Global fintech powerhouse Revolut has appointed Yacine Faqir as Chief Executive Officer for its operations in Morocco, marking a pivotal step in the company’s North African strategy. The appointment comes just three months after Amine Berrada, a former Uber executive, was named Head of Strategy and Operations for the country.
Faqir joins Revolut following a two-year tenure at Mastercard, where he served as Vice President of Products and Solutions for Northern and Francophone Africa. His career spans leadership roles in payments, credit infrastructure, and regulatory consulting, including work with the World Bank and the launch of Dun & Bradstreet’s credit bureau in Morocco.
Strategic Role and Mandate
As CEO, Faqir is tasked with spearheading Revolut’s market entry, leading licensing discussions with Bank Al-Maghrib, and adapting the company’s global product suite to Moroccan regulatory and consumer realities. His responsibilities include:
- Building a local team
- Ensuring compliance with anti-money laundering and consumer protection standards
- Navigating Morocco’s tightly regulated financial sector
- Leading Revolut’s transition from a payment operator to a fully licensed bank within the next two years.
Revolut’s Broader African Strategy
Revolut’s move into Morocco is part of a phased African expansion, which began earlier in 2025 with its entry into South Africa, led by Jacques Meyer. The company is also exploring licensing opportunities in other markets, including the UAE and Israel.
Morocco offers a strategic gateway into Francophone Africa and the MENA region, thanks to its growing fintech ecosystem and government-backed digital transformation agenda. The country’s young, urban population and increasing demand for digital financial services make it an attractive market for Revolut’s app-first banking model.
Global Momentum
Revolut, founded in London in 2015, has evolved into a financial super-app offering multi-currency accounts, trading, insurance, crypto, and more. As of the end of 2024, the company:
- Served 52.5 million customers globally
- Reported £3.1 billion in revenue
- Achieved £1.1 billion in pre-tax profits
- Held banking licenses in 30 jurisdictions
Regulatory Landscape in Morocco
Revolut’s entry into Morocco is being closely monitored by Bank Al-Maghrib, which has emphasized the need for balance in the financial system. Governor Abdellatif Jouahri confirmed meetings with Revolut’s board to assess its business model, founders’ credentials, and global track record. He noted that any license granted would be tailored to the nature of Revolut’s proposed operations.
Implications for the Market
If successful, Revolut’s launch could reshape Morocco’s digital banking landscape, intensifying competition in areas such as cross-border payments, mobile banking, and financial inclusion. It would challenge incumbents like Orange Money, Chipper Cash, and Wave, and potentially catalyze broader innovation across the sector.
