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Stock market: Draft of new financial market law under review

Youssef Bouznada, Chairman of the Commission d'Organisation et de Surveillance des Opérations de Bourse (COSOB) (Stock Exchange Operations Organization and Supervisory Commission), announced on Saturday in Algiers that the Ministry of Finance is currently studying the draft of a new law on the financial market, which will help to promote the market and make it more attractive.

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During the annual conference on the Algerian financial market at the CIC "Abdellatif Rahal", significant reforms to the legal framework of the Algiers Stock Exchange were announced. These reforms include the introduction of insurance companies as stock market intermediaries, the introduction of Islamic sukuks and the promotion of green finance. The proposed law aims to replace the existing legislative decree with a more appropriate legal framework.

COSOB President Mr Bouznada highlighted the positive momentum in the stock market, driven by recent incentives and the inclusion of entities such as Crédit Populaire d'Algérie. He also stressed the need to improve financial literacy in Algeria.

The conference brought together experts from Algeria and abroad, including the Arab Monetary Fund, to discuss financing the national economy through the financial market. Panels and discussions highlighted liquidity challenges and the need to expand the stock market. Ali Ben Dhabb of the FMA praised the progress made by the Algiers Stock Exchange while recommending its expansion to boost activity even further.

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Stock market: Draft of new financial market law under review

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