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Jordan to issue JOD34m sukuk

Jordan to issue JOD34m sukuk
The Central Bank of Jordan - (Photo Credit: Arabianeye-Reuters)

Mubasher: The Central Bank of Jordan (CBJ) announced on Wednesday it will issue on 17 October its first issuance of Islamic sukuk (bonds) worth JOD 34 million ($48 million) set to mature on 17 October 2021.

The issuance will be used to fund governmental projects through a government-owned company, the bank said in a statement.

The sukuk's profit rate is expected by the bank to be at 3%, the Ijara-structured instrument will be repaid in 10 equal instalments on 17 April and 17 October of every year until maturity.