50 Francs

The Banque d'État du Maroc was a Franco-Moroccan institution operating under a concession arrangement — technically an independent issuing authority, but functionally an arm of French monetary policy in the Protectorate. This note was printed by the Banque de France's own workshops in Paris, which handled colonial and protectorate issues alongside metropolitan French currency during this period.

Robert Armanelli and Camille Beltrand were both accomplished intaglio specialists on the Banque de France's permanent engraving staff. Beltrand in particular came from a distinguished family of French engravers — his father Jules Beltrand was equally well regarded in that trade.

Morocco's independence came in 1956, after which the Banque d'État du Maroc was wound down and replaced by Bank Al-Maghrib.