Canonical: https://unicorncurrencies.com/send-money-to/morocco/

# Intelligence: Sending Money to Morocco

## Banking Requirements

- **Code:** **IBAN**

- **Format:** 24-character IBAN (Morocco MA format)

## Route Context

- **Use case:** Pay Moroccan suppliers for phosphates, textiles, automotive parts, agricultural products

- **Published local rails:** SIMT (Système Interbancaire Marocain de Télé-compensation), SRBM (Système de Règlement Brut du Maroc), M-Wallet

- **Timing note:** Settlement and credit timing depend on rail availability, funding, cut-offs, compliance review, correspondent handling, and receiving-bank release.

## Payment Control

- Check beneficiary details before release.

- Confirm payment purpose and invoice context.

- Keep proof available if the supplier says funds have not arrived.

- Review deductions if the amount lands short.

## Regulatory

- Bank Al-Maghrib FX regulations

- Moroccan Customs documentation

- VAT (20%) on goods and services

- Office des Changes oversight for FX transactions

## Key Industries

- Phosphates

- Textiles

- Automotive

- Agriculture

- Manufacturing

## Tips

- Morocco = Phosphate leader (70% global reserves), automotive hub

- SIMT standard for MAD payments

- Casablanca + Tangier = Main business/manufacturing centers

- EU trade ties - close integration with European supply chains