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AMMAN — The Jordan Securities Commission (JSC) issued 2017 instructions on corporate governance for listed shareholding companies which firms must abide by, according to a JSC statement received by The Jordan Times on Monday.
Previously, companies did not have to abide by former JSC governance instructions, issued in 2009, as they only represented guidelines for them, according to the JSC statement.
JSC Chief Commissioner Mohammad Hourani said the instructions, which he described as in line with international practices, would further protect investors and improve the investment climate in Jordan.
Hourani underscored the importance of the instructions issued, pointing out that previously, many shareholding companies faltered because such instructions were not there to assist them.
Currently, corporate shareholders might face some difficulties in applying all new governance provisions. Under the JSC regulations, companies would not have to adopt them in full until April 2018, Hourani indicated.