Jordan Times
Sunday, March 14, 1999
Amman Bourse replaces AFM
AMMAN (J.T.) — WHEN THE stock exchange opens today (Sunday), after the new arrangement of a two-day holiday on Friday and Saturday, it will no longer be referred to as the Amman Financial Market (AFM) because as of March 11, the name has been changed to the Amman Bourse. The change of name is in line with the 1997 Securities Law which also established two related entities: The Jordan Securities Commission and the Depository and Transfer Centre.
The Amman Bourse was placed in the hands of the private sector represented by seven members who include three representatives of the 27 licensed brokerage firms, two from the commercial banks which established their own brokerage companies and two appointed by the Jordan Securities Commission (JSC).
Mohammed Bilbeisi, Dawood Qishtah and Walid Najjar were elected Thursday to represent the brokerage firms and Samir Jaradat and Hani Halawani were elected to represent the commercial banks. Abdul Rahman Touqan and Muflweh Aqel were appointed by the JSC. Meeting after the elections were completed, the members of the board elected Abdul Rahman Touqan to be chairman. Jalil Tarif who held the post of deputy general manager at the AFM was appointed executive director for the bourse.