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Morocco's Financial Market |
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The Moroccan financial market has witnessed a considerable evolution during the last years, due mainly to the privatization program. The turnover went up from 672 million DH in 1989 to 23.9 billion Dh in 1995. Meanwhile, the stock market capitalization progressed from 5 billion Dh in 1989 to 39.0 billion Dh in 1995. During the same period, the average turnover for each session went up 167 folds, from a daily 0.5 million to 82.6 million. The improvement of these indicators was even consolidated since privatization was made through the stock market. Under the law adopted in 1993, the Casablanca stock market status changed from a public institution to a private one whose capital is equally shared by the stock market firms. In parallel, the creation of the Deontologic Council of Stocks and Bonds (Conseil Déontologique des Valeurs Mobilières) helped in the smooth running of thee market and ensured the protection of savers. In 1995, reforms were carried on with the setting forth of the new implement regulating the Stock Market activity. |
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