Islamic sukuk issuance hits 800 million dinars
The Jordanian government has announced the issuance of Islamic bonds worth 400 million dinars in favor of Amman Municipality, based on a leasehold contract ending with ownership, with an annual return of 5.5% over a period of 5 years. This is the first issuance of its kind for public institutions in the Kingdom, aimed at reducing financing costs and improving public debt management. It is expected to generate savings of approximately 140 million dinars over the 10-year loan period. This step is part of the government's strategy to diversify debt management tools, aligning with objectives of economic modernization and enhancing financial efficiency, while utilizing Islamic financing instruments to face financial challenges and achieve development goals.
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