Consequences of Financial Crisis on Capital Markets: Opportunities to Restore Confidence in Markets Jalil Tarif Chief Executive Officer Annual Palestinian.

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Consequences of Financial Crisis on Capital Markets: Opportunities to Restore Confidence in Markets Jalil Tarif Chief Executive Officer Annual Palestinian Capital Market Forum Bethlehem - November 2 nd, 2009

Amman Stock Exchange Global Financial Crisis World Stock Exchanges Performance, 2008 & 2009 (%)

Amman Stock Exchange Global Financial Crisis Emerging Markets Performance, 2008 & 2009 (%)

Amman Stock Exchange Global Financial Crisis Arab Stock Exchanges Performance, 2008 & 2009 (%)

Amman Stock Exchange Global Financial Crisis Market Capitalization of Arab Stock Exchanges 2005June 2009

Amman Stock Exchange Global Financial Crisis “Downturn Bottomed Out” - Green shoots across global economy. - Put recession behind. - Downturn “bottomed” out. - Look forward to renewed growth - 30% increase in global equity price.

Amman Stock Exchange Capital Market / Financial Crisis - Intervention. - Regulation. - Market Forces. - Competition.

Amman Stock Exchange Capital Market / Financial Crisis IOSCO -Strengthening cross-border enforcement cooperation and concerns about abusive short-selling. -Enhancing market transparency and underpinning market integrity. -Develop regulatory approaches to mitigating the potential risks posed by unregulated parts of global markets such as hedge funds. -Focus on International financial reporting standards and the accountability of the standard setter to the community of national authorities.

Amman Stock Exchange Capital Market / Financial Crisis WFE -Remain critical providers of liquidity and stay open each day of trading. -Provide ongoing, transparent price discovery, and a safe, neutral and independent platform. -Enhance the value and clarity of financial reporting. -Prepared to contribute to assuring that rating agencies serving investors. -OTC instruments can be evaluated and organized for on- exchange trading and clearing. -Absence of a level playing field between different markets.