A Moroccan money market fund (OPCVM monétaire) is the most liquid savings product available in Morocco. It invests in short-term instruments — Treasury bills, bank certificates — and offers near-capital preservation with daily redemption. Our simulator projects your net capital after the 20% capital gains tax.
If you need your cash accessible at any time, a money market fund beats a term deposit. But if you can commit capital for 6 months or more and want a contractually guaranteed rate, a term deposit often yields more net of fees. Use our savings comparator to see both side by side.
Money market funds are the ideal solution for parking an emergency fund or short-term cash awaiting redeployment. They suit all investor profiles — from individuals seeking a better return than a current account to businesses managing surplus treasury. Near-immediate liquidity (redemption within 48 hours) makes them the only Moroccan vehicle that combines availability, safety and a return above the savings rate. They are also a recommended starting point before moving into higher-risk products.
Subscribe through your bank or directly with an AMMC-licensed asset manager. Leading firms in the money market segment include Attijari Asset Management, BMCE Capital Gestion, CDG Capital Gestion, CFG Asset Management and Wafa Gestion. Minimum subscriptions range from MAD 100 to MAD 10,000 depending on the fund. Compare weekly net asset value performance published by the AMMC before choosing: spreads between fund managers can reach 0.3–0.5 percentage points within the same category.
Illustrative scenario computed with our simulator: 50,000 MAD initial capital, 500 MAD monthly contribution, indicative annual return of 2.5% / yr, taxation 20% redemption gains (2026 Finance Act). Indicative figures — past performance does not guarantee future results.
| Horizon | Total invested | Gross capital | Estimated tax | Net-of-tax capital | Net gain |
|---|---|---|---|---|---|
| 1 yr | 56 000 MAD | 57 334 MAD | 267 MAD | 57 067 MAD | +1 067 MAD |
| 3 yrs | 68 000 MAD | 72 562 MAD | 912 MAD | 71 650 MAD | +3 650 MAD |
| 5 yrs | 80 000 MAD | 88 570 MAD | 1 714 MAD | 86 856 MAD | +6 856 MAD |
| 10 yrs | 110 000 MAD | 132 271 MAD | 4 454 MAD | 127 816 MAD | +17 816 MAD |
| 15 yrs | 140 000 MAD | 181 783 MAD | 8 357 MAD | 173 426 MAD | +33 426 MAD |
| 20 yrs | 170 000 MAD | 237 881 MAD | 13 576 MAD | 224 304 MAD | +54 304 MAD |
Over 20 years, a saver who set aside 170 000 MAD in total would build net-of-tax capital of 224 304 MAD — a 1.32× multiple of cumulative savings.
For the same savings effort (50,000 MAD + 500 MAD/mo), here is the estimated net-of-tax capital under the 2026 Finance Act:
| Product | Indicative rate | Tax (2026) | After 5 yrs | After 10 yrs | After 20 yrs |
|---|---|---|---|---|---|
| Money-market fund | 2.5% / yr | 20% redemption gains | 86 856 MAD | 127 816 MAD | 224 304 MAD |
| Term deposit | 3% / yr | 30% withheld | 87 283 MAD | 129 137 MAD | 229 632 MAD |
| Bond fund | 4% / yr | 20% redemption gains | 91 359 MAD | 140 533 MAD | 269 613 MAD |
Over 20 years, Money-market fund produces 0.94× the net capital of Term deposit (224 304 MAD vs 229 632 MAD) in this scenario. Adjust these inputs to your profile with our savings comparator.
Sources: Bank Al-Maghrib — key rate and monetary statistics; AMMC — OPCVM regulation and statistics. Calculations are indicative and non-contractual.