Cabinet approves JD400 million Islamic Sukuk for Greater Amman Municipality; expected to save up to JD140 million

– Approval of the Administrative Organisation Regulation for the
Royal Academy for Inclusive Education for Persons with Disabilities
(2026).

– Approval of amendments to the Regulation on Insurance and Medical
Committees of the Social Security Corporation (2026).

– Approval of the rationale for the draft Public Safety Regulation
for the Aqaba Special Economic Zone (2026).

– Settlement of 1,002 outstanding cases between taxpayers and the
Income and Sales Tax Department.

Amman, October 11 (Petra) – The Cabinet on Sunday approved the
issuance of Islamic financing sukuk worth JD 400 million by the
Greater Amman Municipality (GAM), using an Ijara Muntahia Bittamleek
(lease-to-own) structure, with an annual return of 5.5 percent over
five years.

The issuance is part of a plan to improve financial management,
reduce borrowing costs and capitalise on Islamic financing
opportunities in the domestic market.

It is the first issuance of its kind by a municipality in the
Kingdom, reinforcing Jordan’s position in Islamic finance and
supporting the objectives of the Economic Modernisation Vision.

The project follows months of specialised economic and financial
studies conducted by GAM in cooperation with government entities and
private-sector partners, particularly Islamic banks.

The municipality established a dedicated company to manage the sukuk
issuance in accordance with the Islamic Finance Sukuk Law, relevant
regulations and industry best practices.

The company has completed the issuance documentation and obtained the
necessary approvals from the Securities Commission, including
approval of the prospectus by the Board of Commissioners and
endorsement by the Central Sharia Supervisory Board.

The Central Bank of Jordan(CBJ) will manage the issuance, which
targets banks, insurance companies and savings, investment and
pension funds. The sukuk will be tradable on the Amman Stock
Exchange, subject to the approved terms, conditions and regulatory
requirements.

The issuance introduces a new investment and financing instrument
designed to diversify investment opportunities, deepen the domestic
financial market and expand the use of Islamic finance.

It is expected to strengthen GAM’s financial governance by providing
lower-cost financing for its projects and expenditures.

The issuance is projected to reduce financing costs by approximately
JD 70 million over the initial five-year term. Based on the same
financial assumptions, the savings could reach JD 140 million if the
sukuk term is extended by an additional five years, supporting
financial sustainability and improving debt management.

GAM will announce further details in coordination with CBJ, which
will manage the issuance. The prospectus is expected to be published
on the municipality’s website in the coming days, enabling
prospective investors and financing institutions to review the full
terms and conditions.

Cabinet Approves Draft Law on Christian Denomination Councils
The Cabinet approved a draft law amending the Law on Christian
Denomination Councils for 2026, paving the way for its submission to
the House of Representatives in accordance with constitutional
procedures.

Prepared in consultation with representatives of the Kingdom’s
Christian denominations, the draft law seeks to define the
jurisdiction of Christian denomination councils in a manner
consistent with the Constitution, the laws of the respective
denominations and Christian religious principles.

It aims to enable members of the Christian denominations to organise
their religious affairs and personal status matters accordingly.

The amendments follow a proposal submitted by the Council of Church
Heads in Jordan in coordination with Christian members of the Senate
and the House of Representatives.

They include amendments to Article 4 of the existing law concerning
the definition of specific personal status matters under the
respective ecclesiastical laws and the clarification of the
jurisdiction of Christian denomination councils.

The changes aim to safeguard the rights of members of the Christian
community to organise their religious and personal status affairs in
accordance with their religious principles while upholding the
Constitution.

Under the proposed amendments, marriage, divorce, wills and adoption
would be classified as personal status matters for Christian
denominations and governed by their respective ecclesiastical laws,
notwithstanding any conflicting provisions in other legislation.

Article 10 would be amended to clarify the applicable legal
provisions when a court, including a regular court, considers a case
involving immovable property in the Kingdom that is subject to a will
or an intestate estate.

The amendments would not affect legal statuses established before the
relevant provisions enter into force following enactment of the law.

Cabinet Approves Administrative Regulation for Royal Academy for
Inclusive Education
The Cabinet approved the Administrative Organisation Regulation for
the Royal Academy for Inclusive Education for Persons with
Disabilities for 2026.

The regulation aims to improve institutional performance and the
quality of services in line with public-sector modernisation
directives. It seeks to promote best practices in public
administration and embed the principles of efficiency, effectiveness
and sustainability in inclusive education services.

The regulation will enable the Academy to carry out its duties and
responsibilities under the Royal Academy for Inclusive Education for
Persons with Disabilities Law No. 29 of 2025 by establishing a
flexible, integrated organisational structure that improves executive
management, optimises the allocation of human resources and
strengthens the institution’s ability to respond to evolving
development needs.

It establishes a corporate governance framework with clear
decision-making procedures to streamline operations, simplify
administrative processes, reduce complexity and enhance
organisational flexibility in line with the Academy’s mandate.

The regulation defines roles, responsibilities and functional
authorities to strengthen institutional accountability, prevent
overlapping or duplicated responsibilities and improve coordination
among organisational units.

Amendments to Social Security Insurance and Medical Committees
Regulation

The Cabinet approved amendments to the Regulation on Insurance and
Medical Committees of the Social Security Corporation for 2026.

The amendments aim to give the Corporation’s committees greater
flexibility to prevent insured persons from losing contribution
periods that qualify them for benefits under the Social Security Law.

They seek to strengthen oversight of insurance committee decisions
and ensure compliance with the law and the regulations and
instructions issued under it.

Under the amendments, insurance committees may convert contribution
periods that would otherwise be cancelled because of insufficient
evidence of employment into voluntary contribution periods.

The measure is intended to prevent insured persons from losing
eligibility for a retirement pension because previously recorded
contribution periods have been cancelled.

Cabinet Approves Public Safety Regulation for Aqaba Special Economic
Zone

The Cabinet approved the rationale for the draft Public Safety
Regulation for the Aqaba Special Economic Zone (ASEZ) for 2026, which
aims to strengthen and modernize safety requirements across the zone.

The proposed regulation covers economic facilities, ports, public
utilities, commercial complexes, buildings, parks and schools.

It takes into account technological developments and seeks to
reinforce Aqaba’s position as a safe and attractive destination for
investment and business.

The draft complements the regulations and directives of relevant
authorities, including Civil Defence and Public Security, while
promoting coordination, operational integration and information
sharing.

It establishes a unified framework for public safety across sectors
and activities within the zone, aiming to protect people, property
and the environment; improve facilities’ preparedness for risk
prevention and emergency response; and ensure the continuity of
economic, tourism and service activities.

The framework comprises four stages: awareness-raising, prevention,
remediation and rehabilitation and the documentation of lessons
learned.

It applies to economic facilities and activities, entertainment
venues, public events, beaches, residential communities and tourist
camps, extending safety requirements to workplaces, residential areas
and locations frequented by visitors.

The draft regulation emphasises prevention, requiring establishments
to analyse workplace risks, identify and periodically assess hazards,
implement appropriate mitigation measures and document and monitor
their implementation to address risks before they lead to accidents.

It requires establishments to prepare and regularly update emergency
and evacuation plans, obtain approval from the relevant authorities
and conduct periodic drills in coordination with Civil Defence.

Effective early-warning systems must be provided to ensure that
everyone on the premises, including persons with disabilities, can
recognise and respond to alerts.

For event venues and tourist camps, the draft sets out requirements
for crowd management, compliance with capacity limits, the regulation
of entry and exit points and the provision of alarm systems,
fire-suppression equipment and first-aid services.

It requires appropriate facilities and services for older persons,
persons with disabilities and children.

For recreational facilities and amusement rides, the proposed
regulation requires compliance with high operational safety
standards, periodic inspections and maintenance and qualified
technical supervision during operation.

Age restrictions and applicable health conditions must be clearly
displayed for each ride.

The draft provides for measures to protect road users during
construction and maintenance work, prohibiting the obstruction or
occupation of roads in ways that compromise public safety without
prior approval.

It establishes fire-prevention requirements for buildings and
residential complexes and requires elevators to be maintained and
serviced regularly.

The regulation introduces a unified four-level preparedness and
early-warning system:
Green: Normal conditions.

Yellow: Heightened readiness and monitoring in response to a
potential incident.

Orange: Partial activation of the emergency plan when an incident is
highly likely.

Red: Full activation of the emergency plan when an incident occurs.

The system is intended to ensure a common understanding among
relevant authorities and facilities of the measures required at each
level.

Enforcement measures would be progressive, beginning with a notice
and written warning and potentially escalating to the full or partial
suspension of operations until the establishment complies with safety
requirements.

The proposed regulation comes amid growing economic and tourism
activity in Aqaba and the increasing need to modernise public safety
systems.

It seeks to strengthen safety across economic, investment, tourism
and social facilities while promoting awareness, education and the
application of lessons learned from previous incidents.

Cabinet Approves Settlement of 1,002 Tax Cases

The Cabinet approved the settlement of 1,002 outstanding cases
between taxpayers and the Income and Sales Tax Department in
accordance with the law.

The decision reflects the government’s continued efforts to ease the
burden on businesses, investors taxpayers; stimulate economic
activity; improve the business environment; and help taxpayers
regularise their tax status.

Cabinet Appoints Two Ministry Secretaries-General

The Cabinet appointed Tariq Ibrahim Batayneh as Secretary-General for
Administrative and Financial Affairs at the Ministry of Local
Administration after he achieved the highest score in the competition
conducted under the government leadership system.

It appointed Mohammad Majali as Secretary-General of the Ministry of
Tourism and Antiquities.

//Petra// AK