Currency in Western Sahara

Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.

By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Western Sahara.

Western Sahara - Is it safe?

The safety situation in Western Sahara can vary depending on the specific location and current events. The territory is currently under Moroccan control, and a long-standing dispute over its sovereignty continues, which can lead to tension and sporadic bouts of violence.

There are also regular protests and demonstrations in Western Sahara, particularly in the larger cities such as El Aaiún and Dakhla, and these can sometimes turn violent. The Moroccan authorities have been known to disperse these protests forcefully, which can lead to injury or arrest.

Mining and oil exploration activities also bring foreign workers to the area, but they also have been known to face harassment, especially if they work in mines that are operated by companies with links to Morocco.

While most foreigners are not targeted in Western Sahara, it's important to note that the political situation in the area is unpredictable and can change rapidly. There are also many restrictions for travelers. Access to certain areas may be restricted, and there have been reports of harassment, arrest and even detention of foreigners trying to access certain areas, particularly in refugee camps and those areas where the Polisario Front is present.

Due to the ongoing disputed status and tensions in the area, the US State Department advises against all travel to Western Sahara and the United Nations Mission for the Referendum in Western Sahara (MINURSO) also recommends against travel to the area. If you do decide to travel to Western Sahara, it's important to stay informed about the situation, follow the guidance of local authorities, and be prepared for restrictions on movement and communication.

Managing your finances in Western Sahara

Here we list some key points for expats and businesses to consider when managing financial dealings in Western Sahara:

1. Understand Moroccan dirham currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the MAD exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.

2. Use a local Moroccan dirham bank account: A local MAD bank account can make it easier for you to manage your finances and pay bills while you are in Western Sahara. It may also be more convenient to use a local MAD bank account to make purchases and withdraw cash.

3. Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Western Sahara. This can help you avoid legal issues and ensure that you are complying with local requirements.

4. Consider the tax implications: It is important to understand the tax implications of living or doing business in Western Sahara. This can help you plan your finances and ensure that you are paying the correct amount of tax.

5. Seek financial advice: If you are unsure of how to manage your finances in Western Sahara, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.