{"id":8726,"date":"2024-10-21T10:55:07","date_gmt":"2024-10-21T09:55:07","guid":{"rendered":"https:\/\/dzwatch.dz\/?p=8726"},"modified":"2024-10-21T10:55:08","modified_gmt":"2024-10-21T09:55:08","slug":"finance-minister-faid-reaffirms-governments-commitment-to-strengthening-the-financial-market-and-its-funding-mechanisms","status":"publish","type":"post","link":"https:\/\/dzwatch.dz\/?p=8726","title":{"rendered":"Finance Minister Faid Reaffirms Government\u2019s Commitment to Strengthening the Financial Market and Its Funding Mechanisms"},"content":{"rendered":"\n

Algiers<\/strong> \u2013 The Minister of Finance, Laziz Faid<\/strong>, reiterated the government\u2019s commitment to supporting the financial market<\/strong> and enhancing its funding mechanisms to improve efficiency and attractiveness<\/strong>. Faid called on stakeholders to intensify efforts to revitalize the financial sector and facilitate access to financing<\/strong>, particularly through the stock exchange<\/strong>, in order to promote investment and economic growth<\/strong>.<\/p>\n\n\n\n

The minister\u2019s remarks were delivered during the opening of a workshop<\/strong> focused on the theme: “Dynamism and Strategy for an Effective Algerian Financial Market.”<\/strong> The event, organized by the Committee for the Organization and Supervision of Stock Market Operations (COSOB)<\/strong> and the Algerian Union of Insurance and Reinsurance Companies<\/strong>, was held in collaboration with the Algiers and Tunis stock exchanges<\/strong>. The workshop was attended by several key figures, including Yacine Walid<\/strong>, Minister of Knowledge Economy, Start-ups, and Micro-Enterprises; Ali Kadri<\/strong>, President of the Association of Banks and Financial Institutions; and CEOs of banks and insurance companies.<\/p>\n\n\n\n

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Financial Market Reform: A Government Priority<\/h3>\n\n\n\n

Minister Faid emphasized the government\u2019s full commitment<\/strong> to transforming the financial market, highlighting that diversifying the national economy<\/strong> and revitalizing the financial market are closely interconnected<\/strong>. He stressed the need for strong cooperation among all stakeholders<\/strong> and assured that the financial sector will continue implementing necessary reforms<\/strong> to facilitate access to funding, promote investments, and effectively support business growth.<\/p>\n\n\n\n

The minister acknowledged that the current contribution of the financial market to the national economy remains limited<\/strong> and that the Algiers Stock Exchange has not yet realized its full potential<\/strong>. He urged both public and private actors<\/strong> to redouble their efforts to make the financial sector more attractive<\/strong> to investors.<\/p>\n\n\n\n

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Encouraging Public and Private Companies to Enter the Stock Market<\/h3>\n\n\n\n

Faid called on public and private companies to consider listing on the stock exchange<\/strong> and to use the financial market as an alternative financing tool<\/strong>. He noted that participation in the market would enhance corporate governance<\/strong> and improve competitiveness<\/strong>.<\/p>\n\n\n\n

During his address, the finance minister outlined a strategic framework to increase financial market dynamism<\/strong>, which includes several key components:<\/p>\n\n\n\n