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Several transactions raise the trading value and the PMA starts to apply Basel III requirements

2018-06-07

Sahem Weekly Trading Report (03-07)-06-2018

In the first week of June, Palestine Stock Exchange PEX witnesses new routinely anticipation, which is the expectancy of semi-annual listed companies’ financial data disclosures, whereby, the PEX grants the listed companies 45 days from the end of June to disclose their semi-annual financial results. On another hand and with the end of the penultimate week of the holy month of Ramadan, the routine trading of this month which- historically- may increase the trading scarcity and add anticipation factors if we excludes the institutional transactions, continues in the PEX. In another context and despite the general incentives inactivity due to the unavailability of any developments in the political or economic aspects, the trading value of the PEX increased due to executing several transactions in the PEX during the week, whereby, the largest company in the PEX in terms of market capitalization- Palestine Telecommunications PALTEL- witnessed executing several cross transactions on its stocks of 0.27 million shares during this week and the largest bank by market capitalization- Bank of Palestine BOP- also witnessed executing a transaction of 2.03 million shares on its stocks in the last trading session of the week. However, with the varied declines in some of the leading stocks’ prices below or at their equivalent prices following the dividends distribution approval and the attempts of others to close with slight to medium increases, Al-Quds Index closed, in this week, with a decline of 0.52% than its previous weekly closing level, to stand at 539.37 points.

Regarding the significant news of this week and in order to enhance the stability and safety of the banking system and in pursuit of Palestine Monetary Authority PMA to keep abreast of the regulatory developments and best practices in the banking system field, especially the reforms adopted by the Basel Committee in the so-called Basel III, the PMA issued instructions to the banks operating in Palestine regarding applying the Liquidity Coverage Ratio (LCR) and the Net Stable Funding  Ratio (NSFR) in order to strengthen the ability of banks to cope with liquidity risks. It is good to note that the PMA has worked since issuing the decisions to apply Basel III to create an appropriate environment and take the necessary actions to implement those decisions gradually in line with the existing conditions of the banks and the surrounding environment. Whereby, the PMA has previously issued instructions to cover some aspects of Basel III, including the periodic fluctuations reserve and updating the rules and practices of the banking governance, in addition to applying the banks’ framework that are systematically important at the local level to enable the PMA to measure and adjust the systemic risks that may affect the financial stability. It is worth mentioning that the PMA is currently working on completing to apply the requirements of Basel III regarding the capital components and leverage ratio.

And regarding the significant news that would strengthen the Palestinian economy and assemble the local resources for development as a source for creating much-needed job opportunities, especially for young men and women, the World Bank launched two new projects in the Palestinian Territories worth $16 million. Whereby, a $13 million grant will fund the development of the private sector through supporting the start-up companies and managing their access to credit and training, in addition to another $3 million grant in order to improve the general financial management to encourage the private sector to provide financial services.


 

2018-12-13
Al-Quds Index closed in the red zone for the second week in a row

2018-12-06
Several transactions lift market’s transaction value

 

 

 
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