Mohammedia – Morocco’s central bank, Bank Al-Maghrib (BAM), has published a new public guide outlining the regulatory pathway for fintech project holders seeking to operate within the country’s financial system.
Released in December 2025, the document is intended to provide clarity on how fintech initiatives interact with the central bank and the steps required for regulatory consultation or licensing
The guide explains that it is designed for project holders developing innovative financial services that fall under the central bank’s supervisory mandate.
These services may include activities related to payments, credit, fund transfers, or the collection of public funds.
While there is no legal definition of fintech in Morocco, the guide adopts an international understanding of the term as technology-driven financial innovation that can significantly affect financial markets, institutions, or services.
According to the document, BAM positions itself not only as a regulator but also as a point of contact for fintech developers at different stages of their projects.
Project holders may approach the central bank to request regulatory information, seek an opinion on a proposed business model, or submit a formal application for approval when required.
The guide details that initial regulatory consultations can take place even before a project is fully defined, allowing developers to better understand the applicable framework.
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The process described includes several stages, beginning with direct contact with the Directorate of Banking Supervision.
Meetings can be organized within short, indicative timeframes to discuss regulatory questions or present a project.
When a project requires formal authorization, applicants must submit a structured file including information on governance, business plans, funding sources, technical systems, and risk management arrangements.
Applications are examined through an iterative process that may involve additional information requests.
The guide states that requests for approval are generally processed within a maximum period of four months once all required documents have been submitted.
Decisions are taken following review by the Credit Institutions Committee and may result in approval without conditions, approval subject to specific commitments, or a refusal with justification.
Approved entities may begin operations only after publication of the decision and confirmation of compliance with any conditions set by the central bank.
BAM emphasizes through this publication its intention to support the development of a dynamic and responsible fintech ecosystem.
The guide also clarifies that it does not replace existing laws or regulations and excludes certain activities such as internal innovations by already licensed institutions or services focused solely on regulatory or supervisory technology.