Antoine Sallé de Chou, Director of the European Bank for Reconstruction and Development (EBRD) in Morocco, stated today, Thursday in Rabat, that Morocco is considered one of the leading financial markets on the African continent and in the Middle East and North Africa (MENA) region.
In a speech during the opening of a seminar organized by the EBRD in collaboration with the Ministry of Economy and Finance, under the theme “Derivatives Market: International Trends and Development Prospects in Morocco,” Mr. Sallé de Chou emphasized that the Moroccan financial system is characterized by a dynamic and growing stock market, a diverse investor base, and a relatively liquid debt market.
In this context, he highlighted the importance of the derivatives market as a lever to create momentum in the Moroccan financial market and bring it to optimal international standards. He added that these products enable investors to manage market risks, especially those related to interest rates and exchange rates, rationalize their investment decisions, and minimize associated risks.
Mr. Sallé de Chou explained that this market also allows banks to manage risks and the treasury to support the development of the state debt market. He recalled that the development of capital markets is a priority for the EBRD in Morocco and all the countries in which it operates.
Audy Bakat, Head of Portfolio Management at the EBRD, in turn, emphasized the crucial role of derivatives in the development of the financial sector and capital markets.
She pointed out that these products simplify the independent management of market risks, reducing the risk of contagion in the event of crises. They also separate asset and liability management decisions.
She stressed that derivatives are also characterized by their flexibility and easy execution, as well as limited counterparty risks compared to the use of “cash” instruments. They facilitate price improvement and liquidity when flexibility-netting is legitimately applicable in the event of solvency.
This seminar, which includes national and international experts and professionals, along with key stakeholders and actors in the financial field, aims to explore and discuss the role of derivatives in the development of financial markets and the economy in general.
It also provides an opportunity to assess international experiences in this area and discuss the next steps for the development of the derivatives market in Morocco.
Maroc24
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