ASE head highlights exchange's progress

Published November 14th, 2000 - 02:00 GMT

A two-day seminar hosted by the Middle East Securities Training Center and the UAE Securities Commission opened in Abu Dhabi on Sunday, a statement by the ASE said. During the seminar, Jalil Tarif, Amman Stock Exchange (ASE) CEO talked with representatives from financial markets in the Middle Eastern region.  

 

Tarif discussed the history of the Kingdom's capital market and the changes that it has witnessed during the last three years, in a speech titled, `The Jordanian Experience.' Looking towards the future of the ASE and the role it would play in the privatization process, Tarif focused on the need for cooperation between Middle East markets to establish a stronger, more effective economy.  

 

In addition, he spoke of the ASE's recent accomplishments including remote trading, which is expected to be completed by the end of this year, and the new intranet system for the dissemination of information.  

 

ASE participation at the seminar is a continuation of its efforts to inform countries around the world about Jordan's developing market and the steps it has adopted to reach international standards. ASE, a private sector, non-profit organization with legal and financial independence, is in charge of running the market.  

 

The ASE observes international standards of fair practice in the orderly transaction conduct of the market. With a capitalization of $5 billion, the ASE is one of the largest stock markets in the region that permits foreign investment. The exchange currently has 590,000 shareholders. Jordanian corporate and individual investors hold 52 percent of the shares, while foreign investors account for the rest. ― (Jordan Times)  

 

 

© 2000 Mena Report (www.menareport.com)

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