BOP Al-Wasata Securities has received the best money broker award in Palestine for 2014 from Global Investor/ISF. The handover ceremony took place during a conference organized by Global Investor Magazine to discuss latest developments in the capital market sector in the Middle East. The conference, attended by officials from the financial and banking sector as well as from the Capital Markey Authority and company managers from the Middle East and the Arab region, was held in Atlantis Hotel in Dubai, UAE. Al-Wasata Securities representative Suleiman Al-Radwan received the award.

The Global Investor/ISF Conference in the Middle East is a significant annual conference during which the Investment Excellence Awards 2014 has been organized to honor best financial institutions. Experts in the capital, financial and brokerage take part in the conference, which aims to facilitate interaction between the various sectors of financial services.

For his part, Al-Wasata Securities Chairman Hashim Shawa expressed pride for receiving the award calling it an “emblem of ongoing development and a significant witness of investors’ trust in our company.”

Shawa also congratulated Al-Wasata management and staff for receiving the award, considering it a tremendous achievement that calls for greater responsibilities and extra efforts to provide better services on the national and regional levels. The award, Shawa continued, will motivate Al-Wasata to provide upgraded brokerage services to investors. He affirmed that Al-Wasata Board will work together with the Executive Management toward attracting more capital and buying the shares of companies listed in Palestine Exchange with the view of enhancing financial stability and increase market depth.

For his part, Al-Wasata General Manager Sadeq Farawne said the company has meritoriously received the award along with other large and well-established brokerage companies in the Middle East and the Arab region. Farawne brought up names of the most important brokerage companies in the Middle East that have received the award along with Al-Wasata Securities including NBK Capital from Kuwait; AB Invest from Jordan; QNB Financial Services from Qatar; ADS Securities from UAE. In spite of the dire economic situation in Palestine, Palestinian financial companies managed to achieve many successes.

Several global and regional financial institutions have applied for the award including Deutche Bank; Barclays Bank; HSBC and other giant financial service organizations. 

On another note, on the sideline of the conference, several experts have discussed the latest developments that have taken place in Arab markets, the future vision of the exchange activities in the region, and the impact of Qatar and UAE joining the global index MSCI in the index activity. Participants have also discussed the future of competition between Qatar and UAE markets; Saudi Arabia entering the competition after a decision allowing foreign participation; the impact of political changes taking place in Iraq, Yemen, Egypt and Syria on the share activity in the Middle East; the negative impact of the drop in the price of oil barrel on the Gulf financial market.