Revolut appoints Yacine Faqir to lead Moroccan push

Revolut, a London-headquartered fintech firm, has appointed Yacine Faqir as its new CEO in Morocco.

Faqir joins after a two-year stint at Mastercard, where he held the role of Vice-President of Products and Solutions for Northern and Francophone Africa.

His experience in regional financial innovation and product development positions him to navigate the regulatory and infrastructure complexities of the Moroccan market.

The appointment comes just three months after fintech announced the appointment of Amine Berrada to head strategy and operations in Morocco.

This move signals the company’s growing ambition in North Africa. In Morocco, Revolut plans to start out as a payment operator and then pursue a full banking licence within the next two years.

The country offers an attractive entry point which is a growing fintech ecosystem, a government-backed digital transformation agenda, and a Francophone link for Revolut.

Revolut is valued at around $75 billion, the company reported 52.5 million retail customers in 2024 and revenue of £3.1 billion.

The number of customers using Revolut as their primary bank rose 59 percent year-on-year, according to data.

For Morocco, the challenge will be establishing regulatory relationships, building local trust, tailoring its product offering to local needs, and competing with existing players in digital banking and payments.