Jordan Securities Commission Registers New Securities on March 2.2011
03-Mar-2011
On March 1.2011 Jordan Securities Commission (JSC) represented by its Board of Commissioners & chaired by Dr. Bassam Saket, decided to approve new securities registration. Provisions of Article (5) of the Securities Law No. 76 for the year 2002 stipulate that: ‘Every Issuer in the Kingdom shall submit to the Commission an application for registering securities therewith in accordance with the Instructions issued by the Board’. By virtue of this Article every issuer of securities is obliged to submit to the (JSC) an application to register these securities & to have (JSC) prior approval.
The Board of Commissioners approved the following:
1. Approve the registration of the 2ed issuance of Jordanian Treasury bills for the year 2011 at a maturity date on February 10.2012, at a value of JD (40) million & address the Securities Depository Center (SDC) to register them.
2. Approve the registration of the 6th issuance of Jordanian Treasury bonds for the year 2011 at a maturity date on February 8.2013, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
3. Approve the registration of the 5th issuance of Jordanian Treasury bonds for the year 2011 at a maturity date on February 3.2014, at a value of JD (42.1) million & address the Securities Depository Center (SDC) to register them.
The Board of Commissioners approved to grant a license to Arab Financial Investments Company to undertake safe keeping businesses. The Board also, approved to accredit the following new natural persons to undertake financial services businesses by virtue of the provisions of Articles (47) & (48) of the Securities Law No. 76 for the year 2002 & of the Instructions of Financial Services Licensing & Registration for the year 2005. These Instructions oblige these persons to have a license from the (JSC) to undertake such services:
Number Name Type of Accreditation Company
1 Mohammad Sami Khalil Financial Brokerage Arab Financial Investments
2 Khalil Abed Al-Fatah Al-Mani Financial Brokerage Umniah for Financial Investments
3 Enas Hesham Al-Saedi Financial Brokerage Emerging Markets for Financial Services & Investments
The above stated Instructions stipulate that licensee should pay the (JSC) the required fees. (JSC) also stipulates a number of terms that must be fulfilled by the applicant, to be granted an accreditation for a natural person, mainly the following:
• Be competent, of good reputation & manners.
• Holder of a Bachelor Degree.
• Successfully pass examinations held by the (JSC).
• Participated in courses approved by the (JSC) for acquiring the required registration.