Ramallah - Together - The Palestine Stock Exchange, represented by its Chairman of the Board of Directors, Mr. Samir Hulileh, and its General Director, Mr. Nihad Kamal, participated in the annual conference of the Arab Capital Markets Federation for this year 2024, which is considered the most distinguished event for the securities industry in the region, as it constitutes a platform during which representatives of the financial markets meet. Experts and financial service providers in one place. This year's conference sessions were hosted by the Qatar Stock Exchange (which assumed the presidency of the federation for the coming period), during the period between 04/29-30/2024, and was attended by more than 250 participants in addition to experts from financial market regulatory bodies, brokerage companies and managers. Investment funds in the Middle East and North Africa region, with the participation of more than 45 speakers across 9 discussion panels that addressed important and modern titles in various se ctors, in addition to the fact that the conference included announcing and honoring institutions operating in the Arab financial markets according to an approved methodology. It is noteworthy that this event hosts the best speakers in the world and the region to discuss the most pressing topics on the agenda of Arab and global financial markets at the present time, most notably modern trends in artificial intelligence, financial technology, digital assets, Islamic finance in the age of technology, and everything related to the principles of sustainability. Climate change, and how the ecosystem can be preserved as a societal responsibility for all parties involved as a major influence, in addition to managing risks in stock exchange systems and shortening settlement time and its impact. The Chairman of the Board of Directors of the Stock Exchange and its General Manager participated in the work of the General Assembly of the Federation in its forty-ninth session, which was held on 04/28/2024 on the sidelines of the conference, where they met with many heads of Arab stock exchanges and directors of participating financial institutions with the aim of discussing horizons and ways of cooperation. The Palestine Stock Exchange signs an agreement to join the Net Zero Financial Services Providers Alliance (NZFSPA). And its membership in the United Nations Sustainable Stock Markets Initiative (UN SSE) Commenting on this, Hulileh stressed that the participation of the Palestine Stock Exchange in an event of this kind constitutes great importance at the level of financial markets in the Arab region and the world in light of the exceptional circumstances that the local market has been going through since the events of October 7 last year and the continuation of the aggression against the Gaza Strip for more than 200 days, and in light of the great pressures the national economy is exposed to, considering that this is nothing but an affirmation and insistence on the importance of the Palestinian financial market and its p osition among the region's markets. He pointed out that the presence of the Stock Exchange today with the most important and largest financial markets in the region and those who provide competitive investment services, a modern trading environment, and a strong and global infrastructure, comes to share experiences with others and look forward to everything that is new in the world of financial markets, stressing that cooperation between all members of the union An urgent necessity for growth, prosperity and development. Hulileh added, 'The importance of this conference comes from the timing and topics it addresses, as it allowed all parties to learn about the most important developments in this sector in the Arab world and globally, in addition to building bridges of expertise in many technological and professional fields.' In a related context, the Palestine Stock Exchange, along with four Arab financial markets (the Bahrain Stock Exchange, the Muscat Stock Exchange, the Amman Stock Exchange, and the Sau di Tadawul Stock Exchange), signed an agreement to join the Net Zero Financial Services Providers Alliance 'NZFSPA' and its commitment to the United Nations Sustainable Stock Markets Initiative. UN SSE", which aims to enhance performance on environmental, social and corporate governance issues and encourage sustainable investment. In his comment on this, Hulileh stressed that these agreements have remarkably strengthened the presence of the State of Palestine and the Stock Exchange globally, especially in light of the current sensitive stage, if the popular solidarity around the world with this just cause, and the right of the Palestinian people to self-determination and building their institutions, is taken into account. Considering this an important step on this path for the stock exchange. He added, "Our joining the Net Zero Exchange Financial Services Providers Alliance, as well as the United Nations Sustainable Markets Initiative (UN SSE), truly embodies our commitment to building a financial and econo mic future characterized by sustainability and social and environmental responsibility." Hulileh pointed out that global alignment with the Sustainable Development Goals is not just a duty, but rather an opportunity to enhance economic growth in ways that meet the needs of current generations without compromising the ability of future generations to meet their needs, through clear goals and measures in accordance with best practices followed in cooperation with the partners with whom the stock exchange links. Bridges and solid conceptual frameworks, in addition to policy makers and regulators, especially the Palestinian Capital Market Authority, through which the Palestine Stock Exchange seeks to promote innovation and development in the areas of finance and build a financial system that effectively contributes to achieving the set goals and achieving the desired balance between the economy, environment and society. Source: Maan News Agency
Thursday, November 07, 2024