The first of the Algerian sovereign instruments is aimed at financeing major projects

Algeria is preparing to issue the first sovereign instruments in the country’s history as soon as possible, and targets the mobilization of financial resources to finance important projects and infrastructure projects in the context of government’s efforts to provide alternative financing instruments, according to Yazid Ben Mohoub, director of the Algeria Stock Exchange. In an interview with “Al -Sharq”, he pointed out that the issue of sovereign instruments since 2020 is keeping up with the expansion of Islamic finance in the local market, pointing out that this sukuk opens the way for Islamic banks and branches insurance companies to employ and invest the money they get and invest. Bin Mohoub said the stock exchange focuses on supporting startups that are experiencing financing challenges and difficulties in obtaining bank financing, by developing financial instruments that correspond to these economic reality and sustainable financing requirements.