ACCESS TO FINANCE AND CAPITAL MARKET
Deepen Access to Finance from Banks and Non-bank Financial Institutions
The development of robust capital markets yields positive outcomes for the economy. By improving access to finance, the government will contribute to the empowerment of entrepreneurs, encourage investment, and stimulate economic activity. Furthermore, the development of capital markets has enhanced liquidity, boosted investor confidence, and provided new avenues for businesses to raise capital.
Therefore, the Government of Jordan is committed to foster greater access to finance and capital markets through several reforms. This pillar focuses on the credit infrastructure framework and accessibility to diverse sources of financing for a wider set of people.
Through these reforms, the government is nurturing a dynamic business landscape that drives economic prosperity and opportunities for all.
Reform Area
5.1 CREDIT INFRASTRUCTURE FRAMEWORK
Achieved
2018 – 2023
Insolvency Law and Bylaws enacted
Secured Lending Law and Bylaws enacted
Venture Capital Law and Bylaws enacted
Public Financial Management Strategy endorsed
Financial Inclusion (2018 – 2020) Strategy endorsed
Financial Literacy program for MSMEs launched
Insolvency Instructions enacted
Insolvency regulations reviewed
Digital insolvency registration system launched
Financial Inclusion Strategy (2023 – 2028) launched
Reform Area
5.2 ACCESSIBILITY TO SOURCES OF FINANCING
Achieved
2018 – 2023
Banking Law amendments enacted
JLGC further capitalized, to support trade financing, and board restructured with independent directors
DFS policy framework developed
Secured Transaction Bylaw enacted
Green Bonds Guideline issued
Financing Companies Bylaw enacted
In Progress
2024
National Green Taxonomy developed
Reform Area
5.3 CAPITAL MARKETS
Achieved
2018 – 2023
Marketing and Sale of Foreign Securities instructions issued
Amended Corporate Governance for Public and Private Shareholding Companies Registered Securities Commission instructions issued
Amended Licensing and Accreditation of Financial Services at Jordan Securities Commission legislations issued
In Progress
2024
Capital Adequacy and Solvency Criteria of Financial Services Companies legislations issued
Market based lending, borrowing and short selling mechanism enacted
Amended Regulating Trading in Foreign Stock Exchanges instructions issued
Duties of Directors of Financial Services Companies instructions issued
Amended Capital Adequacy and Solvency Criteria of Financial Services Companies instructions issued
New Securities Law and bylaws enacted
Mutual Investment Companies legislations issued
Public Acquisition Offer legislations issued
Control and Supervision Over public Shareholding Companies and Private Shareholding Companies with Securities Listed in the Financial Market legislations issued
Amended Licensing, and Accreditation of Financial Services and its Regulation instructions issued
Amended Disclosure of Issuing Companies, Accounting and Auditing Standards instructions issued
Disclosure of Inside Information and Prevention of Insider Dealing instructions issued
Duties of Licensee and Accredited Person instructions issued
Short-Selling Instructions issued
Exchange Traded Funds instructions issued
Issuance and Registration of Securities instructions issued
Amended Share Repurchase by Public Shareholding Companies instructions issued
Corporate governance Instructions for registered public and private shareholding companies amended
Line Agencies
