Moroccan exporters have 150 calendar days from the date of shipment of the goods (date shown on the transport document) to repatriate their foreign-currency proceeds to an approved Moroccan bank account. This deadline applies to all exports regardless of destination, value or nature of the goods. The domiciliation bank is responsible for monitoring this deadline and reporting any overrun to the Office des Changes. *Reference: Art. 2 de l'IGOC — Instruction Générale des Opérations de Change.*
For exports of services (consulting, engineering, software, tourism, transport…), the deadline for repatriating proceeds is 90 days from the date the service was performed or the invoice date, whichever comes first. Offshore companies and exporting IT service firms must obtain a domiciliation for each service contract exceeding 100,000 MAD. Proceeds may be received in foreign currency into a professional account opened for that purpose. *Reference: IGOC, Titre II — Exportations de services.*
If the 150-day deadline (goods) or 90-day deadline (services) is exceeded, the domiciliation bank must inform the Office des Changes within 8 days of the deadline expiring. The exporter is then in a situation of foreign-exchange infraction. The Office des Changes may: Require written justification (commercial dispute, buyer insolvency, loss/claim) Grant an additional period upon a substantiated request Refer the file to the public prosecutor for prosecution (repeated infractions or significant amounts) It is strongly advised to request a prior authorization as soon as non-repatriation becomes foreseeable.
A repatriation delay is regularized by a written request to the Office des Changes via the domiciliation bank. The file must include: Correspondence with the foreign buyer (reminders, formal notices) Any court decision or ongoing arbitration proceeding A repayment schedule if an amicable agreement has been reached Where applicable: a loss certificate, buyer bankruptcy notice, or credit insurance attestation The Office des Changes handles regularizations on a case-by-case basis. Exporters in good standing who suffer a commercial loss generally receive leniency if the file is well documented.
A partial repatriation is possible but must be justified. In the context of a commercial dispute, the foreign buyer may pay partially. The exporter must: Repatriate the portion received within the required deadlines Document the unpaid balance and pursue collection efforts Inform its domiciliation bank of the situation If the exporter holds a professional foreign-currency account, it may offset exchange-rate differences, foreign bank fees and collection costs against proceeds before repatriation, within the limits authorized by the Office des Changes.
Exports free of charge (donations, commercial samples, promotional gifts) are allowed without an obligation to repatriate proceeds, provided: The FOB value does not exceed 5,000 MAD per shipment for samples The free-of-charge nature is justified (mention "No commercial value" on the invoice, an Office des Changes form for higher amounts) For large-scale donations, express authorization from the Office des Changes is obtained These shipments remain subject to normal customs formalities (DEM on BADR). The bank does not issue a domiciliation visa for free-of-charge exports.
In principle, export proceeds must be received in foreign currency for the repatriation to be valid. However, exceptions exist: Exports to GZALE zone countries: settlements in dirhams are sometimes accepted if the partner central bank provides for it Exports to Mauritania: settlements in convertible dirhams are possible Outside these cases, a settlement in dirhams by a foreign buyer means the currency remains blocked abroad — which is not considered a valid repatriation by the Office des Changes The exporter must ensure its bank validates the settlement method before delivery.
For international B2C sales (e-commerce, crafts, local products), payments by foreign bank card (Visa, Mastercard) pass through payment platforms (Stripe, PayPal, Payoneer, CMI Export…). Office des Changes framework: These proceeds must be repatriated within 150 days of the sale date. The exporter's Moroccan bank must receive the funds into an authorized dirham or foreign-currency account. Platforms such as Stripe are not always domiciled in Morocco — it is recommended to use CMI Export or go through a Moroccan bank with an agreement with the payment platform to ensure traceability for the Office des Changes.
Bank domiciliation for exports is mandatory for any export whose FOB value exceeds 10,000 MAD. Procedure: 1. Before shipment: give the bank the commercial contract or purchase order + the pro forma invoice 2. The bank assigns a domiciliation number (e.g., 123-2024-456789) 3. This number must appear on the DEM (Export Declaration) filed on BADR 4. After shipment, provide the final invoice + transport document (B/L, LTA, CMR) 5. Upon receipt of the foreign currency, the bank allocates the proceeds to the domiciliation and closes the file Without a valid domiciliation number, customs (ADII) will refuse the export visa.
