Know More About Palestine

Sunday May 30, 2010 8:25 AM (EST+7)
Palestinians seek to attract Arab-Israeli investors

Read more: stock market, stock exchange, investments, economy, finances

RAMALLAH, May 30 (JMCC) - Efforts are underway to lure investors away from Israeli markets to the Palestinian stock market, a Palestinian financial official said Saturday.

The move seeks to expand the Palestinian market and make it more attractive regionally and internationally, said Palestinian stock market executive director Ahmed Awayda.

We had a meeting today in Ramallah with a number of Palestinian businessmen carrying blue [Israeli] identity cards to persuade them to pump money into the stock market at a tune of more than $10 billion, which is what they are currently investing in Israel, said Awayda.

He said that this would be a quantum leap for the Palestinian stock exchange and help raise proceeds for all investors.

It is estimated that the one and a half million Palestinian citizens of Israel have investments worth ten billion dollars in the Israeli stock exchange.

This is a lot of money, says Awayda. If it were invested in the Palestinian market, there would be considerable returns to investors and Palestinians in the West Bank and Gaza Strip.

The Palestinian stock market was established in 2004 and enjoys financial and administrative independence. Currently, one and a half billion dollars is invested in the market, 55% of this originating with foreign investments and the rest domestic.

Awayda says that the market is currently seeking to attract new regional investments despite all the obstacles. One means of expanding participation in the market is for investors to register in the Palestinian exchange companies that operate in Israel but are owned by Palestinians and have their headquarters in the city of Ramallah, says Awayda.

We will continue dialogue between us and our brothers who are investors in Israel, and internationally to achieve the strategic partnership that will lead to raising the value of the Palestinian market, says Awayda.







Al-Madaris St. (same building as
MBC and al-Arabiya studios)
First Floor, Al-Bireh
PO Box 4045, Ramallah
PO Box 25047, Jerusalem 97300
Phone: ++972-2-297-6555
Fax: ++972-2-297-6555
Log in to My JMCC
 or Sign Up
Forgot your password?Close
Front Page
My Comments Photo of the Day
Calendar Hot Spot(for journalists)
Audio of the Day Video of the Day
Most Popular Historical Timeline
Noticeboard Blogs
My Tags Help Desk
User Info
First Name
Last Name
My Tags 
I am a
After signing up,you will receive
an automatically
generated password in your
Recover Password
Submit Your Email
 or Sign Up