Jordan Securities Commission Trains Public Shareholding Companies to Apply the Electronic Disclosure System on June 17.2013

Chairman of the Jordan Securities Commission (JSC) HE Mr Mohammed Saleh Hourani, inaugurated at the Commissions’ headquarter the First Training Program on the Electronic Disclosure System (EDS) to be used by Public Shareholding Companies (PSCs).

Training of (PSCs) started dividing them according to sectors. Personnel of the Disclosure & Information Technology Departments trained representatives of six (PSCs) on financial disclosures, starting with operating Jordanian Banks in the market, followed by another six companies from the Insurance Sector, then a group from the Services Sector. Training will continue until various sectors are ready to apply the Trial Phase of the Project & improvements are specified to be added on the Trial Copy, prior to applying them on the Final Copy to be activated afterwards on all companies.

Mr Hourani indicated that the development of the (EDS) is finalized according to up-to-date technologies & electronic means, to enable (PSCs) & parties subject to the Commissions’ monitoring, to provide the Commission with their disclosures via filling in & sending Electronic Forms that will be received by the Commission, audited & promptly published to investors after documenting them on the System’s specified database.

Furthermore, Mr Hourani emphasized that the System is expected to enhance the swiftness & accuracy of sending & receiving disclosures issued by (PSCs), as well as, enable them to view several reports at the same time depending on the System’s database, whether to a certain company or to a certain sector or to all companies.       

Mr Hourani stressed that the (JSC) believes in the effective strategic role played by (PSCs) in the success of the (EDS) Project.