From the Wires
The Palestine Exchange (PEX) Announces Final Recommendations From the 6th Annual Palestinian Capital Market Forum
By: PR Newswire
Dec. 17, 2012 11:46 AM
RAMALLAH, Palestine, December 17, 2012 /PRNewswire/ --
Palestinian brokerage companies are encouraged to build ties with regional and international brokerage companies to widen investor circles
The Palestine Exchange announced recommendations of its 6th Annual Palestinian Market Forum which was recently held in Ramallah, Palestine. Discussions focused on present challenges and future prospects of the Brokerage Industry in Palestine especially after Palestine gained an upgrade in the United Nations to a non member State.
Participants encouraged local brokerage companies to merge and pool their resources in order to develop stronger entities that are able to offer better services and attract investments into Palestine. Expert panels in the forum called upon brokerage companies to expand their presence in different Palestinians cities, especially those firms owned by Banks in order to spread their service footprint via the branches of these banks.
The Forum prodded brokerage companies to further develop their governance structures in order to enhance their transparency and accountability practices. Brokerage firms were also encouraged to develop their employee's efficiency and augment their activities by building up new departments for research, financial analysis, and financial advisory services while also developing their electronic services. The Forum also debated the importance of brokerage companies developing their marketing abilities and increasing their promotional efforts on behalf of the securities sector. The Forum encouraged brokerage companies to build more relations with international and regional brokerage entities in an effort to widen their operations and investor links.
The Forum also issued several recommendations that focused on the securities sector in general calling for further developing the eco system for investments in Palestine. Recommendations included the need for more engagement with regulators to positively contribute to the legal infrastructure pertaining to financing, setting up of investment funds, and the launching of new financial tools like bonds and ETFs.
The issue of the negative perception of Palestine and the image of the country was a focal point in the discussion. The closing panel issued a call to action to local business leaders to work towards diminishing such lingering perceptions via more factual awareness campaigns on the reality of investments in Palestine. The Private sector was encouraged to embark on a sustained international and regional branding campaign to address such negative perceptions about the investment climate in Palestine on the international and regional stage. The Panel also urged for regulation to mandate international companies working in Palestine, especially banks, to incorporate themselves as local companies and to list on the Palestine Exchange.
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