Economic leaders voice their opinions on the Jordanian economy and capital markets

Attendance included professionals from the investment industry as well as business leaders from a variety of fields. Highlights included presentations on the Jordanian financial market, the real estate sector and the regional economy as a whole. Guest speakers Mr. Jalil Tarif, CEO of Amman Stock Exchange (ASE), Mr. Shadi Al-Majali, General Manager of Saraya Aqaba, and Mr. Talal Samhouri, Head of MENA Asset Management at Global Investment House, presented their views on the current status and future investment potential in Jordan.

Mr. Tarif presented his view on the stock market, highlighting the substantial growth the ASE has achieved during the past five years, as it emerged to become one of the leading stock markets in the region. Tarif also highlighted ASE's plans of enhancing transparency and disclosure levels of listed companies in order to elevate the exchange's performance and competitiveness in global markets.

Sami Nabulsi, President of CFA Jordan said, "We are seeing a promising shift by both retail and institutional investors who are actively seeking professional investment advice locally. This, combined with an ever increasing array of investment opportunities, has created an environment that requires well trained investment professionals to lead the Jordanian financial sector through this exciting time in the Jordanian economy. CFA charterholders fit this requirement perfectly, and it is our intention to increase the visibility of such people and allow them to use their training and expertise in shaping the future of our sector."

Mr. Al Majali went on to underline the attractiveness of Jordan's investment environment pointing out the strategic location of Jordan and the secure and stable political and economic atmosphere the Kingdom enjoys. Al Majali also stated that the trade agreements that bind Jordan with the United States and the European Union and other countries and organizations, alongside the Government of Jordan's own development agenda, all contribute in making Jordan an attractive investment environment.

On the other hand, Mr. Samhouri stated that the correction that most of the region's capital markets experienced in 2006 has brought company valuations to attractive levels, thus starting to stimulate interest into regional markets once again. Mr. Samhouri expected that future investments will concentrate on leading stocks with healthy growth prospects; he also expected better financial results for a range of Jordanian companies in 2007 due to the high liquidity levels that are planned to be invested into these companies' operations. Mr. Samhouri went on to emphasize that companies should consider issuing bonds as a source of funds in order to strengthen their balance sheets. He also stressed that a wide range of lucrative investment opportunities still exist in the ASE, and that security selection will be the driver for investment portfolios' performance go forward, and not speculative activities.

CFA Jordan, which was established in 2002 and is headquartered in Amman, aims to promote ethical and professional standards within the investment industry, to facilitate the open exchange of information and opinions, and to encourage professional development through the CFA Program.

"We will continue exerting every effort to contribute effectively in the development of the economic cognitive body, side by side with both public and private sector organizations. We extend our sincere gratitude to all our guests for their precious contribution in making this event a success," added Mr. Nabulsi.

CFA-Jordan is sponsored by a group of prominent local and international financial institutions, including their platinum sponsor Global Investment House of Kuwait.