Transferring a domiciliation file from one bank to another is possible but regulated. The exporter must: 1. Obtain written agreement from the current bank for the transfer 2. Present the complete file (contract, invoices, DEM) to the new bank 3. The new bank notifies the Office des Changes of the change of domiciliation bank 4. The domiciliation number remains unchanged — only the bank code is modified in BADR In practice, transfers are rare and often refused by the outgoing bank if the file presents a risk of non-repatriation. It is preferable to close out pending files before changing your main bank.
The export domiciliation number is made up of 15 characters structured as follows: 3 digits: code of the domiciliation bank (e.g., 011 = Attijariwafa) 4 digits: year of domiciliation (e.g., 2024) 8 digits: unique sequential number assigned by the bank This number must be shown on the Export Declaration (DEM) in the dedicated field in BADR. Customs performs an electronic check of the domiciliation before affixing the export visa. The number is also referenced on the commercial invoice and the transport document in certain cases.
Regular exporting companies can obtain the status of Exportateur Permanent Agréé (EPA) ("Approved Permanent Exporter") from the Office des Changes. Advantages: Ability to declare on the invoice instead of using the EUR.1 for shipments to the EU Simplified domiciliation procedures (a single annual global domiciliation is possible) Post-clearance controls rather than systematic controls A dedicated contact at the Office des Changes for authorization requests Conditions: export volume > 500,000 MAD/year, 3 years of regular track record, no foreign-exchange infraction. The application is filed with the Office des Changes along with the financial statements of the last 3 fiscal years.
Resident companies are allowed to open a professional foreign-currency account if their export revenue represents at least 25% of total annual turnover (calculated over the last 2 fiscal years). Required documents: Tax filings for the last 2 fiscal years Statutory auditor's attestation of the export share Domiciliation statements for the last 12 months These accounts can be opened in any freely convertible currency (EUR, USD, GBP, CHF, JPY…) with approved Moroccan banks. The maximum authorized balance is set by the Office des Changes based on export turnover.
Eligible companies may retain up to 70% of their export proceeds in foreign currency in their professional accounts. The remaining 30% must be surrendered to the foreign-exchange market (bought by the bank in dirhams). This 70% cap represents a significant improvement over the previous regime (50%). The authorized balance is calculated based on export turnover for the prior fiscal year and capped at 12 months of flows. These funds can be used to pay foreign suppliers directly, repay foreign-currency loans, or serve as a natural hedge against exchange-rate risk.
Funds held in a professional foreign-currency account can be used for: Import payments: direct payment of foreign suppliers without converting to dirhams Repayment of foreign loans contracted in accordance with regulations Payment of royalties, licenses and license fees to foreign parent companies Business travel expenses abroad (transfer to an international payment card) Term deposits in foreign currency with the bank (interest in foreign currency) These funds cannot be used for real estate purchases abroad or investments outside the framework authorized by the Office des Changes.
An SME whose export share is below 25% of turnover may nonetheless benefit from certain foreign-exchange mechanisms: Compte Étranger en Dirhams Convertibles (CEDC): reserved for non-residents, but a Moroccan subsidiary of a foreign group may access it Forward sale of foreign currency: the bank buys the future currency at a guaranteed rate (exchange-risk hedge) — no threshold required Foreign-currency pass-through accounts: opened temporarily to manage a specific export market, subject to Office des Changes authorization Special authorization request to the Office des Changes for significant one-off export projects
The Compte Étranger en Dirhams Convertibles (CEDC) is intended for non-resident individuals and legal entities (foreigners, MRE in non-resident status, foreign subsidiaries). It allows the holder to: Receive transfers in foreign currency, converted into dirhams at the day's rate Make local payments in dirhams (purchases, rent, salaries) Reconvert the balance into foreign currency for repatriation at any time Foreign companies carrying out operations in Morocco (public contracts, projects) often use the CEDC to manage their local cash flow. Outgoing transfers are unrestricted within the limit of funds actually repatriated.
Foreign-currency transfers between two Moroccan residents (companies or individuals) are in principle prohibited without Office des Changes authorization. Exchange-control regulation aims to prevent dollarization of the economy. Authorized exceptions: Payment for an international transport service (shipowner, freight forwarder) Contract between subcontractors within a joint export project (with Office des Changes authorization) Intragroup transactions between Moroccan subsidiaries of an international group (subject to authorization) In all other cases, settlements between residents must be made in dirhams, even if the invoice is denominated in foreign currency.
