Hourani Emphasizes Importance of Continuous Coordination between JSC & BDs of Capital Market Institutions to Enhance Capital Market 02/10/2012

Under the Chairmanship of H.E Mr. Mohammed Saleh Hourani Jordan Securities Commission (JSC) Board of Commissioners held a meeting attended by members of the Amman Stock Exchange (ASE) Board of Directors. The meeting discussed future plans of the securities market & mechanisms to enhance cooperation between the (JSC) & the (ASE) to harmonize mutual work for the benefit of the market & its dealers. The Chairman greeted & wished the newly appointed members in the (ASE) Board of Directors the best of good luck. 

The meeting discussed also, a number of issues with the (ASE) executive management, mainly the new Instructions of Listing Securities that shall be implemented in October after fulfilling the needed legal & technical procedures as deemed proper. Furthermore, they discussed Brokers’ Credit Limit (Trading Cap), Segregating Clients’ Accounts & amending the Instructions of Margin Finance.

H.E Mr. Hourani emphasized the importance of mutual coordination between the (JSC) & the (ASE) & the essentiality of periodic review of market legislations & regulations, to cope with up to date international criteria & standards. H. E Mr. Hourani also emphasized the necessity to review procedures to enhance & to encourage investors’ confidence in the capital market & in the national economy.  

By virtue of the Provisions of Article (17/B-2) of the Internal By-Law of the (ASE), the Board of Commissioners previously decided to appoint Dr. Safwan Toukan & Dr. Ashraf Ismail Al-Oudwan members in the (ASE) Board of Directors. The decision came into effect on September 25.2012.