Dalil is an independent research publication on Morocco's financial markets - original analysis, dated economic monitors, and company research - alongside a free, clearly-labelled delayed-data dashboard covering the Casablanca Stock Exchange, the dirham, crypto, commodities, and global macro.
Dalil (دليل) means "guide" in Arabic. The name reflects the project's purpose: to be a clear, reliable guide to Morocco's financial markets for investors, diaspora, students, and anyone curious about the Moroccan economy.
Dalil publishes original research on the Moroccan market: dated monitors of the economy, refreshed after each official release from the HCP, Bank Al-Maghrib and the Office des Changes; research profiles of the largest listed companies; and explainers written for readers with no finance background. Alongside that writing, the site carries a delayed-data dashboard, so a figure cited in an article can be checked against the market without a subscription, a login, or prior expertise. Everything is free and publicly accessible.
Dalil covers the full spectrum of data relevant to Moroccan financial markets:
Dalil is built for three overlapping audiences:
Moroccan retail investors who want a single dashboard to track their CSE portfolio, monitor currency movements, and follow economic news - without paying for expensive Bloomberg terminals or navigating fragmented data sources.
Moroccan diaspora living in France, Spain, Belgium, the Gulf, and beyond who want to stay connected to home market performance, track remittance exchange rates, and follow Moroccan economic news through delayed updates.
International investors and researchers looking for consolidated, accessible data on Morocco's capital markets, macroeconomic indicators, and the dirham exchange rate as they evaluate exposure to North African equities or the broader MENA region.
Financial data should be accessible. In Morocco, quality market data has historically been locked behind expensive subscriptions or scattered across dozens of websites with poor interfaces. Dalil exists to change that - to give anyone with internet access broad access to market information that is often fragmented or expensive.
Dalil is an independent research publisher covering Moroccan markets. The written work is the point: dated research on the Moroccan economy, company profiles built from filings and results, explainers on how the market and its taxes actually work, and a public corrections log. A delayed-data dashboard sits alongside that reporting as a reference tool, with every source attributed and every delay labelled. Dalil is not a brokerage and not a financial advisor, and no one involved is a licensed adviser.
Dalil is published, written, and maintained by Suzuki Kenta, working independently. There is no editorial staff and no contributors: every article, company profile, and research page on this site is written and edited by one person, and the corrections log records what that person got wrong. Public point of contact: [email protected] - emails are read and answered directly.
Dalil is not affiliated with any brokerage, bank, asset manager, exchange, or Moroccan financial institution, and is not sponsored or endorsed by any company it covers. It carries no sponsored posts and no paid placements. The project exists to make Moroccan market data and research more accessible, not to sell a financial product.
Every data source is declared on the Data Sources page and every update cadence on the Methodology page. When a value is missing, the page shows a neutral placeholder rather than substituting fabricated data. When data comes from a delayed feed, the badge on the dashboard says so.
Dalil does not claim finance credentials. It is not a place to get investment advice, a prediction, or a forecast. It is a place to read what the market is already saying, with the data sources named up front. Financial judgement is the reader's responsibility.
Dalil is: an independent research publisher writing about Moroccan markets - dated economic research, company profiles, articles, a glossary and sector overviews, all written for this site; a set of calculators built around Moroccan tax rules; and a free delayed-data dashboard covering Morocco and selected global markets.
Dalil is not: a brokerage, a trading platform, a financial advisor, a registered investment adviser, a news outlet, or a source of personalised recommendations. No order can be placed through Dalil. No portfolio management is offered. No forecasts are published. Nothing on the site should be taken as investment advice - see the disclaimer for full detail.
Two practical problems motivated Dalil. First, reliable Moroccan market data tends to sit behind paid Bloomberg-style terminals or scattered across inconsistent websites - many of which present the same data with different delays, different formats, and no source attribution. Second, the Moroccan diaspora in Europe and the Gulf often struggles to follow home market performance and remittance exchange rates from abroad without assembling their own toolkit. Dalil addresses both by putting MASI, Casablanca Stock Exchange equities, dirham FX pairs, commodities, bonds, and Moroccan economic news into a single, consistent interface that loads quickly and works without a login.
Dalil is built as a modern web application running on Cloudflare's global edge network, ensuring fast load times from anywhere in the world - including Morocco, the Gulf, and Europe. Data is fetched from multiple APIs, cached intelligently to respect rate limits and reduce costs, and served to users with minimal latency. The frontend is a React single-page application; the content pages (like this one) are static HTML for fast loading and SEO indexability.
All market data on Dalil is delayed. Between upstream feed delays and Dalil's own caching, a displayed value can be meaningfully older than the exchange's current price: Casablanca Stock Exchange quotes (including MASI) may be up to about 90 minutes old, exchange rates up to about 4 hours old, global indices up to about an hour old, precious metals up to about 8 hours old, and crypto prices up to about 15 minutes old. Bond yields and policy rates are daily reference values, not intraday quotes. Data accuracy depends on the upstream providers - we display what they provide, with source labels shown. See Methodology and Data Sources for the full table.