Morocco is a North African country that has a coastline on both the North Atlantic Ocean and the Mediterranean Sea. It has borders with Western Sahara to the south, Algeria to the east and the Spanish North African territories of Ceuta and Melilla on the Mediterranean coast in the north. It is just across the Strait of Gibraltar from Gibraltar. Morocco is composed mainly of Arabs and Berbers or a mixture of the two.
In 2007 the financial sector of Morocco maintained an economic environment conducive to further growth of banking activity following a very good year for the sector in 2006. Morocco’s banks have been largely unaffected by the credit crisis due to their limited connection to global financial markets. The number of people with a bank account increased from 25% in 2007 to 29% in 2008, while deposits rose by 11.1% to a record Dh572.3bn (€51.5bn), 20% of which belong to Moroccan nationals living abroad.
Private banks are increasingly moving towards universal banking, buying companies in all segments of the financial industry. As the rest of the world saw lending dry up, Moroccan banks issued more loans, showing 2.6% growth in the first five months of 2009.
|Agriculture||Tomatoes, mandarins, olives, vegetables, oranges|
|Manufacture||Textiles, leather, phosphates, automobiles, rock mining|
|Services (Including financial)||57.2% (2016 EST.)|
|El Alami Group||Industrial|
|Nareva||Oil & Gas|
The Casablanca Stock Exchange is a stock exchange in Casablanca, Morocco. The Casablanca Stock Exchange (CSE), which achieves one of the best performances in the region of the Middle East and North Africa (MENA), is Africa's third largest Bourse after Johannesburg Stock Exchange and Nigerian Stock Exchange in Lagos. Africa. It was established in 1929 and currently has 19 members and 81 listed securities with a total market capitalization of $75, 5 billion in 2007. The exchange is relatively modern, having experienced reform in 1993. The CSE installed an electronic trading system and is now organized as two markets: the Central Market and a Block Trade Market, for block trades. In 1997 the CSE opened a central scrip depository, Maroclear.
The current crisis emphasizes how decisive it is to be part of regional groups and calls upon Morocco to swiftly move forward on the advanced status with the European Union. By hence promoting innovative regional cooperation approaches, Morocco will contribute to the emergence of an area that can serve both as a buffer zone during times of crisis but also as a space to build shared responses and solutions. Moreover, it will be necessary to enhance security and migration-related surveillance at the regional level. Morocco must be especially vigilant about warding off ongoing and long-term threats related to climate and healthcare, by integrating the environmental dimension in its public policies and adopting adequate prevention and response mechanisms to natural disasters and risks of pandemics. Morocco will also have to prepare to contend with water and energy shortages, which are likely to worsen in the absence of a profound change of production and consumption modes at the global level and spark recurrent, systemic energy and food crises. Lastly, it will also be of paramount importance for the country to adopt an ongoing active approach to communication that is likely to sustain the trust of citizens and foreign partners alike.
The history of Morocco spans several millennia, succeeding the prehistoric cultures of Jebel Irhoud and Taforalt. It dates from the establishment of Mauretania and other ancient Berber kingdoms to the formation of the Almoravid dynasty, Idrisid dynasty, and other Islamic polities, through to the colonial and independence periods.
Archaeological evidence has shown that the area was inhabited by hominids at least 400,000 years ago. The recorded history of Morocco begins with the Phoenician colonization of the Moroccan coast between the 8th and 6th centuries BC, although the area was inhabited by indigenous Berbers for some two thousand years before that. In the 5th century BC, the city-state of Carthage extended its hegemony over the coastal areas. They remained there until the late 3rd century BC, while the hinterland was ruled by indigenous monarchs. Indigenous Berber monarchs ruled the territory from the 3rd century BC until 40 AD, when it was annexed to the Roman Empire. In the mid-5th century AD, it was overrun by Vandals, before being recovered by the Byzantine Empire in the 6th century.
The region was conquered by the Muslims in the early 8th century AD but broke away from the Umayyad Caliphate after the Berber Revolt of 740. Half a century later, the Moroccan state was established by the Idrisid dynasty. Under the Almoravid and the Almohad dynasties, Morocco dominated the Maghreb and Muslim Spain. The Saadi dynasty ruled the country from 1549 to 1659, followed by the Alaouites from 1667 onwards, who have since been the ruling dynasty of Morocco. In 1912, after the First Moroccan Crisis and the Agadir Crisis, the Treaty of Fez was signed, dividing Morocco into French and Spanish protectorates. In 1956, after 44 years of French rule, Morocco regained independence from France and shortly afterward regained most of the territories under Spanish control.
|Mohammed VI (King)||Princess Laila Salma (Queen)|
The dirham, is the currency of Morocco. The plural form is pronounced darahim, although in French and English "dirhams" is commonly used. Its ISO 4217 code is "MAD". It is subdivided into 100 santimat. The dirham is issued by the Bank Al-Maghrib, the central bank of Morocco. Before the introduction of a modern coinage in 1882, Morocco issued copper coins denominated in falus, silver coins denominated in dirham & gold coins denominated in benduqi. From 1882, the dirham became a subdivision of the Moroccan rial, with 50 Mazunas = 10 dirham = 1 rial. When most of Morocco became a French protectorate in 1912 it switched to the Moroccan franc.
The dirham was reintroduced on 16 October 1960. It replaced the franc as the major unit of currency but, until 1974, the franc continued to circulate, with 1 dirham = 100 francs. In 1974, the santim replaced the franc. In 1960, silver 1 dirham coins were introduced. These were followed by nickel 1 dirham and silver 5 dirham coins in 1965. In 1974, with the introduction of the santim, a new coinage was introduced in denominations of 1, 5, 10, 20 and 50 santimat and 1 dirham. The 1 santim coins were aluminium, the 5 up to 20 santimat were minted in brass, with the highest two denominations in cupro-nickel. Cupro-nickel 5 dirham coins were added in 1980 and changed to a bi-metal coin in 1987.
The bi-metal coins bear two year designations for the issue date—1987 in the Gregorian calendar and the 1407 in the Islamic calendar. The 1 santim was only minted until 1987 when new designs were introduced, with a ½ dirham replacing the 50 santimat without changing the size or composition. The new 5 dirham coin was bimetallic, as was the 10 dirham coin introduced in 1995. Cupro-nickel 2 dirham coins were introduced in 2002. In 2011, a new series of coins have been issued, with the 5 and 10 dirham coin utilizing a latent image as a security feature.
|National Song||"Hymne Chérifien"|
|Currency||Moroccan dirham (MAD)|
|GDP / GDP Rank||281.793 Billion USD|
|GDP Growth Rate||4.5 Percent|
|GDP Per Captial||$8330.402 (PPP)|
< 1.0% Christians
< 1.0% Hindus
< 1.0% Buddhists
< 1.0% Jews
< 1.0% Other Religions
King – Mohammed VI
Head of Government – Saadeddine Othmani
|Website||Go to the web|
|Public Debt||64.693 Percent|
|Unemployment Rate||9.983 Percent|
|Labor Force (Occupation)||-|