Amman: Chairman of the Board of Commissioners of the Jordan Securities Commission (JSC), Emad Abu Haltam, said the commission's future direction and strategic path are aligned with the Economic Modernization Vision within the same timeframe of 2026-2029, noting that the JSC's strategy is built around three main pillars: developing and enhancing the competitiveness of the local capital market, regulating dealings in virtual assets, and regulating trading in foreign exchanges while providing a safe and attractive legislative environment for investment.
According to Jordan News Agency, Abu Haltam made the remarks during the Government Communication Forum organized by the Ministry of Government Communication at its headquarters, in the presence of the ministry's Secretary-General, Zaid Nawaiseh. The forum addressed "Capital Market Development" and new regulatory directions related to virtual assets and foreign exchanges within the framework of the government's policy aimed at enhancing transparency and direct engagement with public opinion on contemporary economic issues, supporting the Economic Modernization Vision.
Regarding the development of the local capital market, Abu Haltam emphasized its primary attention, highlighting the Amman Stock Exchange index's recent rise to levels unseen for nearly 17 years. This growth is attributed to positive outcomes from listed public shareholding companies, improvements in macroeconomic indicators, and government stimulus decisions. Notable measures include tax incentives for mutual investment funds, extending trading hours to accommodate investors in different time zones, and reducing trading commissions.
He added plans to stimulate initial public offerings (IPOs) by creating a supportive legislative environment and mentioned loan bonds as a financing channel, citing successful issuance operations, particularly perpetual bonds. Abu Haltam highlighted a package of decisions aimed at stimulating investment, including amendments to financial solvency and capital adequacy instructions, completed swiftly to protect investors and facilitate investment in the Amman Stock Exchange.
In connection with trading in foreign exchanges, Abu Haltam announced increased license opportunities for financial services companies and a 100 percent increase in guarantees on foreign exchanges to manage investment risks. He emphasized the importance of investor diversification and cautioned against borrowing for investment purposes.
In digital transformation, Abu Haltam mentioned collaboration with the National Cybersecurity Center and public universities to introduce trading surveillance systems. Regarding virtual assets, legislative achievements were reviewed, including regulations for licensing service providers in brokerage, trading platforms, products, and custodial services to safeguard currencies and assets.
Highlighting the commission's dedication to regulatory and supervisory frameworks, Abu Haltam discussed the Securities Law's aim to provide a safe investment environment and establish clear controls for virtual asset service providers, focusing on users' rights protection and money laundering prevention.
He warned against dealing with unlicensed companies in foreign exchanges and advised on investment diversification to avoid risks of fraud, volatility, or illusory profits. Nawaiseh noted the JSC's role as a regional financial hub, emphasizing its pivotal role in investor protection and financial stability.
Nawaiseh underscored the strategic partnership with national media in protecting the economy and citizens, stressing the importance of raising awareness about risks associated with deceptive advertisements in foreign exchanges and fake trading platforms. The Ministry of Communication aims to ensure accurate information reaches citizens and shields them from high-risk investments conducted outside the legal and regulatory framework.