Chairman of the Jordan Chamber of Commerce (JCC), Senator Khalil Hajj Tawfiq, met on Sunday with representatives of financial brokerage firms and companies operating in the Amman Stock Exchange (ASE).
The meeting, attended by the JCC representative of the financial and banking sector, Firas Sultan, covered challenges and issues facing investors in the sector and finding effective solutions that contribute to boosting the ASE’s activity and empowering the national economy, according to a JCC statement.
According to the statement, Hajj Tawfiq stressed the JCC’s keenness and readiness to adopt the sector’s demands and present them to the concerned authorities and seek to solve them in a way that contributes to supporting and stimulating the ASE and is consistent with the economic modernization vision and objectives, realizing growth, job creation, investment, and partnership with the private sector’s targets.
For his part, Sultan, who is also the second JCC vice president, stressed the importance of finding s
olutions that enhance the flow of investments to the ASE in line with the economic modernization vision’s indicators.
He explained that the ASE is a key pillar of Jordan’s economic growth and is the true mirror for attracting foreign investments.
He emphasized that stimulating the ASE will lead to positive effects, including increasing foreign investments, supporting economic growth, and providing job opportunities for Jordanians.
During the meeting, representatives of brokerage firms and companies operating in the market raised several proposals to support and revitalize the sector, including the need to amend relevant laws, strengthen the tools of the Jordan Securities Commission (JSC), address the lack of liquidity, and reduce taxes imposed on public shareholding companies.
They also called for allocating a percentage of banks’ profits to invest in the stock market, and incentivizing brokerage firms to activate their role.
They also discussed launching programs that encourage investment to boost confi
dence in the ASE.
It was agreed to form a committee of industry representatives to develop a roadmap that includes the necessary measures and solutions to reform the market, whether from the legal or economic point of view, and these proposals will be submitted to the JCC to adopt them and seek to resolve them with the concerned authorities.
Source: Jordan News Agency