Revolut Eyes Expansion into Morocco Amid EU Regulatory Challenges
Rabat, Tuesday, 2 September 2025.
Revolut, the UK fintech firm, is in talks to enter Morocco, marking its first African venture. This move aligns with Morocco’s push for digital banking amid EU regulatory changes affecting diaspora funds.
Revolut’s Strategic Move into Morocco
Revolut, the UK-based fintech giant, has entered discussions with Bank Al-Maghrib (BAM), the central bank of Morocco, to potentially expand its operations into the Moroccan market. This initiative, if successful, would mark the first time Revolut establishes a presence in Africa. The fintech company aims to capitalize on the Moroccan market’s need for lower banking costs and to cater to the significant Moroccan diaspora, which sends substantial funds back home annually [1].
Challenges and Opportunities in the Moroccan Market
Moroccan consumers currently face high banking fees, averaging between 1,000 to 2,000 dirhams (€95 to €190) per year for services such as account management and international transfers. The potential entry of Revolut could offer a cost-effective alternative to these services. Moreover, in 2024, Moroccans living abroad remitted over 117 billion dirhams (€11.1 billion) to their home country, highlighting a lucrative market for Revolut’s low-cost money transfer services [1][2].
Regulatory Hurdles and the EU Context
The expansion into Morocco comes amid tightening EU regulations that could affect the flow of diaspora funds. The EU’s CRD6 directive, introduced in July 2024, mandates stricter rules for foreign bank branches, potentially increasing compliance costs for Moroccan banks operating in Europe. These changes could indirectly pressure the Moroccan banking sector to adapt, creating an opportunity for digital banking solutions like Revolut’s [1][2].
Balancing Innovation with Privacy
Despite the potential benefits, Revolut’s entry into Morocco is not without challenges. The country’s data protection law, enacted in 2009, is considered outdated and may not adequately safeguard against modern technological threats, including those posed by artificial intelligence. This creates a complex legal environment for Revolut, which must navigate these regulations while ensuring consumer data protection [1].