Jordan Securities Commission Receives Royal Jordanian National Defense College on 23/05/2012
23-May-2012
Chairman of the Board of Commissioners of Jordan Securities Commission (JSC) Mr. Mohammad Tash, received at its headquarter the Commander of the Royal Jordanian National Defense College (RJNDC), members of the Steering Committee & College students during their visit to (JSC) & capital market institutions. The aim of the visit of the delegation is to acquaint them with work mechanism of (JSC), its effective role in the national economy & in implementing the economic policy.
The delegation comprised of students from the “National Defense & War Program” i.e. Senior Officers from the Armed Forces, Security Forces, government employees & of a number of Senior Officers from (13) Arab & foreign countries such as, Saudi Arabia, United Arab Emirates, Sudan, Lebanon, Syria, Sultanate of Oman, Bahrain, Egypt, Qatar, Syria, Taiwan, Kuwait, Pakistan & Palestine.
Mr. Tash greeted the delegation & stressed the importance of continued & mutual efforts between national & civil institutions & military ones. He emphasized that it is our social responsibility to protect the country, its citizens & defend them. Moreover, it is (JSCs’) core role & capital market institutions to protect investors & the market via several methods mainly, organization, legislation, rule of law, provide proper environment for trading in securities & prohibit illegal practices.
JSC is very keen to continue cooperation with Officers from the (RJNDC). This cooperation represents a chain between the (JSC) & the Jordanian Armed Forces since acquainting this vital sector of developments taking place in the capital market gives us a chance to exchange professional knowledge both legislatively & financially about national institutions & to share experiences to protect investors. It is also a chance to acquaint this sector of national institutions having a central role in attracting investments to the capital market; an essential base of a renewable economy.
Director of the Research & International Affairs Department at (JSC) Mr. Mazen Al-Wathaifi, detailed participants of the duties of the (JSC), its role in protecting investors & developing the national capital market.
Chief Executive Officer of the Amman Stock Exchange (ASE) Mr. Jalil Tarif, briefed participants of the role of (ASE) to attract savings to the national economy via providing a secure & highly efficient market to trade securities to enhance investing in Jordanian securities. Moreover, Mr. Tarif briefed participants of the New Electronic Trading System.
Chief Executive Officer of the Securities Depository Center (SDC) Mr. Sameer Jaradat indicated the technical & legal duties of the (SDC) to maintain the rights of securities owners, to document & to secure these ownerships. Mr Jaradat stated also, that owners of securities have the right to mortgage, transfer or trade in their securities freely. Mr. Jaradat indicated as well, the ownership records, its types, its methods of maintenance & issues affecting the trading contract, settlement, clearing & delivery versus payment. Mr. Jaradat clarified that the (SDC) is doing all of the above in accordance with international standards, to enhance protecting rights of investors; Jordanians & non Jordanians, respectively.
At the end of the meeting, answers were provided to questions & inquiries relevant to the securities market & to the duties of capital market institutions.