10 Francs

The Banque d'État du Maroc was a peculiar institution — nominally a Moroccan central bank but majority-owned by a consortium of European powers under the terms of the 1906 Act of Algeciras, which formalized international financial control over the Sultanate years before the formal French Protectorate began. These notes circulated across that entire transitional period, covering both the early Protectorate years and the strains of the Second World War on French North Africa.

Adolphe Giraldon was a respected decorative artist whose work appeared across several French colonial issues of the period. The obverse plate was engraved by Marguerite Dreyfus, known professionally as Rita — one of the few women to work as an engraver at the Banque de France during that era.