Visit of CEO of Palestine Exchange

26 Mar 2012 َQBA Office

QBA Members attended

The Qatari Businessmen Association organized a meeting with Mr. Ahmed Aweidah, CEO of the Palestine Stock Exchange, and the accompanying delegation at QBA’s offices on Monday, March 26th.

The meeting was attended by distinguished QBA members, Mr. Salah Al Jaidah, Mr. Nabil Abu Issa, in addition to Mrs. Sarah Abdallah, Deputy General Manager of QBA, Mr. Abdul Salam Abu Issa, board member of Salam International, Dr. Adnan Staitieh, Executive Director of Salam International, Mr. Andrew Went, CEO of Qatar Exchange, and representatives from the banking sector, Qatar National Bank, Commercial Bank, and Al Ahli Bank.

Mr. Ahmed Aweidah thanked the association and the audience for the warm welcome, and spoke about the Palestine Exchange (PEX), that strives to provide trading market characterized by equity, transparency, and competence, serving and maintaining the interest of investors. Moreover, PEX seeks to be a model for the Arab and regional financial markets through service excellence, and the ability to create ideal and attractive investment opportunities, commitment to the rules of corporate governance, and weaving constructive relations with the Arab, regional and global markets, along with the use of the latest technology, which is portrayed through the volume of online trade that constitutes 20% of the total trade

The number of companies listed on Palestine Exchange has reached 46 companies, with a market capitalization of about $ 2.8 billion, spread over five sectors: banking and financial services, insurance, investment, industry, and services. The Palestine Exchange aims to include new companies, provide new diversified services and financial instruments, and create a professional work environment in the stock market by focusing on the development of human resources, and adopting the latest technological developments in financial markets.

On the other side, the Qatari Businessmen Association welcomed Mr. Ahmed Aweidah and the accompanying delegation, and praised the success of Palestine Exchange in providing a favorable and secure trading environment in light of the political situation in Palestine. In addition, Qatari businessmen expressed their willingness to cooperate with Palestinian businessmen in order to overcome the economic crisis and rebuild the Palestinian economy.

It is worth mentioning that the Palestinian economy is based on the services sector, which constitutes 81% of the GDP, while the industrial sector comprises 14% of the GDP and agriculture 5%. In this context, Qatar Charity has launched agricultural projects exceeding $ 12 million, to provide sustainable food security in Palestine, in 2011. These projects will be carried out through five years, and include the planting of fruit trees and land reclamation. It is part of Qatar Charity long term strategy that aims to enhance food security in Palestine, and to support efforts to eradicate poverty.