Instruction Générale des Opérations de Change 2026 (IGOC 2026) - Office des Changes

The 2026 FX rulebook that governs how foreign money legally enters, trades and exits Morocco.

Single consolidated FX rulebook, restructured by type of operation and user profile. Sets how a non-resident brings money in, opens accounts, buys/sells Moroccan securities and takes money out. Key 2026 changes: residents may now grant asset & liability warranties to non-resident buyers in share sale deals; resident foreigners may transfer investment income up to MAD 2m/year without FX financing proof for investments held >10 years; hedging (FX, rate, asset risk) position netting extended. Entry into Moroccan equities is FREE (no prior authorisation) if funded in foreign currency through an authorised intermediary bank.