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FEDERATION OF EURO-ASIAN STOCK EXCHANGES SEMI ANNUAL REPORT OCTOBER 2008PALESTINE SECURITIES EXCHANGEThe year 2007 witnessed prominentpresence of the PSE on many levels.Dr. Hasan Abu-LibdehChairmanThe Palestine Securities Exchange (PSE)celebrated the 10th Anniversary of the FirstTrading Session that took place on 18 February1997. On that significant date, the first stockexchange for trading securities was establishedin Palestine.For a whole decade, the PSE has proven to beup to the challenges resisting an unsmootheconomic and political reality with a high levelof commitment to its goals and to thedevelopment of an enabling investmentenvironment.In spite that the value of traded stocksdecreased during 2007–consequently the valueof trading is dropped down–due to the politicalsituation, trading activity is considered to bebetter than the year 2006 in terms of theamount of stocks traded and number oftransactions executed.The year 2007 witnessed the prominentpresence of the PSE on many levels.The PSE was able to enhance its role locally byreinforcing principles of transparency,investment culture and good governance. ThePSE convened the “First Annual PalestinianCapital Market Forum” in September 2007which gained everyone's recognition for its highlevel of organization, the high quality ofpresented papers and vast participation. TheForum was under the auspices of hisExcellency, the President Mahmoud Abbas andthe presence of the Palestinian Prime MinisterSalam Fayyad.In 2007, the PSE issued the "Companies Guide"for the first time in its history. It has alsolaunched the e-trading service where it was thefourth Arab exchange to do this. Moreover, thePSE produced a documentary film in Arabicand English to attract foreign investments andthe production of the film was completed duringa road-show project in Dubai.The PSE is very proud of its listed companiesachieving 100% disclosure in the year 2007.Disclosure represents the most important pillarof the stock exchange and one of the importantconditions of fair trading.The year 2007 also witnessed distinctivedevelopments in terms of the InvestorEducation Program, networking withstakeholders, and active participation in theactivity of companies' governance in Palestine.The PSE also supported the Palestiniancommunity in the year 2007 by supporting theeducation sector.Today we see a locally, regionally andinternationally recognized institution thatcompetes with many other stock exchangeswith more conducive working environments.Our common values will always be goodgovernance, transparency, efficiency, fairness &equal opportunities. We ask the almighty Godto help us in providing a suitable and betterinvestment future for Palestine.FUTURE OUTLOOKThe PSE is currently preparing its five-year planas it ushers into its second decade, settingforth strategic goals to provide an environmentof equitable trading, increase investmentopportunities, and prospects for listedcompanies. It will diversify its financialinstruments and focus on the development ofhuman resources and administrative upgrading.It will additionally dedicate more effort toimprovement of the legal environment, workingmechanisms, disclosure, transparency, listingand keeping up with the latest developmentstogether with investment awareness,communication and an electronic tradingenvironment.CONTACT INFORMATIONContact Name Ahmad AweidahE-mail ahmad.aweidah@p-s-e.comWebsite www.p-s-e.comPAGE 74