AMMAN — The Ministry of Government Communication hosts on Tuesday Amman Stock Exchange (ASE) CEO Mazen Wathaifi in the Government Communication Forum to discuss the "upward" trajectory of the Jordanian financial market, and to highlight the government measures a direct impact on the stock market's performance.

 

Secretary General of the Ministry of Government Communication, Zaid Nawaisah said ASE is witnessing "successive" developments and achievements that reflect the state's commitment to the national vision for a more competitive and sustainable economy.

 

Noting that this movement is in line with the executive programme of the economic modernization vision (EMV), which focuses on stimulating investment and enhancing the efficiency and transparency of financial markets.

 

During the Government Communication Forum, Wathaifi said that the file of new Initial Public Offerings (IPOs) is being "closely" followed up at the highest levels, which is a continuous coordination between the ASE, the Securities Commission and the relevant official authorities.

 

He said that experience has proven that the "recovery" of the secondary market reflects positively on the primary market, as the "strong" performance of listed shares and investors' confidence in "fair" pricing mechanisms encourage more companies to public offering.

 

Regulations

 

Wathaifi pointed out that the establishment of mutual funds and the reduction of trading commissions and tax exemptions approved by the government have contributed to enhancing liquidity and raising confidence levels among local and foreign investors.

 

He said: "What we see today in the improvement in trading figures and liquidity is the result of realistic measures, and not promises or future plans, as the daily follow-up by the concerned authorities confirms the seriousness of the state in developing the capital market."

 

Wathifi added that he is expecting that the next phase will witness increased activity in public offerings with the improvement of the investment climate and investors' confidence in the national economy.

 

International Standards

 

ASE continues to develop its technical and legislative structure in accordance with international best practices, as it applies the standards of the International Organization of Securities Commissions (IOSCO), according to Wathaifi.

 

It also applies the standards of the International Financial Reporting Standards (IFRS), as well as the principles of corporate governance issued by the Organization for Economic Co-operation and Development (OECD), he added.

 

In another aspect, Wathaifi stressed that ASE has issued special instructions obliging major companies listed in the ASE20 index to prepare sustainability reports covering environmental, social and governance (ESG) aspects.

 

He pointed out that the ASE was the first in the Middle East and the fifth in the world to launch the Climate Information Disclosure Initiative in cooperation with the International Finance Corporation (IFC).

 

Wathaifi stressed that the complete digital transformation marked a "turning point" in market efficiency, as the stock exchange had adopted an integrated electronic system including online trading, a smart disclosure system in XBRL language, and smart phone applications that allow "real-time" market tracking from anywhere in the world.

 

He noted that the stock exchange recently obtained ISO 9001:2015 certifications for its quality management system.

 

Awareness

 

Wathaifi revealed awareness programmes launched by the stock exchange in collaboration with Jordanian universities to promote financial literacy among young people.

 

This is through the creation of trading simulation rooms on university campuses and the organisation of lectures and training programmes via the "Investor Culture" electronic platform, which provides interactive content on responsible investment and market mechanisms.

 

Performance

 

Regarding the market's financial performance, Wathaifi said that the ASE recorded its best performance since 2008, with the All Share Price Index (ASEGI) rising 37.5 per cent since the beginning of the year to reach 3,423 points.

 

The ASE20 index for large companies rose by about 40 per cent, and the index total return rose by 50.6 per cent.

 

He explained that these results reflect the strength of the national economy, which achieved a growth rate of 2.8 per cent in the second quarter of 2025.