Jordan Securities Commission Board of Commissioners Discuss with the Companies Control Department Mechanisms to Develop Procedures & Legislations of the Capital Market
13-Dec-2012
Jordan Securities Commission (JSC) Board of Commissioners held a meeting chaired by H.E Mr. Mohammed Saleh Hourani with the General Controller of Companies Mr. Burhan Akroush. The meeting was attended by Members of the Board of Commissioners, representatives from the (JSC), Ministry of Industry & Trade & Companies Control Department (CCD) & intended to emphasize (JSC) role of protecting investors & dealers & of enhancing cooperation among monitoring systems in Jordan capital market & shareholding companies.
At the onset of the meeting, the Chairman of (JSC) Mr. Hourani highlighted the importance of mutual efforts to provide a secure & developed investment environment to enhance trust in the national economy & protect investors & dealers in the securities market.
The meeting discussed, issues to regulate, monitor & develop Jordan capital market & mechanisms to register, license & pursue shareholding companies financial status as well as, mechanisms to activate the signed Memorandum Of Understanding between the (JSC) & the (CCD) regarding this.
Since it is essential to apply the Corporate Governance Code for Shareholding Companies Listed on the Amman Stock Exchange (ASE), the (JSC) & the (CCD) agreed to prepare well arranged instructions to govern this Code to ensure that shareholding companies apply it in accordance with the enforced international standards.
They also agreed to form Executive Committees including representatives from the (JSC), the (CCD) & relevant entities as well as, to hold periodic meetings between the (JSC) Board of Commissioners & the (CCD) to view at once relevant issues & to pursue executive procedures essential for shareholders & investors.
JSC pursue its cooperation & coordination with relevant official & unofficial entities & holds a series of meetings & gatherings, to enhance its work mechanisms to develop the quality of services provided to investors. Previously, (JSC) Board of Commissioners received the president & members of the Financial Services Companies Association, to enhance cooperation between all parties in Jordan capital market & to facilitate their responsibilities by surmounting difficulties & challenges facing Financial Services Companies.