5 Dirhams - al-Hassan II

Thomas De La Rue printed this note during a period when Morocco was consolidating its post-independence banking infrastructure — Banque du Maroc had only been established in 1959 to replace the old Banque d'État du Maroc, itself a relic of the 1906 Algeciras Act that had placed Moroccan monetary affairs under international supervision. The 5 Dirham denomination sat at the lower end of everyday transactional currency, and this series saw heavy use in rural markets and small commerce throughout the early 1970s, meaning survivors in any reasonable condition are harder to find than the print run alone would suggest.

The signature pairing is notable: El Mdaghri as Governor alongside Prince Moulay Hassan Ben Medhdi El Alaovi as a high-level signatory reflects the careful integration of royal authority into state financial institutions that characterized Hassan II's governance.