The Palestine Securities Exchange, which currently lists 39 companies from the West Bank and Gaza, aims to add four more firms next year as it works to broaden its attraction to wealthy Palestinians living abroad.
"We want to do exactly what the Israelis have done with the Jewish diaspora," Ahmad Aweidah, the exchange's chief executive, said yesterday.
"Just like the Israelis garner financial support abroad from Jews eager to help by buying Israeli bonds and investing funds in the country, we want to open up our market with the help of very influential Palestinian expatriates."
The Palestine Al Quds index is up 14 percent this year after declining 16 percent last year. The 12-year old exchange was founded by the Palestinian Authority and Palestine Development and Investment Company. Companies listed on the exchange have a combined market value of $2.5 billion (about R20bn). - Bloomberg
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