Ben Mahoub: Increased volume of trading in the Algiers Stock Exchange – Al-Hiwar Al-Jazaeryia

The Director General of the Algiers Stock Exchange, Yazid Ben Mahoub, announced today, Wednesday, an increase in the volume of trading on the stock exchange, stressing that the bet for the next stage is based on achieving financial inclusion.
Ben Mahoub noted on the national radio that the management of the Algiers Stock Exchange has started activating several new financing mechanisms, especially investment funds, and opening the market to emerging institutions, especially with the desire of public authorities to create a network between small and large enterprises.
In contrast to his stressing that the stock exchange, which was established in 1997, is a different financial tool, and aspires to be positioned as an open market for companies and investors, Ben Mahoub pointed out that the goal remains to make the Algiers Stock Exchange a digital stock exchange by activating a new information system that guarantees the sale of bonds directly via mobile phones and computers. Computer.
He referred the director of the Algiers Stock Exchange to his interests to form market dealers and create an ecosystem for the stock exchange, praising the achievements of the public authorities in terms of approving tax reforms for the stock exchange by exempting profits from tax.
Ben Mahoub focused on: “The Stock Exchange is owned by banks, institutions and the general public, and it is complementary to classical financing, and it is concerned with relieving pressure on the banking system through the roles of investment funds that enable companies with new governance that qualifies them to enter the transaction market.
In addition, Ben Mahoub instructed that the principle of the stock exchange is based on opening the capital of companies, pointing out that there are cultural obstacles that prevent family companies from opening their capital, and he was keen to reassure dealers by saying that the goal lies in making the stock exchange a tool to enable companies to grow rapidly.
And he continued, “It has become necessary to create opportunities for startups to enter the stock market, so we bet on opening a market that introduces companies globally,” reiterating recalling the state’s placement of 58 activated state funds to serve incubators, and to accelerate the transition from a rentier economy to a productive economy.
Ben Mahoub explained that there is a simplification of the conditions for listing startups and helping them to obtain financing from the stock exchange, explaining: “The conditions require that the company be with shares; And that allows the development of any company.”
Ben Mahoub appreciated the entry into the era of Islamic banking in Algeria, its third year; Referring to what Algeria is witnessing in terms of Islamic banking and Islamic insurance transactions, however, he envisioned the need to open other projects, continuing: “The sukuk project has become imposed, which are bonds, and we are waiting for an amendment to the trade law; In a way that guarantees a quantum leap and modernization of the stock exchange in Algeria.”
The director of the Stock Exchange noted that the funds traded outside the regular market are still a major obstacle, estimating that work on digitizing financial transactions will allow attracting these funds and achieving the goal of financial inclusion, thus reviving the Stock Exchange and the economy.
Ben Mahoub concluded that the stock exchange requires transparency in transactions and financial disclosure, which is a procedure stipulated in the commercial law, and despite the absence of a stock exchange culture, the volume of its exchanges – according to Ben Mahoub – increased by 244 percent in 2022 compared to 2021, and this is thanks to the growth of the bond market, although As far as he asserted, at a time when the stock exchange registered subscription requests, which will be crowned with the accession of two startup companies in the first semester of 2023.

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