Focus on investment opportunites in Palestine
Abu Dhabi, December 12, 2011
The investment opportunities available in Palestine and the dynamic nature of its economy were highlighted at an event in Abu Dhabi recently.
Rasmala Investment Bank (Rasmala), along with the Palestinian Business Council and Al Arabi investment Group (AB Invest – Palestine) organised the high profile event and seminar on the ‘The Dynamism of the Palestinian Economy’.
The event, held at the Jumeirah Etihad Towers in Abu Dhabi, was attended by high ranking officials and notable figures from the local business community. Dr Jihad Al Wazir, governor of the Palestine Monetary Authority, gave a keynote speech.
Award-winning Rasmala, with one of the largest asset management teams in the region and a proven track record in investment banking, is keen on bringing the ample opportunities available in Palestine to international light, said a statement.
This comes in the form of the recently launched Rasmala Palestine Equity Fund, which is the first Special Investment Fund regulated by the Commission de Surveillance du Secteur Financier (CSSF) in Luxemburg, dedicated to investing in stocks listed on the PEX, it said.
“Rasmala continues to seek out unique and compelling investment opportunities in the Mena region for our clients. We will dedicate the same level of resources and commitment to the Rasmala Palestine Equity Fund as we have to our other award-winning Funds: The Arabian Markets Growth Equity Fund and the Rasmala GCC Fixed Income Fund. Through this investment fund, we will be able to support Palestinian companies’ funding requirements as these companies grow and mature along with the Palestine economy.” said Eric Swats, head of asset management, explaining the reasoning and strategy behind the interest in investing in the Palestinian market.
Dr Al Wazir said: “Misconceptions about the potential of the Palestinian economy, and in turn the viability of investment opportunities in the region, is the motivation behind this much needed conversation. The untapped potential in Palestine represents a host of investment opportunities in an emerging market where risks are factored in and low valuations offer high dividend yields, offering a winning combination for a lucrative business opportunity.”
Mazen Abu Hamdan, AB Invest – Palestine chairman, said: “In a bid to contribute to investments in the region, we have joined the dialogue to increase awareness around the abundant prospects found in Palestine, expressly in the Palestine Exchange. We continue to relay the values of credibility, security, transparency, and above all, trust.”
Anwar Abu Sbaitan, chief executive officer of Rasmala, said: “We are very proud to be taking the lead in discussing this promising market. Bringing forth these issues and placing them on the agenda, as we help change the landscape of the Middle Eastern economy, has been a priority for us. This is the first step in the right direction for promoting the many opportunities available in Palestine.”
Marwan Tabari, chairman of the Palestinian Business Council, said: “We continue to transmit the messages that are crucial to attracting investment opportunities to a market with huge potential. We are all contributing to the development of a nation as a whole.” – TradeArabia News Service