5 Francs

The Banque d'État du Maroc was established under the Act of Algeciras in 1906, a multinational agreement that gave fourteen European powers and the United States a stake in Moroccan financial affairs — making it one of the more unusual central banking arrangements in colonial history. France held the dominant position in practice, but the bank's charter formally precluded any single nation from controlling it outright. By 1921, that fiction was increasingly strained.

Imprimerie Chaix was primarily a commercial and poster printer, closely associated with Jules Chéret's lithographic work. Their involvement in banknote production was relatively limited, which makes this series a minor curiosity in the history of French security printing. Léon Leclerc's design credit appears on several Chaix-printed colonial issues of the period.