Jordanian stock market suffering from liquidity shortage - Wathaifi

(File photo: Jordan News)
AMMAN — Mazen Wathaifi, the CEO of the Amman Stock Exchange (ASE), stated on Saturday that the market is suffering from a liquidity shortage due to rising interest rates. He indicated that investors "prefer" to deposit their funds in banks rather than in the stock exchange.اضافة اعلان

During a dialogue session about ASE at the 8th Conference for Jordanian Businessmen and Investors Abroad, Wathaifi mentioned that company profits have "declined" in the first half of the current year compared to the same period last year, Ammon News reported.

Financial data from listed companies, observed by the Amman Stock Exchange earlier, showed a net after-tax profit of approximately JD1.071 billion in the first half of the current year, compared to JD1.27 billion in the same period last year, marking a decrease of 15.7 percent.

Wathaifi also called for abolishing fees imposed on stock trading operations and for including government-owned companies in the exchange. He noted that there is an intention to reconsider taxes imposed on investment funds.

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