Tunis Stock Exchange Organizes the 1st Edition of its Assizes

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Tunis Stock Exchange Organizes the 1st Edition of its Assizes

On the occasion of the celebration of the 50th anniversary of its creation, the Tunis Stock Exchange organized, with the support of the Konrad Adenauer Stiftung Foundation, the 1st edition of the Assizes of the Tunis Stock Exchange, opened by Mr. Ridha Chalghoum, Minister of Finance, and closed by Mr. Youssef Chahed, Chief of Government.

Note the presence of Her Excellency Louise de Sousa, Ambassador of the United Kingdom in Tunisia, who reaffirmed on this occasion the commitment of his country to support the development and contribution of the Tunisian financial market in the financing of SMEs.

The main theme of this conference was the attractiveness of the financial market and the market financing of the SME and the economy in general. The interventions of panelists – specialists and market practitioners – have enriched the reflection and debate on the findings and the measures required to revive the financial market. These debates echoed the Opening Address of the Minister of Finance who presented a pragmatic and optimistic view of the financial market, which has undergone reforms, incentives and skills that have propelled it forward but which remain to be consolidated, and who announced that the recommendations of the Assizes will be taken into account and examined at the highest governmental level.

This meeting, to which the former leaders of the various financial market institutions were invited and honored, offered the opportunity to the El Amouri Institute to present a summary of the results of a Financial Market Perception Study, conducted as part of the support provided by the Konrad Adenauer Stiftung Foundation to the Tunis Stock Exchange to help it better meet the expectations of its targets, both in terms of communication and operations. It should be noted that the main thrusts of this study should be taken into account in the project to overhaul the regulatory framework and supervision of the financial market, led by the Ministry of Finance with the support of the EBRD.

At the end of the discussions, the CEO of the Stock Exchange, outlined the recent achievements of the Tunis Stock Exchange, including:

  • ISO 27001 certification of its information system
  • Full member of the International Federation of Stock Exchanges (WFE)
  • Adoption of a CSR approach following the accession to the United Nations SSE initiative
Finally, he restated the recommendations of the panelists as follows:
  1. Facilitating access of SMEs to market financing,
  2. Revision of the legal framework of the financial market in order to bring it into line with international standards,
  3. Strengthening the collection of savings through the financial market,
  4. Supporting the efforts of the Stock Exchange for the dissemination of stock market culture
  5. Strengthening the Official List by the listing of large caps.
The Chief of Government closed the event by returning to the origins of the Stock Exchange in Tunisia, thanking and congratulating the precursors and all those who have succeeded and helped to bring the Tunisian financial market to the level of the best international standards.

The Chief of Government announced the start of the Investia-PME project, initiated by the Tunis Stock Exchange with the support of the British Cooperation Agency (FCO), which aims to facilitate the non-bank financing of 120 SMEs to through IPO, bond issue or venture capital.
He confirmed on this occasion the support of the State to the project supported by the EBRD overhauling the regulatory framework and supervision of the Tunisian financial market to align it with international best practices. He announced measures to increase the attractiveness of the financial market and strengthen the collection of savings for the financing of the economy.

The Chief of Government finally encouraged the use of financial market instruments and mechanisms for the financing of public enterprises and local authorities, and called the Ministries in charge of Education and Higher Education, as well as the public media to support the efforts of the Tunis Stock Exchange for the dissemination of the stock market culture.
 
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