250 Dirhams - Mohammed VI Moroccan Phosphate Company

The Office Chérifien des Phosphates, founded in 1920 under the French Protectorate, controls roughly 70% of the world's known phosphate reserves — a geological accident that has shaped Moroccan foreign policy, treaty negotiations, and state finances for a century. This issue commemorates the company's restructuring into OCP S.A. under Mohammed VI, part of a broader privatization-adjacent reform that retained full state ownership while modernizing the corporate structure for international bond markets.

Bank Al-Maghrib's commemorative silver program of this period produced numerous 250-dirham pieces to the same Britannia-standard specification, most in limited mintages distributed through the central bank directly.