Morocco’s biggest bank launches instant homeward transfers

Attijariwafa Bank has launched Attijari Transfer, a money transfer app that allows Moroccans in the UK to facilitate instant transfers to bank accounts in Morocco. Attijariwafa Bank is Morocco’s largest bank and one of its oldest, serving more than 12 million customers across its network.

The launch of the transfer app continues the bank’s digital banking push. In May, it launched Simple, a super app bringing financial services, lifestyle, and entertainment under one roof.

The bank operates in 27 countries spanning Africa, Europe, and the Middle East. Although it does not disclose how its customers are distributed geographically, estimates put the Moroccan population in the UK at about 100,000 people.

A further 3 to 4 million Moroccans live across Europe, particularly in France, Spain, Belgium, Italy, and the Netherlands, making the diaspora one of the country’s most important economic blocs.

The launch reflects growing competition for Morocco’s remittance market, one of the largest in Africa. Remittances have long been a vital source of foreign exchange for the country, with billions of dollars flowing home each year from Moroccans living abroad. That has historically been the playground of global money transfer companies. But banks and fintechs are increasingly looking to make cross-border payments cheaper and faster.

Attijariwafa Bank says the app is the first UK-based money transfer application launched by a Moroccan bank. While several providers, including fintechs and rival financial institutions, already enable transfers from the UK to Morocco, the bank’s launch signals a broader shift among incumbents to build their own digital remittance channels instead of relying solely on third-party partners.

Morocco has also become a more attractive market for international fintech companies. In 2025, Revolut demonstrated its commitment to entering the country by appointing Yacine Faqir, a former Mastercard executive, to lead its Moroccan operations. Although the company has yet to announce an official launch, the appointment suggests it sees long-term opportunities in one of North Africa’s largest financial markets.

The country’s appeal extends beyond its domestic banking sector. Morocco is home to one of Africa’s largest diaspora populations, creating steady demand for cross-border financial services.

At the same time, the central bank has gradually modernised the payments ecosystem by supporting digital payment infrastructure and expanding the role of licensed payment institutions. These changes have encouraged greater competition while making it easier for financial technology companies to enter the market.

Last updated: July 7, 2026