Dr. Al-Qattamin confirms the government's support for efforts to promote investment in the Amman Stock Exchange and revitalize the financial marketDr. Al-Qattamin confirms the government's support for efforts to promote investment in the Amman Stock Exchange and revitalize the financial market

The Minister of Labor and Minister of State for Investment Affairs Dr. Maan Al-Qattamin affirmed the government’s support for efforts to promote investment in the Amman Stock Exchange and revitalize the financial market, and for the efforts of the national capital market institutions to enhance the investment climate in the ASE and implement its strategic plans, noting that mechanisms to achieve this direction will soon be found in cooperation. With all the authorities related to the market, and working to take the necessary measures to overcome the obstacles to promoting the activity of the stock exchange, because promoting investment in all its forms and types is one of the priorities that the government is working to achieve and under the guidance of His Majesty the King and vigorous follow-up by the Prime Minister and within a clear strategy and vision. And in a way that helps us to overcome the difficult conditions created by the Corona crisis and other crises that have passed through the region, and to achieve the desired goals.
This came during a visit by the Minister of Labor this morning to the institutions of the national capital market, during which he discussed with officials from the Securities Authority, the Amman Stock Exchange, the Securities Depository Center, and representatives from the national capital market sector the opportunities and challenges facing market institutions in general and the Amman Stock Exchange in general In particular, and discussing the most important proposals that contribute to facing these challenges and reviving the national capital market, as it is one of the most important economic facilities that work to provide liquidity, mobilize national savings, and provide financing for economic projects, especially major ones in the public and private sectors, which leads to the promotion of sustainable economic growth. .
Dr. explained. Al-Qattamin said that the coming days will witness a realistic translation of this government interest to support the directions of the Securities Authority, market institutions and the stock exchange, enhance the competitiveness of the financial market and investment opportunities in it, enhance investors’ confidence in the legislative and investment environment, and overcome the challenges facing the stock exchange, because of its significant role in promoting economic growth. and investment.
The Minister expressed his appreciation for the development witnessed by the national capital market in terms of developing legislation and electronic systems and applying corporate governance rules, which contributed to achieving great leaps to the rank of Jordan in the Doing Business report issued by the World Bank. He pointed out the importance of implementing the strategic plans referred to by the market institutions to develop the legislative and technical frameworks in it in accordance with the latest international standards and practices within a timetable and a measurable executive framework, which will lead to enhancing the development process of this market and achieve the objectives of these institutions.
He also pointed out that the launch of the XBRL electronic disclosure system by the Securities and Exchange Commission and its adoption as an exclusive mechanism for disclosures and services for the entities subject to the supervision of the Securities Commission, which represents an important step within the approach to promoting electronic transformation by the Securities and Exchange Commission and the Amman Stock Exchange in line with the government's direction to implement e-government Improving performance and services provided, especially to local and foreign investors, in both Arabic and English, which reflects development and progress towards achieving more elements of confidence in the market and enhancing its role in the national economy and achieving economic development.
 Dr. explained. Al-Qatamin stated that he was assigned by the Prime Minister to prepare a comprehensive study on the reality of investment in all its sectors, including the stock market sector.
For his part, Chairman of the Board of Commissioners of the Securities Commission, Dr. Laith Al-Ajlouni, reviewed the achievements made by the authority, starting with the drafting of the securities law, which came to bring about a qualitative leap in the national capital market, whereby the authority was entrusted with supervisory, regulatory and executive powers over the national capital market with the aim of providing an appropriate climate for investment. in the market and increase confidence in it and prepare it to attract local and foreign investments. As noted by Dr. Al-Qatamin referred to the great interest that the Authority has given to developing the legislative structure related to the capital market in a way that ensures the achievement of the objectives for which it was established, and to study and develop these legislations on an ongoing basis to ensure their alignment and keeping pace with the development of the capital market and to monitor the commitment of all relevant authorities to the application of these legislations. Legislation in providing a sound and safe financial market through the application of the principles of transparency, justice and efficiency and achieving the rule of law and rules of governance.
Dr. confirmed. Al-Ajlouni said that the successive crises in the region and the world, whose effects were directly reflected on the economic indicators in the Kingdom in general, and on the indicators of the capital market, in particular, and as a result led to a decline in the performance of this sector, indicating that the capital market, like the rest of the economic sectors, was affected in a way. due to the consequences of the Corona pandemic.
He said that the Securities and Exchange Authority, the Amman Stock Exchange, and those in charge of the capital market and its partners were able, through their concerted efforts, to preserve the financial market and its components despite the political, economic and health challenges that cast a shadow on the local and international levels. He added that cooperation, exchange of experiences, teamwork, coordination with the various capital market authorities, and diligent keenness on their participation in future plans and projects will remain a message for the work of the authority and a title for its future role.
He touched on what the authority is currently working on, in partnership with those in charge of the capital market and various government agencies, to achieve and complete a number of projects and according to an announced timetable, ensuring the organization and development of the national capital market and achieving justice, efficiency and transparency, including: a draft amendment to the law of Islamic finance instruments, a draft A market maker licensing study, a project to issue new financial instruments, such as issuing shares with different characteristics and rights, and a study to expand the structures allowed to be established for equity funds.