Organized by the Commission for the organization and supervision of stock exchange operations (Cosob), in collaboration with the Algerian Union of Insurance and Reinsurance Companies (UAR), the workshop on revitalizing the Algerian financial market was attended by several figures from the economic sector, including the Minister for the Economy, Knowledge, Start-ups and Micro-enterprises, Yacine Oualid. During the event, the member of the government stressed
the total commitment of the Ministry of Finance and the entire Government to supporting the transformation of the financial market.
The diversification of the national economy and the revitalization of the financial market are closely linked. Emphasis was also placed on the need for close cooperation between all parties concerned. The sector will pursue the reforms needed to facilitate access to financing, encourage investment and support business growth effectively.
As the financial market’s contribution to financing the national economy is limited, the Algiers Stock Exchange has not yet fully exploited its potential. The Minister stressed the importance of intensifying the efforts of all public and private players to boost the financial sector and make it more attractive to investors.
Companies, whether public or private, must be encouraged to take the decision to go public and use the financial market as an alternative to financing, in order to consolidate their governance and competitiveness,
said Finance Minister Laaziz Faid. The sector’s strategy for making the financial market more dynamic is based on regulatory and institutional reforms. These aim to establish a stable regulatory framework, in line with international standards, guaranteeing transparency and investor protection.
Financial innovations : the integration of innovative solutions such as green finance, Islamic finance and other developed financial products was encouraged. The Minister believes that these modern approaches will offer financing options tailored to the needs of businesses.
Faid also raised the issue of financial education programs to familiarize economic operators with financial market instruments. This financial education would encourage the development and financing of SMEs and start-ups. This would be achieved through the creation of a dedicated department at the Algiers Stock Exchange. This would give them easy access to the capital they need. Cosob Chairman Youcef Bouznada emphasized that the organization of this workshop was part of the “accelerated dynamic” experienced by the Algerian financial market, in response to directives from the Minister of Finance aimed at consolidating the capacities of executives in the financial market field and reinforcing their skills to keep pace with developments in this vital economic sector.
The forum is an “important event” that marks a new dynamic for the financial market and the role of intermediaries in the organization of securities trading operations. It is therefore an opportunity to highlight the strategies to be adopted to enhance the attractiveness of the financial market.
