100 Francs

The Banque d'État du Maroc was a French-controlled institution operating under the terms of the 1906 Act of Algeciras, which placed Moroccan banking firmly under European — predominantly French — oversight. This note was issued during the final and most turbulent years of that arrangement, when Sultan Mohammed V's push for independence was accelerating. France deposed him in 1953, just after this series closed.

Beltrand came from a distinguished family of engravers; his work for the Banque de France was technically rigorous and stylistically conservative, which suited the colonial issuer's preference for metropolitan credibility over local expression. Broutin handled the reverse with comparable precision.