The JSC participates in the 17th meeting of the Union of Arab Securities Authorities

The Jordan Securities Commission (JSC) participated in the seventeenth annual meeting of the Council of the Union of Arab Securities Authorities, which was held on the first of this month 2023 in the city of Riyadh, the Kingdom of Saudi Arabia, in the presence and participation of the Chairman of the JSC, Dr. Laith Kamel Al-Ajlouni, and representatives of the member bodies of the Union.
The participants discussed the Union’s annual report for 2022, which was approved, in addition to issues of concern to Arab securities authorities, especially with regard to enhancing cooperation and coordination among them. The Union’s financial statements were also approved, in addition to discussing the memorandum of the Union’s General Secretariat regarding signing the memorandum of understanding. With the Chartered Institute for Securities and Investment (CISI), the Union’s work plan and program for 2023, and the formation of work teams to implement the goals and initiatives of the Union’s strategic plan, and the training plan for 2023, in addition to discussing the latest developments and future projects for members of the Union.
The meeting’s agenda also included examining a number of other memorandums from the Union’s General Secretariat, namely the work completed under the action plan and the Union’s work program for the year 2023, studying the reality of financing for micro-enterprises, studying the rules and principles of sustainability in non-banking financial markets, and issuing a guidance document on investor rights. In addition to a memorandum to issue approved guidelines on the uses of artificial intelligence and machine learning, prepare a cyber risk assessment model, and measure the commitment of entities subject to member oversight.
The meeting aims to raise the legislative and regulatory level of Arab securities markets, in a way that achieves justice, efficiency and transparency, and to work to unify efforts to reach effective levels of control over transactions in Arab securities markets, as well as joint cooperation and coordination among members of the Union to achieve maximum harmony and compatibility in Related to relevant laws and regulations. The Union also aims to overcome the difficulties facing investment in Arab stock markets, expand its base, diversify its tools, and deepen the investment culture, as well as deepen the concepts of disclosure, transparency and governance, and apply the best international standards and practices.