- Brief about Electronic Disclosure System XBRL and its importance
On December 20,2020, the Amman Stock Exchange (ASE) and the Jordan Securities Commission (JSC) have launched e-disclosure system using the eXtensible Business Reporting Language (XBRL) as an electronic platform for companies to submit their financial and non-financial disclosures, publishing them in several formats and exchanging them electronically.
The e-disclosure system project is deemed a vital and important project that serves all stakeholders in the financial market, where this system is a qualitative leap in the disclosure mechanism for disclosing financial and non-financial companies’ information, and led to develop the way of obtaining information and disclosures in both Arabic and English languages, thus raising the level of disclosure and transparency in the market.
- The most important data that is sent through e-disclosure system XBRL
- General Rules of using XBRL system
The ASE obliged companies using the system with a set of general rules that organize the process of using the system. These rules can be viewed through bellow link:
General Rules of using XBRL system
- How to access the financial reports in XBRL format
In order to view the companies’ financial reports in XBRL format, the visitor of the website needs to click on “disclosures” button that appears on the home page of the ASE website, and choose the category he wants (annual reports, semiannual reports, quarterly reports), the financial data will be displayed in three formats (PDF, EXCEL, XBRL). Where the interested person can choose the format that suits him.
- XBRl Brochure
In order to increase the awareness of the companies and all other related parties of the ''Electronic Disclosure System'' XBRL and its importance, the ASE has issued in 2018 a brochure on ''Electronic Disclosure Using XBRL Language '', for those who are interested in "The Electronic Disclosure System using XBRL" can view it through the below link:
- Login to the system
Companies concerned can access to the XBRL platform through the link: www.xbrljordan.jo, and register your username and password.