The Déclaration d'Importation (DI, "Import Declaration") is mandatory for any import of goods whose value exceeds 5,000 MAD. Documents to attach to the DI: Pro forma invoice or purchase order from the foreign supplier Technical data sheet or catalog if the product is subject to standards or restrictions Import license if the product is subject to quota (medicines, agricultural inputs, etc.) Inspection report if required by the contract or the authorities The DI is filed with the domiciliation bank before opening the documentary credit or before any payment if payment is on sight. The bank checks compliance and assigns an import domiciliation number.
The Déclaration d'Importation (DI) is valid for 6 months from the date the bank issues the visa. If delivery occurs after this period, the importer must obtain an extension from its bank. For long-term supply contracts or multi-year public contracts, an open DI can be kept active as long as partial deliveries continue under the same contract. Each delivery is allocated against the main DI. The DI is closed upon final settlement and verification that the entire quantity of goods has been delivered and paid for.
Imports free of charge (goods received without financial consideration) do not require a DI. They are processed by customs with the mention "No Commercial Value" on the invoice and follow normal customs procedures (IM4 clearance). Common types: Samples from foreign suppliers (indicative value only) Spare parts under warranty (return merchandise authorization) Humanitarian donations or research equipment Goods sent on consignment for testing For donations worth more than 50,000 MAD, Office des Changes authorization may be required. Consignment goods that will not be purchased must be re-exported within the customs deadlines.
Advance settlement (payment before receipt of the goods) is authorized up to a limit of 30% of the DI amount for ordinary imports. Beyond that, Office des Changes authorization is required. For capital goods, manufacturing lead times may justify larger advance payments (up to 100% in certain sectors), subject to supporting documents: contract, delivery schedule, supplier bank guarantee. Advance payments must be recovered or offset against the final invoice within 12 months. In the event of non-delivery, the importer must recover the funds or file a complaint and inform the Office des Changes.
Supplier credit (deferred payment for the import after receipt) is authorized under the following conditions: Standard term: up to 90 days from delivery without special authorization Extended term (90 to 365 days): authorization from the domiciliation bank based on contractual supporting documents Supplier credit > 1 year: Office des Changes authorization required — treated as a foreign loan Any interest on supplier credit must be domiciled and settled separately. The interest rate cannot exceed LIBOR + 2% (or EURIBOR + 2%) without special authorization.
Payment of royalties for the use of patents, trademarks, know-how or copyrights to foreign companies is authorized subject to: A duly registered license agreement (sometimes notarized) The royalty rate being consistent with market practice (the Office des Changes may require a transfer-pricing study) Payment of the 10% withholding tax (CGI Art. 15) before transfer Bank domiciliation of the contract if amounts are significant (> 100,000 MAD/year) Royalties between companies of the same international group are subject to arm's-length verification by the tax administration.
Commissions paid to foreign commercial agents for export prospecting or representation are authorized up to a limit of 3% of the FOB value of the exports realized, without prior authorization. Beyond 3%, Office des Changes authorization is required. The agency contract must be presented to the bank. Commissions are subject to the 10% withholding tax if the agent is a company, unless a double-taxation treaty (CDI) provides for a reduced rate. Representation expenses for international trade shows, prospecting missions and advertising abroad follow a separate regime with a distinct cap.
Payments for software licenses, SaaS subscriptions (AWS, Microsoft 365, Adobe…) and IT services to foreign providers are authorized without a specific Office des Changes cap, subject to: A clear commercial invoice identifying the service Bank domiciliation for amounts > 100,000 MAD Payment of the withholding tax (10% for software, 0% for direct professional use depending on interpretation) Large companies may obtain waivers for bundled payments (a single transfer for several licenses). The Office des Changes distinguishes "tool" software (exempt) from "know-how" software (subject to royalty treatment).
Moroccan residents can buy foreign currency for business travel abroad within the following limits: Business travel: equivalent of 100,000 MAD per person per trip — purchased from the bank upon presentation of the plane ticket and an employer's attestation Training expenses abroad: covered by the company via direct transfer to the training organization (unlimited, on supporting documents) Booths at international trade shows: Office des Changes authorization for amounts > 500,000 MAD International bank cards (Visa Business, Mastercard) also allow spending abroad within limits set by the bank.
