Latest news with #AmmanChamberofIndustry
Jordan News
13-07-2025
- Business
- Jordan News
Jordan Encourages Digital Payments as an Alternative to Cheques - Jordan News
Jordan Encourages Digital Payments as an Alternative to Cheques Minister of Justice Dr. Bassam Talhouni stated that the recent amendments to the Penal Code and the Enforcement Law are part of an integrated reform vision aimed at balancing the protection of rights with the creation of a fair legal environment that supports economic and social stability. اضافة اعلان Speaking at a panel discussion organized by the Amman Chamber of Industry on Saturday, titled "Lifting Criminal Protection from Cheques," Talhouni affirmed the government's commitment to supporting the private sector by providing a balanced legislative framework and legal tools that ensure rights are upheld without excessive complexity or hardship. 'We want to assure the private sector that the legal protection tools are available,' he said, emphasizing that the amendments aim to restore confidence in commercial dealings without imposing unjustified burdens or risks. Talhouni noted that a minimum of six months is needed to assess the real impact of these amendments on individuals and businesses, highlighting the importance of dialogue between the public and private sectors when discussing how legislation affects real-world practices. He emphasized that the amendments were not arbitrary but stemmed from extensive studies and consultations with experts, and were a response to growing misuse of debt instruments and practices that undermined trust in commercial transactions. The changes aim to safeguard creditor rights without compromising human dignity or basic livelihoods. Talhouni also referred to the government's broader legal reform efforts, including amendments to the Enforcement Law and the Personal Data Protection Law, alongside digital innovations such as creditworthiness assessment apps that help parties make informed financial commitments. Engineer Fathi Jaghbir, President of both the Jordan and Amman Chambers of Industry, said the chambers had worked since the lifting of criminal protection from cheques to help industrial companies adapt to the legal shift, providing suggested measures tailored to each business sector. He stressed the chamber's efforts to protect financial rights in trade and contract transactions and announced a forthcoming position paper with recommendations to protect cheque users' rights, to be submitted to the Ministry of Justice. The session, moderated by Dr. Eyad Abu Haltam (Amman Chamber of Industry), included participation from: Judge Waleed Kanakriyah, Secretary General of the Ministry of Justice Adnan Naji, Director General of the Jordan Loan Guarantee Corporation Dr. Maher Mahrouq, Director General of the Association of Banks Ahmad Al-Amoudi, Director General of CRIF Jordan Moataz Abu Zanad, Executive Director of the Supervision Department for Finance and Credit Information Companies Key Recommendations and Takeaways: Participants called for: Enhancing civil debt collection systems Improving enforcement mechanisms Encouraging digital payments as an alternative to cheques Using credit scoring and reports to assess a client's repayment ability Modernizing insolvency laws for individuals and companies Promoting negotiation and arbitration tools in financial disputes Engaging the insurance sector to cover default risks They noted that positive impacts of removing criminal protection from cheques include: Improved liquidity and cash flow management Greater reliance on alternative financing tools Reduction of chain-reaction defaults in postdated sales Decreased misuse of cheques Development of modern collection and guarantee mechanisms However, negative consequences include: Difficulty for sectors reliant on postdated sales due to liquidity constraints Higher risk of non-payment among cheque-dependent companies Declining trust in cheques as a means of payment Lack of swift legal enforcement mechanisms to compel repayment Participants stressed the urgent need to: Promote credit evaluations through credit reporting systems Reform the Enforcement Law to introduce a comprehensive non-custodial framework Expand the data sources available to credit information companies Draft civil insolvency legislation for individuals The session concluded with a shared call for coordinated legal and economic reforms to support financial stability and modern commercial practices in Jordan.
Shafaq News
07-07-2025
- Business
- Shafaq News
Iraq ranks 3rd largest market for Amman exports in 2025
Shafaq News – Baghdad/Amman Iraq was the third-largest importer of goods from Amman's industrial sector during the first half of 2025, according to data released Monday by the Amman Chamber of Industry. The chamber reported that Amman's total exports for the first six months of the year reached 3.467B Jordanian dinars (about $5B), up from 3.086B dinars (about $4.5B) during the same period in 2024. Four countries—India, the United States, Saudi Arabia, and Iraq—accounted for more than half of all exports, with a combined value of 1.988B dinars (about $3B), the report stated. The United States was the leading destination, with exports valued at 586M dinars (about $830M), followed by Iraq with 451M dinars (about $630M), and Saudi Arabia with 418M dinars (about $590M).
