The Central Bank of Morocco has announced the establishment of the Morocco Fintech Center (MFC) as an association designed to serve as a common desk for fintechs and to support their development through mentoring, incubation and acceleration, and skills development programmes. The MFC also aims to help fintechs navigate the regulatory environment and improve access to financing, while promoting partnerships, networking, and research and development in financial innovation. The founding members span public authorities and financial regulators, state-backed finance and digital bodies, universities, and major financial-sector firms, with the constituent general meeting approving the possibility for other organisations to join. At the inaugural Board meeting chaired by Bank Al-Maghrib Governor Abdellatif Jouahri, the Board appointed Mustapha Lahlali as Executive Director, designated representatives to a Monitoring Committee to assist the Executive Director, and agreed initial priority actions, the budget, and members’ contributions.
Central Bank of Morocco 2025-01-15
Central Bank of Morocco supports launch of the Morocco Fintech Center association and names its executive director
The Central Bank of Morocco established the Morocco Fintech Center (MFC) to support fintech development through mentoring, incubation, and skills programs. The MFC aims to assist fintechs in navigating regulations and improving access to financing, while fostering partnerships and innovation. At the inaugural Board meeting, Mustapha Lahlali was appointed Executive Director, and initial priority actions, budget, and member contributions were agreed upon.