Amman Issues Landmark Islamic Sukuk
The government announced that Amman Municipality will issue the country's first Islamic financing sukuk worth 400 million Dinars. This will be conducted through an Ijarah (leasing) contract ending with ownership, with an annual return of 5.5% over five years. The goal of this issuance is to improve debt management and reduce costs, with an expected savings of approximately 140 million Dinars for Amman Municipality over 10 years. This is an unprecedented step that enhances Jordan's leadership in Islamic finance. Additionally, government plans include expanding the use of Islamic financing tools to ease the debt burden and strengthen financial efficiency.
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