Casablanca bourse announces commission-free listing
The Casablanca stock market announced that all listings will be free of commission fees for enterprises during 2000 and 2001.
The bourse's president, Rachid Ouali Alami, told the economic daily "L'Economiste" the decision was made during the bourse's latest governing board meeting to end accusations that Morocco's financial market is one of the most expensive in the world.
He said that while the stock market is taking measures to attract enterprises, the finance ministry should also make efforts by enforcing fiscal incentives.
Last week, Morocco announced plans to create a $10 million capital-development fund to help industrial enterprises be listed on the stock market.
A study by the trade, industry and handicraft department found out that 42% of a sample of firms have plans on the mid-term to be listed on the stock market but need between one to five years to restructure and modernize their production tools.
The study recommended new finance and support tools, the lowering of stock market listing fees and capital ceiling and the easing of listing requirements.
