Jordan commit to exploring public central registers of company beneficial ownership information.
Themes: Beneficial ownership
Last updated: December 2020
Concrete: Somewhat Concrete | New: Not New | Ambitious: Somewhat Ambitious
Approval of the amendment to the Anti-Corruption Commission Law
Draft bill transferring the “financial disclosure” from “justice” to the “integrity commission”
Corporate Control Department
Company registration application
Anti-Money Laundering and Terrorist Financing Law No. 46 of 2007 and its amendments
Instructions to combat money laundering and terrorist financing in securities activities
Trade Law No. 12 of 1966
Jordan: Anti-corruption law praised but questions remain
More information - Jordan Pledge Tracker
Anti-money laundering and counter terrorist financing instructions for licensed real estate offices for the year 2018
Cancelling the publication of information related to the real beneficiary on the department’s website so that the information is preserved in the department’s records and with the company’s records. A sign has been placed on the site stating that any information about the real beneficiary about the registered companies is kept with the Companies Control Department and the company’s own records and management, as well as any information related to the beneficiary. The real companies subject to the license are available at those authorities and the regulatory authorities subject to them.
The supervisory bodies, including the Integrity and Anti-Corruption Commission, are connected electronically with the aim of facilitating the exchange of information between them and the establishment of a profile of persons involved in corruption cases, thus facilitating the identification of the persons who benefit from corruption crimes in real and not nominally.
The Integrity and Anti-Corruption Commission developed the (draft law of illicit financing), which is the legal framework that regulates the issue of financial disclosure and specifies the persons to be subjected to declared, and at the same time criminalizes illicit gain. In addition, fighting corruption and setting stricter penalties against the defaulters. Article 13 include penalties also include confiscation and a high fine. This project guarantees an effective contribution to determining the identity of the beneficial owner, as this project was completed and submitted to the Prime Ministry for presentation to the House of Representatives. It aims to reveal the final destination of the property and money resulting from Corruption, its recovery and the prevention of conflicts of interest, thus achieving the cornerstone of identifying the true utilitarian properties and identifying their beneficial owners.
Rasheed (TI-JO) in cooperation with JIACC & open ownership conducted training on the importance of beneficial ownership and its practices to civil servants, and a new cooperation is under preparation to review relevant legislation.
Updated: October 31, 2020
1. Anti-money laundering and counter terrorist financing law its’ Amendments No. (46) for the year 2007 identified the beneficial owner and mentioned the necessity of relevant government entities to do the maximum effort to identity the beneficial owner of the assets in articles 14 and 6 of the same law. 2. Instructions and regulations related to the Anti-money laundering and counter terrorist financing law. a. The Anti-money laundering and counter terrorist financing law instructions for Securities activities for the year 2010. b. Anti-money laundering and counter terrorist financing instructions for licensed real estate offices for the year 2018. c. Instructions Anti-money laundering and counter terrorist financing instructions of agencies providing postal services No. 2 of 2018. d. Jordanian Trade Law No. (12) For the year 1966, in which Article (11) stipulates that: “Anyone who advertises in newspapers, bulletins, or any other medium on the place that he established and opened to engage in commercial business is considered a merchant and if the trade does not take a profession familiar to him.” If a person trades under a pseudonym or disguised behind another person, then it is considered a merchant if it is considered the real merchant and the legal implications of this trait. e. Procedures taken by the Companies Control Department to identify and raise awareness beneficial ownership and beneficial owners. The Companies Control Department has a website with a list of national and international the companies operating in Jordan.
Peer reviewer: 1
Updated: April 30, 2020
The Companies' Control Department has added a special provision on beneficial ownership, reachable on the Companies' Inquiries platform via the Department's official website and to register a company the owner should sign a pledge ensuring that the owner is the real and beneficial owner of the company. The data available as of July 2019 that is displayed through the query portal on the companies’ control department’s website, is the registered owner name, nationality, share amount and nature of ownership.
Peer reviewer: 1
Updated: October 30, 2019
Rasheed Jordan have been undertaking a Key Performance Indicator report and will be published within the month. It will review the progress made on Jordan's anti-corruption commitments and is seen as a starting point of progress for the government.
Updated: May 30, 2019