Khaberni - In a move to enable institutions to sustain their services to the citizens, the Cabinet decided to approve a decision by the Greater Amman Municipality committee that includes the Municipality's transition to Islamic Sukuk in phases, with a value of up to a billion dinars in different installments, with an initial package of 400 million dinars during this year.
This decision represents an important step as it utilizes new financial instruments that will contribute to restructuring the Municipality’s budget, and converting it to rely on long-term Islamic Sukuk at lower costs; thus reducing the financial burdens on the Municipality and enabling it to sustain and enhance its services to the citizens.
This step is considered a strategic transformation that provides the necessary liquidity for the Municipality for executing capital projects, especially in the areas of infrastructure and transport, thereby directing financing towards capital projects with developmental or revenue returns, which enables the enhancement of services provided to the citizens.