Jordan News
05-07-2025
- Business
- Jordan News
Amman Chamber of Industry Exports Surpass 3 Billion Dinars in First Half of 2025 - Jordan News
Amman Chamber of Industry Exports Surpass 3 Billion Dinars in First Half of 2025 Exports from the Amman Chamber of Industry exceeded the 3-billion-dinar mark during the first half of this year, driven by the high quality and competitiveness of its products in international markets. اضافة اعلان According to periodic statistical data issued by the Chamber, the exports rose by 12.3% during the first half of 2025 compared to the same period in 2024, based on certificates of origin issued by the Chamber. The data obtained by the Jordan News Agency (Petra) shows that exports reached JD 3.467 billion in the first half of 2025, compared to JD 3.086 billion during the same period last year. Seven sub-sectors recorded an increase in exports, with growth rates ranging from 1% in plastic and rubber industries to 73.4% in construction materials. Conversely, exports from three other sectors declined: engineering, electrical, and IT industries by 1.7%, packaging and paper/cardboard/stationery by 7.2%, and wood and furniture by 13.6%. Four countries—India, the United States, Saudi Arabia, and Iraq—accounted for more than half of the Chamber's total exports during the first half of the year, with a combined value of JD 1.988 billion. Exports to India increased by 27%, reaching approximately JD 533 million compared to JD 419 million in the same period last year. Exports to Saudi Arabia rose by 7.4%, totaling about JD 418 million, up from JD 388 million. Exports to Iraq increased by 2.6%, reaching around JD 451 million, compared to JD 439 million. Meanwhile, exports to the United States declined by 7.8%, totaling JD 586 million, down from JD 635 million, yet the U.S. remained among the top importers of Amman's industrial exports. The data also revealed a 366.3% surge in exports to Syria, reaching JD 154 million, up from JD 33 million in the first half of 2024. Exports to Palestine rose by 15.1%, amounting to JD 82 million, compared to JD 71 million last year. In terms of geographic distribution during the first half of 2025: Arab countries led with JD 1.698 billion, Non-Arab Asian countries followed with JD 738 million, North American countries JD 609 million. Exports to other regions were as follows: EU countries: JD 193 million Non-EU European countries: JD 94 million African countries: JD 85 million South American countries: JD 52 million Other countries: JD 30 million Exports were distributed across various industrial sectors: Mining industries: JD 809 million Chemical and cosmetics industries: JD 617 million Engineering, electrical, and IT: JD 508 million Food, agricultural, and livestock industries: JD 485 million Medical and healthcare supplies: JD 360 million Leather and garments: JD 304 million Plastic and rubber industries: JD 152 million Packaging, paper, and stationery: JD 122 million Construction materials: JD 102 million Wood and furniture: JD 9 million Founded in 1962, the Amman Chamber of Industry currently includes 8,600 industrial enterprises, employing 159,000 workers with a total capital of approximately JD 5 billion. — (Petra)
Shafaq News
08-06-2025
- Business
- Shafaq News
Iraq third-largest importer of Jordanian industries in 5 months
Shafaq News / Iraq ranked as the third-largest importer of goods from the Amman Chamber of Industry during the first five months of 2025, the entity announced on Sunday. In a statement, it reported that total exports reached 2.849 billion Jordanian dinars ($4.18 billion) during that period, up from 2.540 billion dinars ($3.6 billion) in the same timeframe of 2024. India, the United States, Saudi Arabia, and Iraq accounted for more than half of the chamber's exports during this period, with a combined value of 1.635 billion dinars ($2.3 billion). Exports to the United States totaled 507 million dinars, followed by India at 395 million, Iraq at 381 million, and Saudi Arabia at 352 million. According to the report's geographical distribution, Arab countries led with imports amounting to 1.396 billion dinars during the first quarter of 2025, followed by non-Arab Asian countries with 566 million dinars, and North American countries with 528 million dinars. Earlier, the volume of trade exchange between Jordan and Iraq increased in 2023 to reach 832 million dinars, about ($1.2 billion), compared to 772 million in 2022 ($1.1 billion). The economic ties between Baghdad and Amman include several fields, mainly energy, industry, and tourism.
Jordan News
03-06-2025
- Business
- Jordan News
JD 2.849 Billion – Amman's Industrial Exports in First Five Months of 2025 - Jordan News
Amman Chamber of Industry exports continued their upward momentum in 2025, reflecting the resilience of Jordanian industry in overcoming challenges and expanding its presence in export markets. اضافة اعلان During the first five months of 2025, the Chamber's exports grew by 12.2% compared to the same period in 2024, reaching JD 2.849 billion, up from JD 2.540 billion. Sector Performance Most industrial sectors experienced export growth during this period, with the exception of: Wood, furniture: ↓ 14% Packaging, paper, office supplies: ↓ 9.2% On the other hand, exports of eight other sub-sectors increased, led by: Construction materials: ↑ 86.7% (highest) Engineering, electrical, IT: ↑ 0.5% (lowest) Top Export Destinations India, the United States, Saudi Arabia, and Iraq accounted for over JD 1.635 billion, more than half of the total exports. India: ↑ 14.7% to JD 395 million Saudi Arabia: ↑ 7.2% to JD 352 million Iraq: ↑ 4.8% to JD 381 million United States: ↓ 5.1% to JD 507 million (still the top importer) Notably, exports to: Syria: ↑ 302.1% to JD 114 million (from JD 28 million in 2024) Palestine: ↑ 21% to JD 69 million Geographic Distribution Arab countries: JD 1.396 billion Non-Arab Asian countries: JD 566 million North America: JD 528 million European Union: JD 148 million Africa: JD 82 million Non-EU Europe: JD 79 million South America: JD 20 million Other countries: JD 27 million Sector Breakdown (First Five Months of 2025) Mining industries: JD 610 million Chemicals & cosmetics: JD 532 million Engineering, electrical & IT: JD 444 million Food, agriculture & livestock: JD 417 million Medical & healthcare: JD 273 million Textiles & leather: JD 247 million Plastics & rubber: JD 130 million Packaging & office supplies: JD 102 million Construction materials: JD 87 million Wood & furniture: JD 8 million Founded in 1962, the Amman Chamber of Industry currently includes 8,600 industrial establishments, employing around 159,000 workers, with total capital reaching JD 5 billion.
