Bank Al-Maghrib (BAM) and the Competition Council are accelerating efforts to open Morocco's electronic payment market, aiming to foster competition and innovation. According to a joint statement released on July 10, 2026, the two institutions are working on a roadmap to facilitate the entry of new players, including fintech companies and non-bank institutions, into the payment sector.
The initiative follows a series of consultations with stakeholders and aims to reduce costs for consumers and businesses while improving service quality. BAM Governor Abdellatif Jouahri emphasized the need for a balanced regulatory framework that ensures security and stability while promoting competition.
Key measures include simplifying licensing procedures for payment service providers and establishing interoperability standards for payment systems. The Competition Council will monitor market practices to prevent anti-competitive behavior.
This move aligns with Morocco's National Financial Inclusion Strategy, which targets increasing the adult population's access to formal financial services to 75% by 2028. The electronic payment market in Morocco has grown significantly, with transaction volumes rising by 25% in 2025 compared to the previous year.
