Saudi Arabia
Jordan Securities Commission
Jordan Securities Commission regulates Securities. Insurance Commission of Jordan regulates Insurance. Public shareholding companies were established in the early 1930s. Ever since, Jordanian public have been subscribing and dealing in shares. Corporate bonds were issued in the early sixties. Transactions were handled in individual brokerage offices. Thus, the need for a well-organized market aroused, and the establishment of the Amman Financial Market became crucial. January 1, 1978 was the birth of a leading securities market in the region. Since that date, the Amman Financial Market, played the role of the stock exchange as well as a regulatory body.
The capital market has made a significant qualitative transition of operating according to international standards. The passage of Securities Law No. 23 in 1997 was indeed a landmark and a turning point for the Jordanian capital market. Three institutions emerged out of what has been the Amman Financial Market till 1997. They are:
Jordan Securities Commission is the regulator of the capital markets. The mman Stock Exchange worked closely with the
Securities Exchange Commission –SEC (United States) and the Jordan Exchange Commission –JSC to create cutting edges technology and services to serve a broad well-educated investor base in Jordan.
Information To Help You Get Your Work Done
Investor Protection
The JSC works on achieving its objectives specifically investor protection and maintaining sound dealing in securities, in a number of different ways including the following:
issuance of capital market regulations to ensure market operates in a fair and orderly manner.
transparency and disclosure to provide investors with necessary information to make their informed investment decisions.
licensing and Regulating the necessary financial services in the capital market.
regulating investment and mutual funds.
application of international standards to the activities in the capital market including disclosure, trading and clearing and settlement, in addition to the application of international accounting and auditing standards by parties under the supervision of the JSC.
accrediting codes of conduct and ethics for the capital market institutions staffs.
launching public awareness and investor education campaigns in matters relating to investment in securities.
continuous training for the staff of the JSC and the capital market institutions in addition to certified financial professionals, to raise their efficiency and qualifications.
receiving and investigating complaints from public and investors.
application of penalties in case of any violations to the Law
Contact: Phone-962 6 5607171 P.O.BOX: 8802 Amman 11121 Jordan Email:
info@jsc.gov.jo
Insurance Commission of Jordan
The Insurance Commission, which was established towards the end of 1999 by the Insurance Regulatory Act No. 33 of 1999 as an administratively and financially independent organization.
The Insurance Commission:
- regulate the local insurance sector
- regulate commissions paid to brokers
- regulate the insurance institutions operating in the Jordanian insurance market
- regulate the actuarial experience and regulating the scrutiny and analysis of insurance companies
- regulate the different methods to settle these disputes and adopted the alternative resolutions to achieve this end.
Need More Information?
Contact: Info -Shmeisani- Abdul Hameed Shouman St.
Fanous Commercial Center Building No. 47
Telephone: 962 6 565 6327 / 8
P.O. Box: 940829 Amman 11194, Jordan
E-mail: info@irc.gov.jo