Commission for the Regulation and Supervision of Stock Exchange Operations (COSOB)
Part of the meeting
Algeria and Saudi Arabia discussed ways to develop financial markets and enhance innovation and financial services, during two meetings that brought together actors in the Algerian financial market and representatives of the Saudi Financial Market Authority, within the framework of the work of the Trade and Economy Committee emanating from the Algerian-Saudi Supreme Coordination Council.
And it was held The two meetings At the headquarters of the Committee for Regulating and Oversight of Stock Exchange Operations (COSOB), and via video lecture technology, it constituted an opportunity to exchange expertise and experiences in a number of areas related to the development of financial markets.
The first meeting was devoted to financial technology and equity financing, in the presence of the executives of the Committee for Regulating and Monitoring Stock Exchange Operations and the General Director of the Algeria Financial Technology Laboratory (ALGERIA FINLAB).
During the meeting, the experience of the Algerian Financial Technology Laboratory (Finlab) was reviewed, in parallel with the presentation of a number of Saudi experiences and initiatives in the field of financial technology, with the participation of representatives of the Saudi Capital Market Authority and the Saudi Financial Technology Laboratory (XLAB).
The meeting also discussed the issue of co-operative financing, where the Stock Exchange Operations Regulatory and Monitoring Committee gave a presentation on the system for this type of financing, followed by an exchange of views and experiences on ways to develop innovation and financial services.
As for the second meeting, it was represented in a workshop devoted to developing the sukuk market, and supervised by the Saudi Financial Market Authority, with the participation of the frameworks of the Committee for Regulating and Monitoring Stock Exchange Operations, and representatives of the company managing the transferable securities exchange, the Algerian Stock Exchange, and the central custodian of bonds, the Algeria Settlement Company, along with a number of brokers and sponsors on the stock exchange.
The workshop addressed the legal and regulatory frameworks associated with issuing and investing in sukuks, as well as the mechanisms for supervising and controlling them, while reviewing the Saudi experience in this field and the methodologies adopted to develop the sukuk market.
