Ramallah, October 13, 2024. The Capital Market Authority, in partnership with the Palestine Stock Exchange, participated in the “Global Investor Week 2024” events at the beginning of October under the theme “Technology, Digital Finance, Cryptocurrencies, and Sustainable Finance”. This marks the seventh edition held in Palestine, in line with the annual initiative launched by the International Organization of Securities Commissions (IOSCO) in collaboration with the World Federation of Exchanges (WFE), involving numerous securities regulators and exchanges from over 120 countries worldwide. The participation of the Capital Market Authority and the Palestine Stock Exchange this year is in line with the exceptional circumstances following a year of Israeli aggression and its repercussions. The participation was limited to a series of awareness meetings at three Palestinian universities (An-Najah National University, Al-Istiqlal University, and Palestine Technical University-Khadori). Additionally, activities were activated on social media platforms, focusing on several key topics, including sustainability, technology and digital finance, and cryptocurrencies. The Director General of the Public Securities Administration at the Capital Market Authority, Mr. Murad Jadbah, emphasized that the authority places significant importance on financial literacy to cultivate a generation capable of engaging with non-banking financial policies and services in Palestine, especially in light of the ongoing developments in this sector. He added that the authority takes pride in its membership in IOSCO, as it addresses compelling and important topics each year that focus on the most critical issues related to the securities sector and investment awareness. Jadbah explained that the university meetings with students and academics highlighted several topics related to the event, including the launch of an innovation platform and the adoption of a framework for applying financial technology. He also discussed the significant progress made in organizing forex activities and trading in foreign currencies, as well as the importance of exercising caution when dealing with virtual assets. In his statement regarding the participation, the Director General of the Palestine Stock Exchange, Mr. Nihad Kamal, affirmed the stock exchange’s ongoing commitment to fostering collaboration with both local and international institutions in order to strengthen investment awareness initiatives and promote financial literacy. He highlighted that the stock exchange’s involvement in this event falls within the framework of its participation in the “Ring the Bell for Financial Literacy” initiative, organized by the World Federation of Exchanges, in coordination with the Global Investor Week launched by IOSCO. The stock exchange remains dedicated to actively participating in and closely following the various initiatives in which the Capital Market Authority is involved. Mr. Kamal further remarked that Palestine’s representation through the Authority and the Stock Exchange underscores national aspirations to position the Palestinian securities sector on the global investment stage. He also highlighted the importance of the topic of sustainability, which the stock exchange addressed in its discussions with students, emphasizing the need to draw their attention to the most pressing issues on the global economic stage. The Palestinian securities sector aims to enhance its performance in environmental, social, and corporate governance (ESG) issues and promote sustainable investment to build a better future for the coming generations. It is important to note that the International Organization of Securities Commissions (IOSCO) represents the foremost global authority in the regulation and supervision of financial markets. IOSCO is responsible for establishing international and technical standards that member regulatory bodies are required to adhere to. Furthermore, it is of particular significance that the State of Palestine has held full membership in IOSCO, through the Capital Market Authority, since 2014.
