Al-Armouti: Preparation of a Procedural Guide for Family Businesses Completed Ahead of Its Upcoming Launch
Companies Controller General Dr. Wael Al-Armouti participated last Wednesday in a dialogue session organized by the Jordanian Businessmen Association on “Family Business Governance,” aimed at highlighting the role of corporate governance in strengthening business sustainability and ensuring smooth succession across generations.
During a session titled “The Role of Jordanian Legislation in Supporting Family Business Governance and Success Stories of Family Businesses,” Al-Armouti emphasized the importance of developing legislation governing family businesses in line with economic developments and in a manner that enhances their sustainability.
He noted that the Companies Control Department has completed the preparation of a procedural guide for family businesses, paving the way for its launch in the coming period. He also highlighted the Department’s ongoing efforts to develop the legal and regulatory frameworks governing ownership and partnerships, as well as mechanisms for resolving disputes among partners.
Al-Armouti explained that transitioning from individual-based operations to institutional management is among the key challenges facing family businesses. He stressed the importance of separating family relationships from business interests, delegating authority, and engaging specialized professionals to ensure business continuity across generations.
The session also featured contributions from several Association members and experts, who underscored the importance of separating ownership from executive management, strengthening the role of independent boards of directors, promoting transparency, and developing clear succession plans to facilitate the transfer of leadership between generations.
