Casablanca – Morocco is taking a significant step forward in the development of its financial technology sector through a strategic partnership between Bank Al-Maghrib (BAM), the European Bank for Reconstruction and Development (EBRD), and a consortium of Korean institutions. This collaboration, formalized through a memorandum of understanding (MoU) signed on February 12, 2025, aims to enhance the country’s fintech ecosystem and accelerate its growth.
A technical assistance program to boost fintech
At the heart of this partnership is a technical assistance program called “Boosting Morocco’s Regulatory Fintech Ecosystem.” This initiative is designed to provide targeted support for Morocco’s financial technology sector, facilitating regulatory improvements and promoting innovation. It is backed by key Korean institutions, including:
- Export-Import Bank of Korea
- Korea Financial Telecommunications & Clearings Institute (KFTC)
- Korea Institute for International Economic Policy
With the increasing role of fintech in driving financial inclusion and economic growth, this collaboration is expected to create a more structured and enabling environment for fintech companies operating in Morocco.
The launch of the Morocco Fintech Center (MFC)
A crucial development in Morocco’s fintech landscape is the recent establishment of the Morocco Fintech Center (MFC). This organization was created as part of the country’s efforts to build a more dynamic and regulated fintech industry. On February 12, 2025, the founding members of the MFC held their inaugural general assembly in Rabat, marking the official launch of the association.
The MFC’s primary mission is to serve as a centralized hub for fintech companies, offering a structured framework to help startups and businesses navigate the regulatory landscape, access funding opportunities, and benefit from incubation and acceleration programs. By acting as a bridge between industry players and regulatory bodies, the MFC will play a pivotal role in fostering a more transparent and efficient ecosystem.
Key objectives of the partnership
Through this alliance, Morocco aims to achieve several strategic objectives, including:
- Providing regulatory guidance: Helping fintech startups understand and comply with financial regulations.
- Facilitating access to funding: Creating better financing opportunities for emerging fintech companies.
- Supporting growth through incubation & acceleration programs: Assisting fintech businesses in scaling their operations through structured mentorship and financial support.
- Enhancing collaboration: Strengthening partnerships between local and international stakeholders to promote knowledge-sharing and innovation.
- Advancing financial innovation research: Encouraging research initiatives that drive technological advancements in financial services.
A step towards a more structured fintech market
The Moroccan fintech industry has been experiencing steady growth in recent years, driven by increased digitalization and a strong push for financial inclusion. However, the sector still faces challenges related to regulation, funding, and industry collaboration. The partnership between BAM, EBRD, and Korean institutions represents a strategic move to address these gaps and accelerate the formalization of Morocco’s fintech landscape.
By bringing together expertise from Moroccan, European, and Korean institutions, this initiative is expected to pave the way for a more competitive and innovative fintech sector in Morocco. With increased investment, regulatory support, and access to global best practices, Morocco is positioning itself as a regional hub for fintech innovation in North Africa.
The signing of this MoU marks a turning point in Morocco’s efforts to strengthen its fintech ecosystem. With the launch of the Morocco Fintech Center and the backing of international partners, the country is setting the stage for a more structured, innovative, and competitive fintech market. This initiative is not only expected to benefit local startups but also to attract foreign investment and foster stronger international cooperation in the fintech space.
As Morocco continues to embrace digital transformation, the fintech sector is poised to become a key driver of economic growth and financial inclusion in the future.
