Khaberni - Under the patronage of His Excellency Dr. Adel Sharkas, the Governor of the Central Bank of Jordan, Al-Kawthar for Financial Leasing launched the first issuance of Islamic Mudarabah Sukuk for the private sector in the Kingdom, after completing all official approvals, with plans to list the sukuk for trading on the Amman Stock Exchange.
His Excellency Dr. Adel Sharkas confirmed that this issuance constitutes an important national achievement reflecting the ongoing development of the Islamic finance system in Jordan. It demonstrates the readiness of the legislative and regulatory environment to support advanced Islamic financing tools from the private sector, enhancing investor confidence and contributing to the deepening of the capital market and financing of long-term developmental projects.
For his part, the Chairman of the Arab Jordan Investment Bank, the owning bank of Al-Kawthar, Mr. Hani Al-Qadi, said, "This issuance is a pivotal milestone in the journey of the Jordanian financial sector, a strategic step that reflects the maturity of our investment environment, its capacity for innovation, and its response to the requirements of sustainable development and Sharia-compliant financing."
In turn, the Chairman of the Securities Authority, His Excellency Mr. Imad Abu Haltam, stressed that the issuance of the first private sector Islamic Mudarabah Sukuk reflects the evolution of financing tools and the readiness of the Jordanian capital market to accommodate modern financial products compliant with Islamic Sharia law.
In the same context, the General Manager of Al-Kawthar for Financial Leasing, Mr. Jamal Freiz, explained that this issuance embodies the company's commitment to providing innovative Islamic financing solutions that support economic growth and enhance Jordan's position as a leading center for Islamic finance in the region.
The nominal value of the sukuk is 15 million Jordanian Dinars, to be issued in multiple tranches, with an expected return for the first tranche of 6%.
