Jordan to toughen banks’ corporate governance rules

May 10, 2014 10:54 am

Jordan’s central bank has proposed new banking corporate governance instructions and requested feedback from all concerned parties, Jordan Times has reported. “The instructions aim at ensuring that board members possess experience and competency besides guaranteeing that there is no conflict of interest,” said the central bank. Under the new instructions, boards of directors are fully responsible for the financial safety and soundness of the banks, as well as their smooth and trouble-free operations. The boards also carry full responsibility over reliability and accountability to safeguard the rights of all stakeholders.