Commenting on this, CEO of PEX Ahmad Aweidah stressed that this upgrade was expected in light of the recent review conducted by FTSE in September of last year, 2015. PEX has won this status as a result of its effort to comply with international standards. This is a new milestone for PEX and a step towards positioning Palestine on the global investment map.
Mr. Aweidah pointed that the exchange operates within a solid regulatory environment, uses best of breed technology and complies with financial markets best practice. He expressed his confidence that the new status within FTSE indices will enhance PEX competitive position among regional markets, giving it greater momentum and a wider spread globally.
As for the companies listed on the Palestine Stock Exchange and their inclusion in FTSE indices, Mr. Aweidah said that the new status of PEX will open the way for listed companies to go through that particular stage in the future.
It is worth mentioning that PEX was on FTSE indices “Watch list” since September 2014.