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Fayyad assures the investors: no direct impact for the global financial crisis on the economy and the PSE

2008-10-28

 PSE is a bridge for the return of immigrant Palestinian investment.

 The development of the securities sector is a highest priority in our economic and financial policies.

 The minister: $380 million is the financial portfolio"s value for the operating banks in Palestine.

 Al-Masri: the decline in Al-Quds index is caused by Psychological reasons and had nothing to do with the causes of the global financial crisis.

 Awaida: PADICO"s registration link to converting the PSE into corporation is unjustified  

 Dr.Salam Fayyad the prime minister assured the investors that the global financial crisis will not leave direct impacts on the economy and the PSE, urging the foreign investors especially the Palestinians in the Arab world to invest in Palestine which will contribute in Palestinian steadfastness in addition to achieve gains. Fayyad said during opening the second annual Forum of the capital market "despite the immunity of our market and economy from financial implications and consequences of the current global financial crisis, which cast a shadow on investors" confidence in the usefulness of investment in the Palestinian capital market instruments, and I would like to reassure all the investors from inside and outside Palestine that our market is stable and is not expected to be affected directly by the global crisis". Dr.Fayyad called the investors and shareholders and clients to invest in the securities sector, especially the  Arab brothers and assure them that the government considers this sector one of the top priorities sector in our economic and financial policies in addition to the plans for economic development and integration with the economies of the region and the rest of the world, and do everything in their power to its care and development, and seek for our market to be a financial bridge for Palestinian immigrant investment return, and the confluence of Arab investors with the Palestinian people. He added: I invite investors in the Arab countries, portfolios, regional funds and international funds to invest in our national economy, which provides a reasonable return on investment opportunities in spite of all the circumstances, and we are ready to do all that is required to provide a stimulating environment for them to invest safely, let them come and contribute in strengthening the steadfastness of the Palestinian people by investing in our national economy and achieve reasonable returns material, and to contribute to the creation of a Palestinian state that is capable of achieving economic and social welfare of their children". The prime minister pointed to the continued bleeding in the global capital markets and the descending in indices by unprecedented percentages and the global economy entrance into recession and deflation, in addition to pessimism of economic decision-makers and experts of the feasibility of the steps of financial interventions to alleviate this decline and stagnation, and maintaining the confidence of investors. He added: Some may see that our region is immune from the consequences of this crisis but the observer of the Arab capital market indices and the results of the sharp decline can notice the close interrelationship between regional and international economies, and for the Palestinian our market it is relieving that the level of Al-Quds index still exceeding its level of the beginning of  this year, while some of the foreign markets lost  more than half  its value so far, and that reflects the strength and integrity of the PSE financial performance".