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Will be presented to council of ministers for approval: The CMA completes the preparation of financial leasing law

2008-10-30

The Capital Market Authority assured completing the preparation and discussion of financial leasing law, and it will be presented to the council of ministers soon for approval in order to start implementing next November. This came during the conference of financial leasing sector development in Palestine that the CMA convened with the cooperation of the international financing institute and the participation of the PMA, banks, finance ministry, financial leasing companies and the financial sector development program in USAID and had been convened in Best Eastern Hotel in Albeirh. Mr.Maher Almasri the chairman of the CMA pointed out that the authority with the cooperation of the international financing institute had completed the draft of this law, and it is expected to be approved in the beginning of next November, intensifying on the necessity of providing the legislative and legal environment, especially that the financial leasing plays a big role in developing the capital market and represents %25-%35 from capital investment in the advanced countries.