Transitional period to guarantee citizens' rights
In its commitment to protecting savings and ensuring that citizens are not negatively impacted, Bank Al-Maghrib has established a long-term transition period of five years. Holders of these banknotes can exchange them at Bank Al-Maghrib branches and commercial bank agencies from January 2026 until the end of December 2030. This flexible timeframe reflects the financial institution's commitment to a smooth transition to the new currency without causing market disruption.
Economic and operational impact
From an economic and operational standpoint, withdrawing these worn-out banknotes will contribute to standardizing cash transactions and focusing them on modern series. This will facilitate automated cash processing within financial institutions, as modern counting and sorting machines and ATMs rely on precise sensor technologies that operate more efficiently with the new banknotes, which have higher physical quality. Furthermore, withdrawing the worn-out notes enhances the image of the national currency and reflects the strength of the Kingdom's monetary structure.
