The governor of Morocco's Central Bank, Bank Al-Maghrib (BAM), has finally commented on the entry of British neobank Revolut into the Moroccan market. Speaking Tuesday in Rabat during a press briefing following the third quarterly meeting of BAM's Council in 2025, Abdellatif Jouahri recalled that Revolut representatives were received last June by BAM's General Directorate. «The board of the British digital bank plans to visit Rabat in October to present its projects», he announced. Revolut is seeking a phased entry into Morocco, beginning as a payment operator with ambitions to obtain a full banking license within two years. Commenting on that, Jouahri underlined that the granting of a banking license in Morocco is subject to strict criteria, including the industrial project, added value, proven experience, and respect for overall market balance. «We cannot allow a new player to destabilize the market», he stressed. He further noted that in several countries, Revolut's license had been limited to certain activities, emphasizing that BAM would adopt a similar approach adapted to Morocco's specific context. «When an operator requests a license, we examine their project, technical expertise, and contribution to the national economy, while also considering the profile of the founders», he explained. Discussions with Revolut, he said, focused in particular on the Moroccan financial system, national regulations in relation to international financial licensing, and anti–money laundering measures. While awaiting BAM's decision, the fintech giant, boasting a global user base of 60 million, has already begun recruiting to support its upcoming operations. In July, Revolut appointed Amine Berrada, former operations director for Uber in Southern and Eastern Europe, as its first executive to head Moroccan operations. Valued at over €40 billion, Revolut offers a fully digital, smartphone-based banking experience, including instant account opening, fee-free international payments, multi-currency cards, trading, cryptocurrency services, and budgeting tools, features that strongly appeal to a young, mobile, and connected clientele. Founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, Revolut has since become one of the world's leading fintech players.
