AMMAN — The Jordan Securities Commission’s Board of Commissioners has approved the registration and issuance of Islamic financing sukuk by Al Kawthar Financial Leasing Company, with a total value of JD15 million, to be offered for public subscription in tranches determined by the issuing company.

 

The decision is part of efforts to broaden financing options through a dedicated project aimed at enabling the issuance of Islamic sukuk in the Jordanian market, in line with the second executive programme of the Economic Modernisation Vision for 2026–2029, the Jordan News Agency, Petra, reported.

 

As part of the government’s approach to developing financing tools and products for companies, the financial market is now witnessing the practical activation of the Islamic sukuk framework as a new financing and investment instrument.

 

The step follows the completion of the necessary Sharia and regulatory framework, including the establishment of the Central Sharia Supervisory Board under the Islamic Financing Sukuk Law, whose membership was approved by a Cabinet decision last November. This paved the way for implementing this Sharia-compliant financing instrument in the Kingdom.

 

The development of the Islamic sukuk market is seen as a key step in keeping pace with global trends in Islamic finance, providing alternative Sharia-compliant financing instruments, expanding options for the private sector, and enhancing the attractiveness and competitiveness of Jordan’s financial market at both regional and Islamic levels, Petra ,reproted.