Chairman expresses his aspirations to make Jordan a leading market and center for investment in the field of Islamic banking.

The Chairman of the Jordan Securities Commission, Muhammad Salih Al-Hawarni, expressed his aspirations to make Jordan a leading market and center for investment in the field of Islamic banking and to provide all means and ways to achieve this by unifying standards and codifying the jurisprudential provisions regulating the work of Islamic banks and financial institutions through the establishment of a supreme Shariah board that sets Standards of banking and financial work in compliance with Islamic Sharia and it supervises the Sharia committees of Islamic banks and financial institutions so that the tasks, powers and competencies are clearly defined in each of the higher Sharia board and the internal Sharia committees in Islamic banks and the nature of the relationship between them is defined and hence would facilitate procedures for investors wishing to issue sukuk and expedite their issuance.
This came during the inauguration of the training workshop organized by the Amman Stock Exchange under the auspices of the Jordan Islamic Bank on the morning of the twenty-ninth of May 2016 under the title “Islamic Investment Sukuk” in the presence of the CEO and General Manager of the Jordan Islamic Bank Musa Shehadeh, the CEO of the Amman Stock Exchange Nader Azar, and the Chairman and members of the formed Board of Commissioners According to the Sukuk Law, members of the Board of Directors of the Stock Exchange, the Chairman and CEO of the Securities Depository Center, representatives of the Securities Commission, the Ministry of Finance, the Central Bank of Jordan, the Securities Depository Center, companies listed on the Stock Exchange, and financial services companies such as issuance management companies, issuance and custody companies, financial advisory companies, brokerage companies and companies Auditing accounts and a number of those interested in sukuk.

Al-Hourani added that the trend towards Islamic sukuk comes within the strategy that aims to expand the base of financing tools and diversify its sources, and then improve the management of local public debt, pointing out that the authority has completed the system of legislation related to Islamic investment sukuk and has prepared the investment, technical and administrative environment necessary for the success of the process of issuing these sukuks.