Arab Today, arab today abu hammour describes sale of bonds last year as a boon
Last Updated : GMT 23:12:04
Arab Today, arab today
Arab Today, arab today

Abu Hammour describes sale of bonds last year as a boon

Arab Today, arab today

Arab Today, arab today Abu Hammour describes sale of bonds last year as a boon

AMMAN – Arabstoday

Minister of Finance Mohammad Abu Hammour on Sunday described the issuance of $750 million in five-year bonds on international markets in November last year as a boon for Jordan’s finances. He explained that if the government was to issue bonds in international markets at present it would carry much higher annual interest rates due to political unrests in the region, which prompted international ratings agencies to downgrade credit ratings of several countries in the Middle East and North Africa. “The government’s selling of bonds to about 220 international investors in November last year at a fixed annual interest rate of 3.875 per cent was successful as it saved the treasury millions of dollars,” the minister told reporters noting that the sale was oversubscribed. Abu Hammour also told reporters that a draft law is currently at the Legislation and Opinion Bureau to facilitate the issuance of Islamic sukuk (bonds) in the Kingdom in a bid to enable the government diversify its borrowing tools. Stating the draft law will be submitted to Parliament next month for approval, he indicated that once the legislation is approved it will also open the door for the private sector to tap the Sharia-compliant financing instruments. “The Islamic sukuk market will enable the government to diversify its borrowing and financing tools and will also allow the private sector to borrow at competitive rates,” he said. Islamic sukuk issuance will help reduce pressure on public finance and will also increase investments in the country because there are many investors in Jordan and the region who favour Islamic Sharia-compliant finance. Public debt ratio to the gross domestic product (GDP) is currently at 58 per cent, he noted. According to public debt law, the debt ratio should not exceed 60 per cent of the GDP.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today abu hammour describes sale of bonds last year as a boon Arab Today, arab today abu hammour describes sale of bonds last year as a boon

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today abu hammour describes sale of bonds last year as a boon Arab Today, arab today abu hammour describes sale of bonds last year as a boon

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday