Bank Al-Maghrib (BAM) Governor Abdellatif Jouahri said Tuesday that British digital banking platform Revolut has expressed interest in entering Morocco, but the central bank is not prepared to consider such a move for now because of ongoing regulatory and strategic priorities.
Speaking at a press conference, Jouahri said Revolut representatives had expressed interest in the Moroccan market but that Bank Al-Maghrib could not respond favorably at this stage.
“We currently have three major projects that do not allow us to respond favorably to this type of request,” Jouahri said, according to Moroccan media reports. “Come back in a few years,” he added.
The governor did not fully rule out a Revolut deployment in Morocco, describing his decision as a delay rather than a permanent rejection, saying the central bank must first complete priority reforms before opening the market further to new international fintech players.
Revolut is a U.K.-based digital banking platform that operates through a mobile app, offering services such as multi-currency accounts, international money transfers, card payments, budgeting tools, and foreign exchange.
Moroccan media reported that Revolut has not filed a formal license application with Bank Al-Maghrib.
Jouahri said Moroccan banks and payment institutions already serve the customer segment targeted by Revolut. The decision gives local banks more time to adapt before potentially opening the market to additional international fintech operators.
In Morocco, similar services are partially offered by local banks and fintech solutions such as CIH Bank’s mobile banking app, Attijariwafa Bank’s digital services, and payment platforms like Inwi Money and Orange Money.
A closer comparison can be drawn with Attijariwafa Bank’s Simple neobank, which seeks to provide a fully digital banking experience through a mobile-first interface. Like Revolut, Simple offers account management, payments, and basic financial tools through an app.
However, its scope is more limited, particularly in areas such as multi-currency accounts, international transfers at competitive exchange rates, and advanced budgeting features. While Simple reflects Morocco’s move toward digital banking, it operates within the constraints of the local regulatory framework and traditional banking infrastructure, unlike Revolut’s more flexible and globally integrated model.
Discussions about a possible Revolut launch have generated significant interest on Moroccan social media, where users frequently complain about transfer fees and limited digital banking options.
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