Morocco’s Central Bank Weighs Revolut’s Entry, Balancing Innovation and Market Stability

"Revolut has expressed interest in the Moroccan market," said Abdellatif Jouahri, during a press conference held at the end of the quarterly meeting of the Bank Al-Maghrib (BAM) Council for the year 2025. He was keen to recall that the British fintech giant, which operates in several countries around the world, had held a meeting last June with the general management of BAM. "The Board of Directors of the British digital bank plans to make a visit to Rabat next October to present its projects," added the Governor of BAM.

Regarding the granting of a banking license in Morocco, Jouahri explained that this is subject to several criteria, including the industrial project, the added value, the expertise and the respect of the balance of the market in general. He adds: "When an actor submits a license application, we study his project, his technical competence, as well as what he can bring to the national economy, in addition to learning about the identity of the founders." And to reassure: "It is not possible for us to allow a new player to destabilize the market."

The Wali of Bank Al-Maghrib also stated that the license granted to "Revolut" in a number of countries has been limited to specific activities. According to him, the Moroccan central bank will adopt a similar approach taking into account national specificities. "The discussion with the Revolut executives mainly focused on the Moroccan financial system, the local regulatory framework compared to international financial approval, as well as efforts to combat money laundering," he specified.

Founded in June 2014 by Nikolay Storonsky and Vlad Yatsenko, Revolut is a British fintech company based in London. It is the first European digital banking establishment. It offers several financial and banking services via a mobile application: debit cards, current accounts, investment products, foreign exchange and payments, insurance, consumer credit and savings products, etc. With a portfolio of sixty million customers spread across more than 35 countries, Revolut is the most valued Fintech in Europe.