Significant Growth in Remittances from Moroccan Diaspora
As of late April 2026, remittances sent by Moroccans living abroad, known as Marocains Résidant à l’Étranger (MRE), have reached an impressive total of approximately 39.98 billion Moroccan Dirhams (MDH). This information was released by the Moroccan Foreign Exchange Office (Office des Changes) in its latest bulletin detailing monthly foreign trade indicators. Compared to the same period last year, when remittances totaled 36.42 billion MDH, this represents a substantial increase of 9.8 percent. The growth translates to an absolute increase of around 3.55 billion MDH in the first four months of the year.
This current surge continues the positive trend observed in recent years. Data from the Foreign Exchange Office reveals that MRE remittances during the same period from January to April in 2022 were only 31.40 billion MDH, steadily rising to 35.97 billion MDH in 2023 and further to 37.28 billion MDH in 2024.
The Economic Impact of MRE Transfers
The Moroccan diaspora plays a crucial role in bolstering the economy of this North African nation. The remittances sent back home are considered the most vital source of foreign currency for Morocco, surpassing earnings from tourism, the automotive sector, and phosphate exports. According to reports from MAGHREB-POST.de, these remittances are projected to exceed 117.7 billion MDH for the entire year of 2024, which would constitute approximately 7.7 percent of Morocco's Gross Domestic Product (GDP).
Ensuring the continued flow of these financial resources is currently a priority for Moroccan financial diplomacy. This focus comes in light of stringent EU banking regulations enacted in 2024, which aim to restrict the operations of financial institutions from third countries within the European Union. Given that Moroccan banks maintain an extensive network of branches across at least seven European nations to facilitate diaspora remittances, there are legal challenges looming that could impede their banking connections.
In order to safeguard the smooth transfer of MRE billions, the Bank Al-Maghrib (BAM), under the leadership of Governor Abdellatif Jouahri, is negotiating special agreements. Following a bilateral understanding reached with France in June 2025—where over 30 percent of remittances originate—Morocco is now awaiting final confirmation from the European Commission. This approval is deemed essential for legally formalizing similar agreements with other European countries such as Spain, Germany, and Italy.
As reported by maghreb-post.de.
