Revolut has held exploratory talks with Morocco's central bank, which cited three regulatory priorities blocking a potential market entry.
Abdellatif Jouahri, governor of Bank Al-Maghrib, confirmed that a Revolut delegation comprising mainly senior UK executives alongside a Moroccan representative visited Rabat earlier in June 2026. The meeting was described as exploratory, with the delegation citing Morocco's macroeconomic indicators and its potential as a gateway for further African expansion.
Jouahri clarified that the delegation did not come to request a banking licence, stating that Bank Al-Maghrib is currently engaged in three major institutional processes that do not allow the central bank to respond favourably to this type of request at present.
The first involves ongoing negotiations with European partners over new EU regulations governing cross-border banking. Remittances represent a critical pillar of Morocco's economy, reaching USD 12.2 billion in 2024, and any regulatory disruption to flows from the Moroccan diaspora concentrated in France and other European countries carries significant consequences for the country's foreign currency reserves and domestic investment.
The second concerns scheduled evaluations by the World Bank and the International Monetary Fund, expected before the end of 2026, which assess the resilience of Morocco's financial system and its alignment with international standards.
The third involves a forthcoming review by the Financial Action Task Force, known by its French acronym GAFI, focusing on Morocco's anti-money laundering and counter-terrorism financing compliance. Jouahri described this as one of the most sensitive files for financial authorities, given its direct impact on Morocco's standing among international investors and institutions.
In addition, Jouahri noted that Moroccan banks are already active in the digital segment Revolut is targeting, pointing to Attijariwafa Bank's launch of Simple in May 2026, a full-service digital banking application offering online account opening, virtual and physical cards, and instant transfers.
Revolut's position
Revolut's Morocco push began in 2025, when the company appointed Yacine Faqir, a former World Bank and Mastercard executive, as its Morocco-based chief executive. Faqir stated that the meeting was constructive and that Revolut fully understands and respects the current constraints facing the institution, confirming the company remains committed to the Moroccan project.
Revolut reported revenue of approximately USD 5.8 billion for 2025, a 46% increase year on year, with pre-tax profit reaching approximately USD 2.2 billion, up 57%. Its global user base stood at 68.3 million, and the company has announced plans to invest approximately USD 12.6 billion over five years across Latin America, Asia-Pacific, the Middle East, and Africa.
Regulatory experts have estimated that any Moroccan market entry would require between 12 and 24 months from preparation through to deployment, and have suggested that a partnership model with a local bank may prove more realistic than a standalone licence.
