10 000 Francs

The Banque d'État du Maroc was a Franco-Moroccan institution established in 1907 under the Act of Algeciras, and by the early 1950s it was printing its highest-denomination notes against a backdrop of intensifying nationalist pressure. The 10,000-franc denomination — the largest in the series — was issued during the final, turbulent years of the French Protectorate, which ended in 1956. Sultan Mohammed V was deposed and exiled by French authorities in August 1953, the same year this note entered circulation, a political rupture that made any imagery associated with the Moroccan throne immediately charged.

Beltrand's engraving work for the Banque de France ateliers was among the finest intaglio production in mid-century French colonial currency. The Poilliot–Piel pairing on the reverse was a recurring combination in the workshops during this period.