Rabat: Revolut, a British multinational digital banking service, has expressed interest in entering Morocco’s digital banking market. This was highlighted by the Governor of Bank Al-Maghrib (BAM), Jouahri, during a press briefing following the BAM Board’s third quarterly meeting of 2025. Jouahri mentioned that Revolut was received by BAM’s senior management in June and that the bank’s board of directors plans to visit Rabat in October to discuss its projects further.
According to Agence Marocaine De Presse, Jouahri emphasized that the process of granting banking licenses in Morocco is governed by strict criteria. These include evaluating the business plan, the potential added value, the applicant’s experience, and ensuring the stability of the market is maintained. The governor noted, “We cannot allow a new player to destabilize the market.”
Jouahri also pointed out that Revolut’s licenses in other countries have often been limited to specific activities. He assured that Bank Al-Maghrib would adopt a similar approach, tailored to Morocco’s national specificities. The evaluation process for granting a license involves analyzing the project, technical expertise, contribution to the national economy, and the profiles of the founders.
The discussions with Revolut also touched upon the Moroccan financial system, the alignment of Moroccan regulations with international financial standards, and efforts to combat money laundering, Jouahri added.