FTSE group announced today that the FTSE Governance Board has ratified the recommendation from the FTSE country classification committee and the policy group that Palestine be placed on the FTSE watch list for possible promotion to frontier market status within FTSE equity indices.
Adding Palestine Exchange to the Watch List is the first signal to the international investment community that FTSE is contemplating a change of status for the exchange, which shall be considered in the next annual country classification review in September 2015.
Mr. Ahmad Aweidah, CEO of PEX expressed his satisfaction saying that this is a new milestone in putting Palestine Exchange on the international investment radar, hoping that it will attract further foreign investment into PEX.
A change of status for a market is a significant step for the country and investors in its market.
The FTSE Watch List comprises a set of markets which international investors believe are close to being ready for promotion to the next category, with in FTSE indices.