Amman, Dec. 30 (Petra) - 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.

Abu Haltam made the remarks on Tuesday 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, in support of the Economic Modernization Vision.

Regarding the first pillar, the development of the local capital market, Abu Haltam said it receives primary attention, pointing to the reasons behind the Amman Stock Exchange index reaching levels not seen for nearly 17 years. These include the results achieved by listed public shareholding companies, improvements in macroeconomic indicators, and government stimulus decisions, which together boosted confidence and investment in the capital market. Among the most notable measures were tax incentives to establish mutual investment funds, extending trading hours by one additional hour to enable investors living outside the Kingdom’s time zone to access investment opportunities, and reducing trading commissions.

He added that there are also plans to stimulate initial public offerings (IPOs) by providing a supportive legislative environment. In addition, loan bonds constitute one of the financing channels, with successful issuance operations carried out in previous periods, particularly perpetual bonds.

Abu Haltam pointed out that the JSC’s Board of Commissioners adopted a package of decisions aimed at stimulating investment, including amendments to financial solvency and capital adequacy instructions, which had not been updated for nearly 30 years. He explained that these amendments were completed in record time to keep pace with developments and standards, protect investors, and provide facilities for investment in the Amman Stock Exchange. In cooperation with the exchange, a restricted trading mechanism was also introduced, allowing companies trading in the unlisted securities market to trade on the exchange within limited timeframes and narrower price ranges.

In this context, he stressed the importance of disclosure and transparency in raising market efficiency and enhancing confidence in the financial market.

He also noted that amendments to the JSC’s fees and service charges system, as well as listing fees, were introduced to support the Amman Stock Exchange, improve its performance, and help it achieve the required profitability.

With regard to the second pillar, trading in foreign exchanges, Abu Haltam said the door was opened to licensing financial services companies already licensed to obtain additional licenses, excluding introducing brokers. He added that guarantees on foreign exchanges were increased by 100 percent to manage investment risks in these exchanges and that preparations are currently underway with a media outlet to publish awareness content.

He urged investors to diversify their investment portfolios and avoid borrowing for the purpose of investment.

In the field of digital transformation, Abu Haltam said there is extensive cooperation with the National Cybersecurity Center and public universities to introduce trading surveillance systems.

As for the third pillar, dealing with virtual assets, he reviewed legislative achievements, including the issuance of the law and the regulation for licensing virtual asset service providers. Once these enter into force, applications for licenses will be accepted in four main areas: brokerage, operation of trading platforms, products and issuances, and custodial services to safeguard these currencies and assets against theft and hacking.

He pointed to the JSC’s partnerships with national institutions and specialized entities to protect investors and provide a safe, attractive investment environment through controls and governance.

Abu Haltam added that the commission is moving forward with drafting regulatory and supervisory frameworks to keep pace with global developments in various fields, particularly financial technology and cybersecurity systems and technologies.

He explained that the Securities Law and its related regulations aim to provide a safe investment environment, noting that work is underway to establish clear controls for virtual asset service providers within the Kingdom, ensuring the protection of users’ rights and the prevention of money laundering, in line with international standards.

On trading in foreign exchanges, Abu Haltam warned against dealing with companies not licensed by the JSC, advising investors to diversify their investments and not be drawn by ambitions of achieving illusory profits.

He said the commission is working to develop oversight tools to limit risks associated with such trading, which could expose citizens’ savings to loss due to fraud, sharp volatility, or the lure of quick profits without due consideration of the inherent risks.

For his part, Nawaiseh said the Jordan Securities Commission is consolidating its position as a regional financial hub attractive to investment, playing a pivotal role in protecting investors in the securities market and enhancing financial stability.

Nawaiseh said the commission relies on a clear approach and well-studied plans to develop the capital market in a way that enhances the efficiency of the financial market.

He pointed to the central role played by national media as a strategic partner in protecting the national economy and citizens, stressing the need for concerted media efforts to raise awareness among investors, particularly youth, about the risks of being misled by deceptive advertisements for foreign exchanges and fake trading platforms.

"Our role at the Ministry of Communication is to ensure that accurate information reaches citizens and to shield them from the risks of high-risk investments conducted outside the state’s legal and regulatory framework," he said.

//Petra// AF

30/12/2025 20:57:02