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Foreword by the Chairman

The year 2023 witnessed significant developments in the Palestinian national economy and the non-banking financial sectors, particularly those related to the ongoing Israeli aggression against the Palestinian people. This aggression is concentrated in the southern governorates of the homeland and aims to completely destroy the means of livelihood for the Palestinian people and push them towards migration.

 

These events were accompanied by a rapid response from the Palestine Capital Market Authority (‘PCMA’) on two main fronts: monitoring the negative impacts of the Israeli aggression on our people and our national economy with its various financial sectors, in coordination and integration with all relevant parties; and working on taking the necessary measures to protect the rights of stakeholders in the non-banking financial sectors, ensuring the continuity of the Palestinian economy. Concurrently, the PCMA continued its vision of developing the insurance, securities, financial leasing, mortgage financing, and financial technology sectors, in addition to enhancing governance in public shareholding companies.

 

The annual report for the year 2023 includes the financial statements of the PCMA, and its development, regulatory and supervisory efforts in the financial sectors supervised by the PCMA in extensive detail, and the report also reviews the PCMA’s achievements in terms of sustainability services and non-banking financial awareness, in partnership with the local community with its economic, academic, media, and communal components.

 

In conclusion, I express my honor in assuming the responsibility of chairing the Board of Directors of the PCMA and my appreciation for the trust placed in me by the Palestinian Council of Ministers with this assignment. I hope that this term will bring achievements that contribute to strengthening the Palestinian national economy. I take this opportunity to thank the former Chairman of the Board, Dr. Nabil Kassis, for his efforts throughout his tenure. I also extend my sincere thanks to the members of the Board of Directors, the executive management, and the staff for their tireless and continuous efforts in achieving the PCMA’s objectives and enforcing the law. Additionally, I thank all the Arab, regional, and international institutions partnering with the PCMA, in a manner that supports the steadfastness of the Palestinian people on their land and contributes to the process of sustainable development in the State of Palestine.

 

 

 

Chairman of the Board of Directors

 

Ammar Aker

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