Jordan issues local currency sukuk in boon for banks

Top Stories
Most Popular

Panorama

Bali flights cancelled due to dangerous volcanic ash

Melania Trump declines to meet with Jill Biden at White House

Dana Reserve: Where Three Ecosystems Meet in Jordan's Wilderness

Japan launches world's first wooden satellite into space

Astronomers observe black hole that may have formed gently

The ten deadliest weather events of the last 20 years and how they were fuelled by climate change

What is the story of the Jordan Staircase in one of the most important palaces in Russia?

Biden and his wife celebrate their last Halloween at the White House

NASA identifies potential landing sites for historic manned mission to the moon

Telescope with world’s largest digital camera will be a ‘game-changer’ for astronomy

Home Business Jordan issues local currency sukuk in boon for banks 18-10-2016 05:17 AM Ammon News - AMMONNEWS - Jordan’s government has raised 34 million dinars ($47.9 million) in its first issue of a local currency sukuk for its own funding purposes, a deal that will benefit the country’s Islamic banks, the government said on Monday. The Islamic bonds, which use a common sale and leaseback format known as ijara, have a tenor of five years and an expected profit rate of 3.01 per cent. Jordanian finance minister Omar Malhas said the issue, which was more than three times subscribed, priced inside the country’s conventional bond curve — a sign of strong demand. “The sovereign issuance is of great significance for the kingdom’s four full-fledged Islamic banks, because it will give them a badly needed tool to manage their excess liquidity, estimated to be 1.4 billion dinars,” he said in a statement.

Home Business

Jordan issues local currency sukuk in boon for banks

18-10-2016 05:17 AM

Ammon News - AMMONNEWS - Jordan’s government has raised 34 million dinars ($47.9 million) in its first issue of a local currency sukuk for its own funding purposes, a deal that will benefit the country’s Islamic banks, the government said on Monday.

The Islamic bonds, which use a common sale and leaseback format known as ijara, have a tenor of five years and an expected profit rate of 3.01 per cent. Jordanian finance minister Omar Malhas said the issue, which was more than three times subscribed, priced inside the country’s conventional bond curve — a sign of strong demand.

“The sovereign issuance is of great significance for the kingdom’s four full-fledged Islamic banks, because it will give them a badly needed tool to manage their excess liquidity, estimated to be 1.4 billion dinars,” he said in a statement.

no comments

Notice

All comments are reviewed and posted only if approved.
Ammon News reserves the right to delete any comment at any time, and for any reason, and will not publish any comment containing offense or deviating from the subject at hand, or to include the names of any personalities or to stir up sectarian, sectarian or racial strife, hoping to adhere to a high level of the comments as they express The extent of the progress and culture of Ammon News' visitors, noting that the comments are expressed only by the owners.

name : *
email
	show email
comment : *
Verification code :	Refresh write code :