Highlights

Participation of the Minister of Economy and Finance in the international conference organized by the Moroccan Capital Market Authority (AMMC)

20/10/2022
Participation of the Minister of Economy and Finance in the international conference organized by the Moroccan Capital Market Authority (AMMC)

Mrs. Nadia FETTAH, Minister of Economy and Finance, participated, October 20th 2022 in the International Conference "Global Capital Markets - Expect the unexpected: a trilemma for capital markets". This event is organized by the Moroccan Capital Market Authority (AMMC) under the High Patronage of His Majesty King Mohammed VI, on the sidelines of the 47th annual meeting of the International Organization of Securities Commissions (IOSCO).

Speaking at the opening session, the Minister first praised the leadership of His Majesty King Mohammed VI, May God Assist Him, and his tireless action in favor of Africa's development.

Then, she stressed that the choice of the Moroccan Capital Market Authority to organize this event testifies to the trust enjoyed by this institution within the community of capital market regulators.

Moreover, the Minister recalled that His Majesty the King, speaking at the opening of the parliamentary session had stated that "the national banking and financial sector must support and finance the new generation of entrepreneurs and investors, including young people and small and medium enterprises".

She also said that "at a time when the old and new economy collide, the issue of youth has become, more than ever, consubstantial to any coherent and inclusive development project.

At the same time, the Minister underlined the fundamental place of market regulation in the Kingdom's concerns, and recalled the initiatives and reforms undertaken by Morocco to respond to these multiple issues and challenges, and to make the capital market a real vector of development of the economy.


These include consolidating the financial stability enjoyed by the financial system through a series of legislative and regulatory reforms; developing the performance of the capital market infrastructure; deepening the capital market and diversifying financial instruments; and aligning the capital market in particular, and the Moroccan financial sector in general, with sustainability requirements.



In addition, Mrs. Nadia FETTAH stated that the two essential questions that arise in the face of an obligation of fluidity in order not to jam the economic machine, but also an obligation of increased vigilance in the face of the risks associated with the new economy and its corollaries that are the dematerialization of exchanges and the anonymization of the protagonists are:


(i) How to allow the market to release its creative energy and fulfil its social function while protecting our countries from a major crisis? And (ii) How to regulate markets as a composite material that would be "hard and soft at the same time?

At the conclusion of her speech, the Minister indicated that the world is experiencing a "tremendous acceleration of history that has forced us to face up to the shortcomings and strengths of the new economic model that is emerging".

She stated that "globally, the lesson we can collectively draw is that the world is no longer to be dominated, it is to be shared. She added that this vision corresponds to "the Moroccan project of a sustainable and united society, carried by the Vision of His Majesty King Mohammed VI, who calls for the establishment of a partnership "of equals" with our partners.

It is worth recalling that IOSCO is the reference institution for capital markets regulators worldwide, and collaborates with the G20, the Financial Stability Board (FSB), as well as the World Bank and the International Monetary Fund, which have adopted IOSCO standards as a reference for the sector.


The AMMC is a member of the IOSCO Board of Directors, and since 2020, chairs the regional committee "Africa and Middle East", which brings together 42 representatives of capital markets in the region.