According to Moroccan experts, the growth of “electronic currencies” internationally has prompted the Moroccan Bank to try to explore electronic currency and approve the electronic dirham, in search of faster and less expensive financial transactions compared to paper currencies.
Al-Jawahiri said, in a press conference in Rabat: “We are cooperating with the Fund and the World Bank to discuss ways to approve the e-Dirham project. We have a committee that has been working on the issue for more than a year,” according to what Anadolu Agency reported.
He added: “We first studied the goal of adopting the electronic currency, by recalling international experiences, and we conducted an internal experiment to test the use of the electronic dirham on a World Bank platform in Washington.”
He continued: “We have tested the method of performing electronic currency in installments, in addition to evaluating the operational path of its trading system.”
According to Al-Jawahiri, “The most difficult thing is to come…it concerns the legal and regulatory problems and the implications for the basic tasks of the Central Bank and for monetary policy.”
He concluded, “The project cannot be downloaded (implemented) tomorrow, but rather in the medium or long term, and we must prepare well to be ready.”
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