IslamicFinance.de

Jordan said last month it was going to issue its first ever sovereign sukuk soon. The long anticipated issuance is expected to rake in some JD400 million to finance real estate projects. The sovereign issuance is expected to be a dinar-dominated offering. Though Jordan passed the Islamic Finance Sukuk Law in 2012, allowing both public and private entities to issue sukuk, it was only in April that the government vetted the Islamic Corporation for the Development of the Private Sector to support the country’s maiden security bonds issuance. Only one corporate sukuk had been issued in the Kingdom before: a seven-year JD85 million security launched by Al Rahji Cement in 2011.