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Jordan's Financial Laws: An Introduction to an Arab Model in Securities Regulation*

Jordan's Financial Laws: An Introduction to an Arab Model in Securities Regulation* 1 PREFACE This article looks briefly at Jordan's financial laws as an Arab model in securities reg- ulation. Special attention will be given to its securities laws as Jordan is viewed as one of the first Arab countries to have issued a specific securities Act. In order to give a fuller picture, Jordan's banking, company and investment regulations will be briefly examined. This article will not touch directly on issues relating to shari`a law in regard to general concepts of finance and other related matters. Much scholarly work has already been done on the position of Islam vis-a-vis modem issues like bank- ing and the concept of riba or interest,l insurance,2 contract law,3 commercial litiga- tion,4 etc. In particular, the article will present a general perspective on securities regulation, account for the Arab world's recent interest in its securities markets; and advance a critique of the Jordanian definition of the term "financial security" after having briefly looked at the American and English definitions of the term. 2 GENERAL PERSPECTIVE Although Arab countries did not participate in the 1980s intense global fmancial deregulation, it is highly apt that they should now stress tackling their financial services regimes and securities http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Yearbook of Islamic and Middle Eastern Law Online Brill

Jordan's Financial Laws: An Introduction to an Arab Model in Securities Regulation*

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Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
eISSN
2211-2987
DOI
10.1163/221129898X00044
Publisher site
See Article on Publisher Site

Abstract

1 PREFACE This article looks briefly at Jordan's financial laws as an Arab model in securities reg- ulation. Special attention will be given to its securities laws as Jordan is viewed as one of the first Arab countries to have issued a specific securities Act. In order to give a fuller picture, Jordan's banking, company and investment regulations will be briefly examined. This article will not touch directly on issues relating to shari`a law in regard to general concepts of finance and other related matters. Much scholarly work has already been done on the position of Islam vis-a-vis modem issues like bank- ing and the concept of riba or interest,l insurance,2 contract law,3 commercial litiga- tion,4 etc. In particular, the article will present a general perspective on securities regulation, account for the Arab world's recent interest in its securities markets; and advance a critique of the Jordanian definition of the term "financial security" after having briefly looked at the American and English definitions of the term. 2 GENERAL PERSPECTIVE Although Arab countries did not participate in the 1980s intense global fmancial deregulation, it is highly apt that they should now stress tackling their financial services regimes and securities

Journal

Yearbook of Islamic and Middle Eastern Law OnlineBrill

Published: Jan 1, 1997

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