Jordanian PM attends ceremony to launch Islamic finance bonds

GMT 19:43 2014 Thursday ,24 July

Arab Today, arab today Jordanian PM attends ceremony to launch Islamic finance bonds

Abdullah Ensour
Amman - Petra

Prime Minister Abdullah Ensour attended on Thursday a ceremony to launch Islamic Sukuk (finance bonds), organised by the national capital market institutions at the Financial Securities Commission.
Ensour said that the legislation regarding Islamic sukuk is a distinctive feature in the Kingdom's financial and economic history, adding that with these legislation, the Kingdom completes all aspects of Islamic financial work.
"We are now pleased to announce that the three capital market institutions including the Financial Securities Commission, the Amman Stock Exchange and the Securities Depository Center are now ready to receive applications regarding Islamic Sukuk issued by the public and private sectors," he added.
The prime minister noted that many factors led to an increase in consumer spending and a decline in saving and investment, adding that Sukuk came as an effective tool that conforms with our religion and traditions and provides a new method for saving that enables each citizen to be a partner and investor in public and private sectors income generating income.
Jordan, Ensour said, was one of the first Arab countries to establish Islamic banks that work in line with Islamic rule, pointing to the Kingdom's efforts to transform its economy into a knowledge based economy.
He voiced hope that the issuance of Islamic Sukuk will contribute towards supporting the economy and dealing with the problems of poverty and unemployment.
Chairman of the Financial Securities Commission Mohammad Saleh Hourani said the world of finance and economy is witnessing an accelerated development and an increasing interest in Islamic economy in general and Islamic Sukuk in particular.
Islamic finance has become one of the most important means of finance in the world as it proved its ability to absorb financial and economic crises and address them.
During the ceremony, the prime minister honored the team that contributed to drafting the legislation.

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