Algerian Radio
The President of the Stock Market Organization and Surveillance Commission (COSOB), Youcef Bouzenada, received yesterday, Tuesday, in Algiers, the Resident Representative of the World Bank (WB) Group in Algeria, Ms. Cemile Hacıbeyoğlu Ceren, with whom he examined prospects for strengthening bilateral cooperation, a commission statement indicated.
This meeting, held at COSOB headquarters in the presence of Mr. Moaz Miaaoui, Governance Lead for Africa, and senior commission officials, was dedicated to "examining prospects for strengthening cooperation between COSOB, in its capacity as the regulatory and supervisory authority for the financial market in Algeria, and the World Bank Group, particularly in the areas of financial market modernization and the development of alternative financing mechanisms."
On this occasion, Mr. Bouzenada presented a detailed overview of the main regulatory reforms undertaken since 2023 aimed at modernizing the financial market, which have contributed to "a notable improvement in its activity compared to previous years," the statement added.
Mr. Bouzenada also mentioned new regulatory frameworks as well as incentive measures for startups to facilitate their access to the stock exchange, notably through the exemption of listing fees and the simplification of procedures.
For her part, Ms. Hacıbeyoğlu Ceren presented the main international initiatives led by the World Bank Group regarding financial market development and the improvement of corporate governance, the statement specified.
Furthermore, she expressed the group's interest in the Algerian financial market, praising the progress made and reaffirming the institution's readiness to support market development efforts and strengthen cooperation prospects.
