What is the current state of economic relations with the Gulf countries?
Gulf countries are major partners in terms of investment. There are numerous projects under way, particularly in renewable energies and road, port and railway infrastructure, including the TGV (high speed train) and tourism. Moreover, a recently proposed law would provide for the creation of sukuks, which should lead to a greater inflow of investments from the region.
What is your outlook on the potential and development of Islamic finance in Morocco?
There already are shares traded on the Casablanca Stock Exchange that meet Islamic finance criteria, for instance agrofood companies and telecoms companies.
What international partnership agreements have you established?
We have a technical cooperation agreement with the Tunis Stock Exchange concerning technology, market promotion and development issues. We expect to reach a similar agreement with the BRVM in Abidjan as well as the Central African Stock Exchange (BVMAC), based in Libreville. We have also signed an agreement with the Istanbul Stock Exchange to establish better SME trading practices. Lastly, we have an information exchange partnership with Oman, which we intend to develop and enrich in 2013.
What is your ambition for Casablanca in 2020?
Our ambition is to become an attractive regional hub and an efficient economic driver within Morocco. A legitimate ambition based on the development of the product offering, enhanced knowledge of the market at the national level through financial education and at the international level through a major promotion strategy, and a technological development effort allowing the Casablanca Stock Exchange to become « a top-of-the-range system ». In addition, the enactment of a package of legislation to develop the market is under way, aimed at broadening the Casablanca Stock Exchange’s offering and turning it into a market with international scope.