Forward exchange allows an exporter/importer to lock in today the exchange rate for a future transaction (export in 90 days, import in 6 months). Available from all approved Moroccan foreign-exchange banks. Conditions: A firm order or an existing DI/domiciliation Maximum duration: 12 months (extensions possible with authorization) Currencies covered: EUR, USD, GBP, CHF, JPY, CAD and other liquid currencies The company benefits from a guaranteed rate regardless of how the exchange rate moves. If the goods are not delivered, the hedge may be cancelled at the market's unwind cost.
Currency options (the right but not the obligation to buy/sell currency at a set rate and date) have been authorized in Morocco since 2013 but remain little developed. Availability: Banks: Attijariwafa Bank, BMCE, CIH offer vanilla options (calls and puts) Products available: European options on EUR/MAD, USD/MAD Minimum transaction size: generally 500,000 MAD equivalent Premium: paid upfront (2% to 5% depending on maturity and strike) Currency swaps (temporary exchange of currencies with an obligation to return them) are not available to non-financial companies in Morocco.
Natural hedging consists of balancing incoming and outgoing flows in the same currency to cancel exchange-rate risk without financial products. Examples: An exporter who receives USD can pay for its imported raw materials in USD (without conversion) A company with an authorized foreign-currency account can settle its foreign suppliers in EUR without going through MAD For companies that cannot open a foreign-currency account (export turnover < 25%), forward sales remain the main alternative. Bank Al-Maghrib encourages companies to adopt systematic hedging strategies to reduce their exposure to exchange-rate risk.
Under Moroccan accounting rules (Plan Comptable Général marocain), foreign-currency transactions are recorded at the exchange rate of the day of the transaction. Year-end adjustments generate translation differences: Asset (appreciated foreign-currency receivables) → asset translation difference → not taxable Liability (appreciated foreign-currency debts) → liability translation difference → not deductible (a provision is possible) Realized exchange losses (upon actual settlement) are tax-deductible. Realized exchange gains are taxable. The use of hedging products (forwards, options) also generates exchange results to be recorded according to the hedge-accounting method (Moroccan CNC).
Foreign investors who have made a Foreign Direct Investment (IDE) in Morocco benefit from freedom to repatriate profits, dividends, disposal proceeds and income of any kind, provided the initial investment was duly declared. Conditions: Investment declaration to the bank at the time the funds enter Obtaining an investment attestation (a bank document confirming the funds entered in compliance with regulations) Payment of Moroccan taxes (corporate tax, withholding tax on dividends: 15% or the CDI treaty rate) Repatriation is carried out upon presentation of the tax filing, the shareholders' meeting minutes approving the dividends, and the tax-payment attestation.
Moroccan residents (legal entities) may invest abroad within an annual allowance set by the Office des Changes. Since 2014, the cap has been 200 million MAD per year per company for direct investments (equity stakes, creation of a subsidiary). Procedure: 1. Prior declaration to the bank and the Office des Changes 2. Domiciliation bank's approval (verification of financial capacity) 3. Annual report to the Office des Changes on the progress of the investment SMEs can access this allowance for smaller amounts (setting up a representative office, minority stake). Proceeds from these investments (dividends received from foreign subsidiaries) must be repatriated.
Resident companies may contract foreign-currency loans abroad (bank loans, issuance of international bonds) within a foreign-debt policy supervised by the Office des Changes and BKAM. Conditions: Minimum term: 3 years for loans contracted from foreign banks Mandatory declaration to the bank and the Office des Changes before disbursement Repayment: funds available in an authorized foreign-currency account or currency purchased from the bank International bonds (Euro Medium Term Notes, Eurobonds) issued by large Moroccan companies (OCP, Maroc Telecom) require special authorization from the MEF and the Office des Changes.
When a foreign investor disposes of its shareholding in a Moroccan company, the disposal proceeds may be freely repatriated, provided the initial investment was duly declared. Documents required: Notarized or private-deed disposal agreement (SPA) Attestation of the disposal value (valuation report or justified market price) Evidence of the initial acquisition price (original investment attestation) Certificate of no outstanding tax liability (quitus fiscal) The capital gain on disposal is subject to the 20% withholding tax (or the CDI treaty rate). If the disposal value exceeds 50 million MAD, prior Office des Changes authorization may be required.
