Amman, Oct. 28 (Petra) -- The European Chamber of Commerce in Jordan (EuroCham) organized a seminar on Monday evening titled "Family Business Governance: Principles and Practical Applications," highlighting the pivotal role of governance frameworks in ensuring the sustainability and institutional growth of family-owned enterprises in Jordan.

In a statement issued Tuesday, EuroCham said the event aimed to enhance awareness of governance practices among family businesses, which constitute a key driver of Jordan’s economy, contributing significantly to employment generation and long-term business continuity.

Opening the seminar, EuroCham President Ali Murad underscored the importance of family enterprises as foundations of the national economy, noting their agility and resilience in navigating market fluctuations.

He stressed that implementing effective governance systems supports a structured transfer of ownership and management across generations, and mitigates challenges associated with expansion and transformation into public shareholding companies.

Murad affirmed that EuroCham, recently established in Jordan, will play an active role in supporting family businesses’ transition toward institutionalization, through training initiatives, specialized workshops, and partnerships designed to promote modern administrative and financial governance standards.

He added that the chamber seeks to forge partnerships with European institutions to exchange expertise and adopt best international practices in family business governance, thereby strengthening competitiveness and long-term sustainability.

Wael Al-Armouti, Controller General of Companies, delivered a detailed presentation on the legal and regulatory environment governing corporate structures in Jordan. He highlighted the necessity of a clear and robust legislative framework that facilitates the practical implementation of governance principles.

Al-Armouti emphasized that family businesses form a strategic cornerstone of the national economy, and that modernizing their legal and administrative systems has become essential amid global economic transformation. He described the adoption of governance principles as a strategic imperative, enabling companies to progress toward greater maturity in management, financing, and decision-making.

Moderated by Mohammad Samadi, a EuroCham board member, the seminar also featured insights into ongoing reforms. Al-Armouti revealed that the Companies Control Department has completed a family business governance project, with a comprehensive governance guide for family enterprises to be launched following consultations with the private sector.

He noted that the department is continuously updating relevant legislation to align with international best practices, aiming to help companies improve transparency, institutional resilience, and intergenerational continuity.

Concluding the event, Basel Marji, founding partner of Izzat Marji Group and a EuroCham member, presented a case study on implementing governance frameworks within family businesses. His presentation detailed practical steps and procedures for successful governance adoption, offering participants real-world insights into overcoming common challenges and achieving sustainable organizational transformation.

//Petr// RZ

28/10/2025 11:48:05