The Jordan Securities Commission approved Al-Kawthar Leasing Company’s Islamic Mudaraba sukuk issuance, described as the first private-sector Mudaraba sukuk offering in the Kingdom and a new negotiable instrument for Jordan’s capital market. The Commission’s chair linked the move to the Economic Modernization Vision’s executive programme, which prioritises developing Islamic sukuk issuances as part of its 2026–2029 second phase. The issuance totals JOD 15 million and is intended to broaden corporate funding options while providing investors an additional avenue alongside equities, bonds and mutual funds. The chair noted that Sharia-compliant capital market instruments can be structured using a range of contracts, including lease-to-own, Murabaha and Istisna, and credited the Central Bank, the Central Sharia Supervisory Board, the Board of Commissioners of Islamic Finance Sukuk and the Securities Commission team for work on the transaction. Further sukuk offerings were flagged as expected in the coming periods, with the issuance presented as reflecting market readiness and the development of Jordan’s legislative and regulatory framework for Islamic finance.
Jordan Securities Commission 2026-01-28
Jordan Securities Commission approves Al-Kawthar Leasing’s first private-sector Mudaraba sukuk issuance worth JOD 15 million
The Jordan Securities Commission approved Al-Kawthar Leasing Company’s JOD 15 million Islamic Mudaraba sukuk issuance, marking the first private-sector Mudaraba sukuk offering in Jordan and aligning with the Economic Modernization Vision’s 2026–2029 phase. This issuance aims to expand corporate funding options and reflects the development of Jordan’s legislative and regulatory framework for Islamic finance.