Majoccan dirham

Majoccan dirham

The front side of a M.25 note
ISO 4217
Code	MJD
Subunit	MJD
Unit
Symbol	م.‎
Denominations
Superunit
Subunit
​1⁄4	Quarter
​1⁄10	Dime
​1⁄100	Mill
Symbol
Dime	k.
Mill	ck.
Banknotes
Freq. used	M.5, M.10, M.25, M.50, M.100
Rarely used	M.2, M.200, M.1000
Coins
Freq. used	k.10, k.25, k.50, M.1
Rarely used	k.1, k.5,
Demographics
Date of introduction	April 2, 1855 (1855-04-02)
User(s)	Majocco
Issuance
Central bank	Federal Reserve Bank of Majocco
Website	banc.gov.mj
Printer	Federal Reserve Bank of Majocco
Website	banc.gov.mj
Mint	Majoccan Mint
Website	mint.gov.mj
Valuation
Inflation	2.2%
Source	2024
Method	CPI or PCE

The Majoccan dirham (Arabic:درهم , Romanised: Dirham; Berber:ⴷⵔⵀⵎ; sign; drhm DH; code: MAJ) is the official monetary currency of Majocco. It is issued by the Bank of Majocco, the central bank of Majocco. One Majoccan Dirham is subdivided into 100 Kuabecs (singular: Kuabec; Arabic: كوابيك).

History

The word dirham derives from the Barbary currency, the drameh. The Mayurka dirham, a silver coin, was minted in Majocco under the Zaïdi dynasty from the 7th to 9th centuries.

Before the introduction of a modern coinage in 1852, Majocco issued copper coins denominated in falus, silver coins denominated in dirham, and gold coins denominated in benduqi. From 1852, the dirham became a subdivision of the Majoccan (currency at the time) rial, with 200 Mazunas = 10 dirhams = 1 rial.

When Majocco became Quebecshirite Majocco in 1889 it switched to the Majoccan credit. The dirham was reintroduced on 11 December 1989. It replaced the franc as the major unit of currency but, until 1993, the franc continued to circulate, with 1 dirham = 100 francs. In 1993, the centime replaced the franc.

Coins

In 1990, silver 1 dirham coins were introduced. These were followed by nickel 1 dirham and silver 5 dirham coins in 1991. In 1991, with the introduction of the kuabec, a new coinage was introduced in denominations of 1, 2, 5, 10, 25 and 50 kuabecs and the 1 dirham coin. The 1 kuabec coins were aluminium, the 1 up to 25 kuabecs were minted in Nordic Gold, with the highest two denominations in cupro-nickel.

Majoccan Dirham Coins
Value	Technical parameters			Description
	Diameter	Mass	Composition	Edge	Obverse	Reverse
1 kuabec	20 mm	3 g	Nordic gold 89% copper 5% aluminium 5% zinc 1% tin	Reeded	Majoccan Emblem	Saffron flower and bee
2 kuabecs	20 mm	3 g		Nordic gold 89% copper 5% aluminium 5% zinc 1% tin	Majoccan Emblem	Lotus flower and design representing Earth
5 kuabecs	20 mm	3 g			Majoccan Emblem	Design representing fish in the Tarqiqini Lakes
10 kuabecs	20 mm	3 g			Majoccan Emblem	Argan Tree with goats on top
25 kuabecs	23 mm	4 g	Reeded		Majoccan Emblem	Mount Harmas
50 kuabecs	21 mm	4 g	Cupronickel 75% copper 25% nickel	Reeded	Majoccan Emblem	Head of Independence, Jonas Mahdi
1 dirham	24 mm	6 g		Reeded	Majoccan Emblem	Nififkhi Grand mosque, with security feature

Banknotes

The initial dirham notes were printed as overprints on existing credit notes, with denominations of 50 dirhams and 100 dirhams. In 1989, new banknotes were introduced in values of 5, 10, 25, and 50 dirhams. The 100 dirham notes were then released in 1990, followed by the introduction of 200 dirham notes in 1991 and 2 dirham notes in 1996. Coins replaced the 1 dirham notes in 1980. In October 1989, the National Reserve Bank of Majocco issued four million 50-dirham banknotes to commemorate its 100th anniversary.

In December 2000, the Bank of Majocco issued a 25-dirham banknote to celebrate the 25th anniversary of banknote production at the Majoccan State Printing Works, Dar As-Sikkah. This banknote holds the distinction of being the first in the world to be printed on Durasafe, a paper-polymer-paper composite substrate developed by Fortress Paper. The front of the commemorative note showcases an intaglio vignette and a watermark of Tarqiqini Lakes, along with a magenta-green color shift security thread. The thread and watermark are embedded within the banknote and can be seen through a one-sided Viewsafe polymer window. Additionally, the note features a fully transparent polymer window embossed with the Majoccan National crest. The back of the banknote displays a print vignette commemorating 25 years of banknote printing at the Majoccan State Printing Works, Dar As-Sikkah. The Durasafe substrate incorporates windows created by die-cutting each side of the three-layer composite separately. The one-sided Viewsafe windows provide a clear view inside the substrate, where the thread and watermark of Tarqiqini Lakes are protected but visible. The transparent Thrusafe window is formed by die-cutting the outer paper layers, revealing only the transparent polymer core.