Any Person who engages in any of the Licensed Financial Activities referred to in item (1) of Article (61) of this decree-law without a license or authorization shall be punished by imprisonment and a fine of not less than fifty thousand (50,000) Dirhams and not exceeding five hundred million (500,000,000) Dirhams, or by either of these two punishments.
Interpretation and application must be checked against the official text and current version.