Moroccans Residing Abroad (MRE) benefit from a liberal regime for their transfers to Morocco. They can: Freely transfer their income legally earned abroad to their accounts in Morocco Open foreign-currency or convertible-dirham accounts in Morocco Import personal property upon a permanent return to Morocco (customs exemption under certain conditions) Permanent return: an MRE who returns permanently to Morocco benefits from a settling-in allowance (purchase of goods, transfer of savings) with no cap, subject to supporting documents. They have a period of 3 years to repatriate their assets.
An MRE can buy real estate in Morocco using funds repatriated from abroad with no restriction on the amount. The procedure: 1. Transfer of funds from the foreign account to the Moroccan convertible-dirham account 2. Payment of the sale price to the notary 3. The notary records the origin of the funds in the deed of sale Tax benefit: the disposal capital gain is exempt if the property is the primary residence or has been held for more than 8 years. Resale: the resale proceeds may be repatriated up to the initial acquisition price plus the after-tax capital gain. The bank issues a repatriation attestation upon presentation of the property titles and the sale contract.
Foreign workers legally residing and working in Morocco may transfer abroad up to 50% of their net monthly salary, after payment of Moroccan taxes (income tax). Conditions: Legalized employment contract and valid residence visa Transfer via an approved Moroccan bank Employer's attestation of net salary and the income-tax withholding No absolute cap if the worker has a domiciliation clause in their contract For senior foreign executives with high remuneration, prior agreement with the bank is recommended for amounts exceeding 50,000 MAD/month.
Under the Dahir du 30 août 1949 on exchange control (as amended), the statute of limitations for foreign-exchange infractions is 3 years from the date the infraction was committed. This limitation period is interrupted by: Any prosecutorial act by the Office des Changes or the public prosecutor Any request for information or formal notice Discovery of an infraction during an audit For concealed infractions (fictitious exports, overinvoicing), the period runs from the date of discovery by the authorities. Serious infractions (proven fraud, illicit transfers) may benefit from longer statute-of-limitations periods under the penal code.
Infractions of foreign-exchange regulations in Morocco are handled at two levels: Administrative: the Office des Changes may impose administrative fines and order regularization without going to court (for minor infractions) Criminal: serious infractions (deliberate non-repatriation, fictitious export, money laundering) are brought before the Parquet de Casablanca competent for exchange-related matters, then before the competent Tribunal de Commerce The Office des Changes may also refer matters to the Commission des Changes (an inter-ministerial body) for policy decisions. Administrative decisions of the Office des Changes may be appealed before the Tribunal Administratif.
Voluntary disclosure allows an operator to regularize a foreign-exchange infraction before any prosecution, benefiting from a significant reduction in sanctions. Procedure: 1. Contact the Office des Changes (Direction du Contrôle des Changes, Rabat) by registered letter 2. Explain the nature, duration and amount of the infraction 3. Attach all supporting documents (DEM, invoices, account statements) 4. Repatriate any funds not yet brought in, if still recoverable 5. The Office des Changes sets the reduced fine (generally 10 to 25% of the irregular amount) Voluntary disclosure suspends criminal proceedings while the file is being processed. It demonstrates the operator's good faith and is always preferable to waiting for an audit.
The scale of sanctions set out by the 1949 Dahir (as amended) and its implementing texts: Non-domiciliation or late domiciliation: fine of 1,000 to 5,000 MAD Partial non-repatriation (deadline missed, good faith): fine of 10% of the amount not repatriated Total intentional non-repatriation: fine of 100% + possible imprisonment (1 to 5 years) Fictitious export (goods never shipped): fine of 200% + confiscation + imprisonment Overinvoicing on imports (illicit outflows of foreign currency): fine of 300% + criminal prosecution Repeat offense: penalties doubled The Office des Changes also has the power to suspend an operator's foreign-trade authorization.
Bank Al-Maghrib (BKAM) acts as Morocco's central bank and intervenes in exchange regulation in several ways: Setting the exchange rate: daily publication of the official dirham rates against major currencies (the reference for all transactions) Approval of intermediary banks authorized to carry out foreign-exchange operations Regulation of hedging instruments: authorizations for forwards, options, swaps Oversight of the interbank foreign-exchange market Cooperation with the Office des Changes on the control of financial flows Exporters and importers do not interact directly with BKAM but are affected by its monetary-policy decisions (dirham rate, foreign-exchange reserves, exchange-rate policy).
