The Palestine Stock Exchange met today at the “Ayan” Hotel in Gaza City, represented by the Vice Chairman of its Board of Directors, Abdullah Sabat, and its General Manager, Nihad Kamal, with a group of Gazan businessmen, major investors and traders in the Palestinian stock market, in the presence of representatives of 15 listed companies and a group of Representatives of brokerage companies operating in Gaza.
At the beginning of the meeting, Sabat expressed his happiness at being in the Gaza Strip for a meeting of this level of importance, especially in light of the strategic directions to activate the stock exchange’s pioneering role in the sector, which aims to list new companies and expand the Gazan investor base, in addition to intensifying activities directed towards investment awareness in the sector, and emphasizing The importance of the financial market in driving economic development aimed at creating a real and effective economy.
He stressed that the diversity of attendees, including representatives of companies listed on the stock exchange and businessmen, in addition to a number of investors and interested parties, produced a set of outcomes that will be dealt with seriously to achieve a number of goals, foremost of which is the economic empowerment of different segments of society, as well as strengthening the role of Gazan companies and businessmen. In the local securities sector.
In turn, Kamal gave an extensive introductory presentation on the most important indicators and performance of the Palestine Stock Exchange, the nature of investments in it, and the essential additions they constitute that enhance the movement of the wheel of the overall national economy. He explained these indicators through accurate statistics and numbers produced by the Stock Exchange during the past ten years.
He pointed out that, over the course of 28 years since the Palestine Stock Exchange began its operations, more than 10 companies registered in the Gaza Strip have been listed, and current figures indicate that the number of Gazan shareholders in the Palestine Stock Exchange is approximately 10,000 shareholders with active accounts, at a rate of approximately 16% of the total. Investors in the market and the value of the securities owned by them is approximately $450 million.
Kamal noted that these percentages are considered very small compared to the weight of the Gaza Strip and its great economic importance and high population density, adding that the Palestine Stock Exchange, as part of its new strategies, seeks to develop services and tools that are in line with the aspirations of current and potential investors, and to list more companies, which in turn will increase the size of The investment options are before them.
The meeting included a brief presentation by some representatives of listed companies, and an extensive discussion about the most important ways to activate the investment process in the Palestine Stock Exchange, including current and potential Gaza Strip investors, and an emphasis on the need to intensify communication meetings and enhance access to services for Gaza Strip investors.
It is noteworthy that this meeting coincides with the visit of a high-level delegation of businesswomen and businessmen from the West Bank to the Gaza Strip, at the initiative of the Chairman of the Board of Directors of PADICO, Bashar Masri, with the aim of strengthening the bonds of cooperation between the institutions of one nation and learning about the most important investment opportunities in the sector
Source: Maan News Agency