Madaba: The government approved a series of landmark decisions Tuesday focused on economic modernization, infrastructure development, and regulatory reforms during its sixth provincial session held in Madaba Governorate.
According to Jordan News Agency, the Cabinet endorsed the Virtual Assets Regulatory Framework Bill for 2025, which will now advance to the House of Representatives for constitutional review. Government Communication Minister and Official Spokesperson Mohammad Momani revealed the legislation comes less than two months after the Cabinet directed the establishment of a robust regulatory environment for virtual asset transactions, aligning with the Future Technology Council’s mandate established at His Majesty King Abdullah II’s directive.
“This framework creates the necessary balance between fostering technological innovation and safeguarding financial stability through transparent regulatory mechanisms that enhance compliance with international standards,” Momani stated during a post-session press briefing. The legislation comprehensively governs virtual asset transactions, delineates related activities, establishes oversight mechanisms, and implements protections for market participants. Under the proposed framework, the Securities Commission will assume authority for licensing virtual asset service providers and ensuring adherence to statutory requirements.
The framework aims to bolster investor confidence by creating a transparent legal environment that protects stakeholder rights while encouraging participation in this promising sector. It establishes a secure, sustainable digital financial ecosystem that keeps pace with global developments while mitigating potential risks to the national economy.
In parallel, the Cabinet approved the foundational principles for the Insurance Law of 2025, addressing regulatory gaps and unifying jurisprudential interpretations by establishing a comprehensive reference framework for insurance contracts. Key provisions include criminalizing the purchase of insurance claim rights and standardizing disability percentage determinations to prevent overestimation.
In a significant energy sector advancement, the Cabinet authorized the National Electric Power Company (NEPCO) to proceed with implementing a 600-megawatt combined-cycle power generation facility as an Independent Power Producer project. This vital infrastructure project will be executed in two phases, with initial operations commencing by end-2027 and full completion during 2028.
The Cabinet also approved regulations governing human medical clinics and centers for 2025, establishing operational requirements and licensing conditions to ensure service quality. Ministers approved charitable donation collection regulations for 2025, systematizing fundraising procedures to promote transparency and accountability.
The Cabinet tasked the Ministry of Public Works and Housing with maintaining Bus Rapid Transit infrastructure between Amman and Zarqa, allocating three million dinars for this purpose. Additionally, they authorized climate control and solar energy system installations for schools in Al-Wasatiyah District.
Internationally, the Cabinet adopted the final declaration of the Global Disability Summit 2025, promoting access and rights for persons with disabilities. On the Palestinian situation, Momani condemned Israeli military aggression on Gaza, emphasizing Jordan’s commitment to securing Palestinian rights.
The Cabinet approved the retirement of Labor Ministry Secretary-General Farouq Al-Hadidi and appointed Salem “Muhammad Ali” Al-Qudah as Secretary-General of the Finance Ministry. The development vision discussed in Madaba includes plans for a modern hospital and a rapid transit bus corridor between Madaba and Amman.