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The Capital Market Authority holds a Consultative Meeting

2007-08-28

The Capital Market Authority holds a Consultative Meeting:

Concerning requirements on revitalizing the financial market

The Palestinian Capital Market Authority held a consultative meeting in addition to the annexation of the PSE, listed companies and brokerage firms. The meeting will be held on Wednesday 15/08/2007 at the Grand Park Hotel in Ramallah in order to consult on the status and conditions of the financial market in Palestine and refresher requirements and mechanisms attracting investors. speaking at the meeting, Chairman of the board, Mr. Maher Masri, Director General d. Atef Alawneh, Chairman of the Board and Executive Chairman of the Financial Market d. Hassan Abu Libdeh, the representative of brokerage companies, Mr. Tariq Shaka"a. As he d. Alawneh meeting and the discussion that followed interventions speakers. Egypt has confirmed the version consultative partnership to meet, which is consistent with the policy of the Permanent Judge in consultation with all relevant parties, whether in matters relating to issuing regulations, instructions and / or procedures and policy on the daily work of the sectors supervised by the body. It also pointed to the tireless efforts of the body to overcome the difficulties experienced by the financial market, namely in taxes on transactions, and double taxation and capital gains tax, in addition to enable the company to purchase shares and the need to provide liquidity in the financial market. It was unveiled by the Communications Authority with both the Prime Minister and Governor of the Palestinian Monetary Authority to address these facts. Meanwhile, he said. Hassan Abu Libdeh to understandings positive obtained with the Palestinian Monetary Authority in the last few days and that would support liquidity in the financial market and the most important Palestinian funding arrangements on the sidelines, allowing banks traded equity and the imposition of mechanisms for encouraging the transfer of funds to and from the financial market and other encouraging measures expected to declare the Monetary Authority in the near future also pointed to the understanding reached with the government regarding the amendments to the laws on taxation and acquisitions of shares and corporate law. It also asked representatives of the private sector companies listed and brokerage companies to the role demanded of it and not simply the process of disclosure, while important, but orientation and convince investors the feasibility of investment in the Palestinian economy, stressing that everyone in the same boat and should not count on their body and / or market only . Mr. Tariq Shakah representative of brokerage companies emphasized to all the points raised by earlier speakers pointed out the difficulty experienced by the market since the period, stressing that the revitalization of the market requires activating the role of banks and investment funds and foreign investments in the Palestinian financial market, saying that any action does not help in this revitalization will remain without required, in the sense that the revitalization of the market requires a focus on three aspects mentioned, through the enactment of laws, regulations and instructions that encourage them to invest in Palestine and the financial market. Following interventions and debates showed broad and deep awareness of Palestinian businessmen size event, which is suffering from market interventions also touched many important directions that would overcome the difficult situation suffered by the market and attendees agreed to form a committee of the body, the market and brokerage companies to follow up the implementation of the recommendations of the meeting, which appear through a joint record.

 

 

 

 


 

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