EBRD: Morocco, one of the main financial markets in Africa and the MENA region

Hibapress

Morocco is one of the main financial markets on the African continent and the Middle East and North Africa (MENA) region, said Thursday in Rabat the director of the European Bank for Reconstruction and Development (EBRD). for Morocco, Antoine Sallé de Chou.

Speaking at the opening of a seminar organized jointly by the EBRD and the Ministry of Economy and Finance, under the theme “Derivatives market: international trends and development prospects in Morocco”, Mr. Sallé de Chou highlighted that the Moroccan financial ecosystem is distinguished by a dynamic and growing stock market, a diversified investor base, as well as a relatively liquid debt market.

In this sense, he highlighted the importance of the derivatives market as a lever to revitalize the Moroccan financial market and raise it to the best international standards, specifying that these products allow investors to manage market risks, particularly those linked to interest rates and exchange rates, to optimize their investment decisions and reduce the associated risks.

This market also allows banks to manage risks and the Treasury to support the development of the sovereign debt market, explained Mr. Sallé de Chou, recalling, in this regard, that the development of capital markets constitutes a priority for the EBRD in Morocco and in all its countries of operations.

For her part, Aude Pacatte, head of portfolio management at the EBRD, highlighted the crucial role of derivatives in the development of the financial sector and capital markets.

These products, she noted, facilitate the management of market risks in an autonomous manner, which makes it possible to reduce the risk of contagion in the event of crises, and to dissociate asset and liability management decisions.

And to maintain that derivative products are also characterized by their flexibility and ease of execution, as well as by a limited counterparty risk compared to the use of “cash” instruments. They also facilitate the improvement of prices and liquidity when resilience-compensation in the event of insolvency becomes legally applicable.

Bringing together national and international experts and professionals, as well as key stakeholders and players in the financial field, this seminar aims to explore and examine the role of derivatives in the development of financial markets and the economy more generally. It also offers the opportunity to present international experiences in this area and to discuss the next steps to follow for the development of the derivatives market in Morocco.