Al-Wasata Securities Co., a subsidiary company to Bank of Palestine, was ranked first place for the largest trading volume and number of new accounts created through the company in Palestine Exchange during 2015; this was presented in the Exchange’s report to brokerage firms, which revealed the trading shares and number of new accounts created in the Exchange periodically throughout the last year.
Al-Wasata Securities Co. was ranked first with a trading volume of 176,349,114 US dollars by the end of 2015, with a share that reached 28.95%, from a total of 609,140,590 US dollars traded by all brokerage firms during the past year. As for new accounts created by Al-Wasata, the report indicated the company attracted 851 new accounts and investors, from a total of 2866 attracted by the Exchange in general, with a share of 29.7%.
Mr. Hashim Shawa, Chairman of Al-Wasata Securities Co., expressed his contentment for the continuing successes achieved by the company throughout the past years, and during last year in particular. He indicated that the company’s strategy is based on an ambitious plan to increase the trading volume at the Palestine Exchange, and attract new investors from inside and outside Palestine, in addition to enhancing the trust in the Palestinian economy and its various components, especially the stocks sector.
Mr. Sadeq Farawneh, General Manager of Al-Wasata Securities Co., indicated that this success is a result of the efforts made by the company’s team, who is highly qualified and professional, enabling the company to communicate and gain the trust of local and international investors. Mr. Farawneh indicated the essential role taken by the Palestine Capital Market Authority and Palestine Exchange in providing regulations and standards that are consistent with the global requirements and contribute in attracting external capital and investors, promote trust in local investments, and maintain the rights of investors at the companies listed in the Exchange.
Al-Wasata Securities Co. operates as Bank of Palestine’s investment arm; the company owns two branches, in addition to its head office and operates in various Arab markets, including Egypt, Dubai, Abu Dhabi, and Amman Exchange Markets. The total trading volume conducted through Al-Wasata reached more than $370 million during 2015 at the mentioned markets. The company plans to settle trades in the local market during 2016.