The Crédit Documentaire (CREDOC) ("documentary credit") is the most secure international payment instrument. The buyer asks its bank (the issuing bank) to open a credit in favor of the Moroccan seller. How it works (UCP 600): 1. The foreign buyer opens an L/C with its bank 2. The issuing bank notifies the Moroccan bank (the advising bank) 3. The Moroccan exporter ships the goods and presents the required documents 4. The Moroccan bank checks the documents for compliance 5. If compliant: payment is guaranteed to the exporter (within 5 banking days) Office des Changes advantage: an L/C confirmed by a Moroccan bank guarantees repatriation of proceeds — the Office des Changes treats a compliant presentation as a presumption of good faith.
Export credit insurance protects the exporter against the risk of non-payment by the foreign buyer (commercial risk) and political risk (country risk). Operators in Morocco: Attijari Assurance (formerly MAMDA/MCMA Export) Euler Hermes Maroc (an Allianz Trade subsidiary) COFACE Maroc (partnership with Moroccan banks) Indemnification: generally 90% of the unpaid amount after a waiting period. Link with the Office des Changes: in the event of a claim, the credit insurer recovers the receivable and carries out the repatriation steps in the exporter's place, relieving the latter of this obligation.
Within the Grande Zone Arabe de Libre-Échange (GZALE), payments retain their Office des Changes specifics. There is no unified Arab clearing system (contrary to what the original agreement envisaged). In practice: Settlements are made in USD or EUR (not in Arab dinars) Each transaction is subject to normal Office des Changes rules (domiciliation, repatriation) Some countries (Saudi Arabia, UAE) allow settlements in dirhams via bilateral banking arrangements Repatriation deadlines remain 150 days regardless of destination Moroccan exporters must stay vigilant about the solvency of their Arab partners, particularly in politically risky countries.
Payments for services to foreign (non-resident) providers are subject to a withholding tax (RAS) deducted by the Moroccan debtor before transfer: | Type of service | RAS rate (CGI Maroc) | |---|---| | Royalties / license fees | 10% | | Dividends | 15% | | Interest | 10% | | Equipment rentals | 10% | | Fees / consulting | 10% | | International transport | exempt | These rates can be reduced by the Double Taxation Treaties (CDI) signed with France (5.65%), Spain (5%), the UAE (0%)… The RAS must be paid to the DGI within 30 days of payment and declared via the RAS form.
Insurance policies taken out abroad by Moroccan residents (legal entities or individuals) are in principle prohibited without special authorization from the Office des Changes. The Insurance Law (Book I) provides that risks located in Morocco must be covered by companies approved in Morocco. Authorized exceptions: Export cargo insurance: the policy may be taken out abroad if the Incoterm requires the buyer to cover transport (FOB, FCA, CFR) General risks insurance of foreign subsidiaries of Moroccan companies Compulsory insurance in the foreign country (vehicle third-party liability in Europe) Premiums paid abroad without authorization constitute a foreign-exchange infraction.
Commercial invoices denominated in foreign currency between two Moroccan resident companies are permitted for business purposes (a practice in the aviation, maritime and petroleum sectors), but the actual settlements must be made in dirhams at the official rate of the day. A Moroccan company may issue an invoice in USD to another Moroccan company to reflect an international price (aircraft parts, fuel, containers), but the bank transfer is made in MAD. Exception: offshore companies set up in free zones (Tanger Free Zone, CFC) may invoice in foreign currency and receive settlements in foreign currency from their resident clients.
The Instruction Générale des Opérations de Change (IGOC) is the fundamental text governing all foreign-exchange operations in Morocco. The last major revision dates from 2022 (circulaire OFC n°2022-01). Main recent developments: Easing of the foreign-currency retention cap (from 50% to 70%) Extension of the allowance for investments abroad (200 M MAD/year) Digitization: authorization requests can be submitted online via the Office des Changes portal Simplification for exporting SMEs (streamlined procedures for export turnover < 5 M MAD) New instruments: authorization of currency options and simple derivative products It is advisable to consult the official Office des Changes portal (www.oc.gov.ma) for the most recent circulars.