On the sidelines of the launch of the futures market, the Minister of Economy and Finance, Nadia Fettah, announces a major transformation of the Moroccan financial market.
“The launch of the futures market is another decisive moment that we are experiencing today,” says the minister. “Our country is ready to launch the futures market and a Clearing House, which will complete the Moroccan capital market and bring it into the closed circle of financial centers with an integrated market infrastructure.”
This important step is accompanied by a structural transformation of the Moroccan financial market which is based “on essential pillars, namely the structuring of the Casablanca Stock Exchange into a holding company, which will lead to the filialisation of all value chain activities : the spot market, the futures market and the Clearing House (CCP), with a significant stake in Maroclear“, continues Nadia Fettah.
The latter announces, with a view to accelerating the deployment of this transformation, that today “the active participation of banks in the capital of the Clearing House (CCP)” has been recorded.
This will be followed by the transformation of the Stock Exchange into a holding company, “a new necessary and even essential step given the ambitions we have for our market, and given the equally historic turning point that our economy and our country are taking”, according to Nadia Fettah .
The Minister of Economy and Finance affirms that “the establishment of a derivatives market in our country is based on solid fundamentals, in particular a stable macroeconomic framework and a resilient financial sector and crowns a long process reforms”.
Finally, for the minister, “the development of the capital market can only be sustainable if, on the one hand, we permanently take into account the evolution of the risk environment which will certainly impose new standards and requirements and, on the other hand, we insert this development into the framework of responsible, inclusive and sustainable finance.”
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Morocco
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