Morocco's AMMC publishes a guide to its route for fintech applicants

Morocco's capital market regulator, the AMMC, published a guide on 26 October that sets out how fintech projects deal with it, from a first question to a request for its opinion, the authority said.

The Guide du parcours Fintech, dated October 2026, applies mainly to innovative projects within the capital market and the AMMC's powers. It lists crowdfunding, digital investment platforms, trading and robo-advice, blockchain and tokenisation, RegTech and data and artificial intelligence tools as examples. Requests go through a fintech portal and come in two kinds, information requests and meeting requests. The guide says the portal asks for little information and its fields are not mandatory, and that the data protection authority CNDP authorised the processing of personal data on 26 August 2022.

A founder can ask regulatory questions while a project is still being designed, describing the project, the activities planned and the issues identified. For an opinion, the guide recommends sending a presentation, the business model, the services, the target clients, how the solution works, the partners, the stage of the project, an indicative timetable and any exchanges with other authorities. After review the AMMC may give regulatory guidance, ask for more analysis, say that an activity falls under a specific framework or refer the founder to another authority, such as Bank Al-Maghrib or the insurance supervisor ACAPS.

Crowdfunding projects are sent to a separate crowdfunding portal, which holds the texts, the licence applications and the list of licensed platforms. The guide says the AMMC has had a dedicated innovation department since 2022 and that the three financial regulators set up the Morocco Fintech Center as a non-profit association on 15 January 2025. It does not create a sandbox, a licence or a deadline for answers.

The AMMC announced the guide two days before it approved the prospectus for the LAPROPHAN initial public offering. Elsewhere on our beat, Brazil's CVM opened a public call on its corporate governance report, and the IMF urged Gulf finance ministers to build legal, regulatory and supervisory frameworks for digital assets.