Major Developments of 2025

Looking at the results of 2025, listed companies on the Palestine Exchange have demonstrated their resilience, sustainability, and ability to adapt to the exceptional circumstances imposed on us by the aggression. They were also able to generate profits, with a large portion of these companies distributing dividends to shareholders while observing all precautionary measures adopted by public shareholding companies. Others sought to maintain operational balance in terms of production and their ability to provide services to the fullest extent possible. This, in turn, facilitates and supports a swift improvement in their operations once the conditions causing this impact come to an end.

As for market trading, we have begun to observe an improvement in trading activity and an increase in the market capitalization of listed companies. This is attributed to several factors, most notably the rise in the share prices of some leading listed companies, as well as the interest shown by certain relevant stakeholders and investors with available liquidity in seizing buying opportunities at lower price levels, on the one hand, and in maintaining price balance, on the other. This is a natural occurrence in financial markets. In addition, the long-term strategic outlook of investors with a higher risk appetite is often different from the developments on the ground under the difficult circumstances we are experiencing in Palestine.

Key Developments 2025

1. Licensing

During 2025, the PCMA approved the following licensing actions:

• Renewal of the licenses of 9 member securities companies to conduct financial brokerage and issuance management activities.
• Renewal of the licenses of 24 accredited brokers and 7 financial advisors.
• Renewal of the licenses of 5 banks to operate as custodians.
• Renewal of the license of the Palestine Exchange.
• Renewal of the licenses of 2 other legal entities to conduct investment advisory and issuance management activities.
• Granting securities company a license to deal on non-regulated foreign exchanges, after verifying that it had fulfilled all requirements, bringing the total number of companies licensed for this type of activity to 4.
• Non-renewal of the licenses of Arab Group for Investment for its licensed activities.

2. Issuances

During 2025, the PCMA approved 14 issuances with a total value of USD 455.8 million, as follows:

3. Disclosure

The following table shows listed companies’ compliance with periodic disclosure requirements during 2025 within the specified period.

* The disclosure period for the banking and financial services sector for the Preliminary Year-End Financial Statements for 2024 was extended until 15/03/2025.

**  The disclosure period for the banking and financial services sector for the Annual Report for 2024 was extended until 30/04/2025.

*** The disclosure period for the banking and financial services sector for the Financial Statements for the Third Quarter of 2025 was extended until 15/12/2025.

4. Regional and International Cooperation:

• Sharing supervisory procedures and information with Arab capital market institutions, pursuant to the International Organization of Securities Commissions (IOSCO) Multilateral Memorandum of Understanding concerning consultation, cooperation, and the exchange of information.
• Contributing with the Union of Arab Securities Authorities to the preparation of the guiding manual on best practices for addressing market risks and the rules governing cross-border financial activities.
• Participating in World Investor Week for the eighth consecutive year, and implementing specialized awareness programs on technology and digital finance, artificial intelligence, and fraud prevention.

Sector Statistics for 2025

1. Statistics on Trading Activity on the Palestine Exchange, Excluding Off-Floor Transfers

* The stated values include buy and sell transactions.

* The increase in issuance value in 2025 was due to the issuance of Loan Bonds by three public shareholding companies, totaling USD 390 million, as indicated in the detailed table under Item Five.

2. Regional Performance of the Al-Quds Index

The chart below shows the performance of the Palestine Exchange’s Al-Quds Index compared with the main stock exchange indices of UASA member markets in 2025 compared with 2024.