Greater Amman Municipality: No intention to raise fees, and we are striving to ease the burden on citizens

He explained that exemptions and facilities related to fees are renewed according to approved policies, pointing out that these measures encourage citizens to pay their outstanding dues, which enhances the Municipality's ability to collect its revenues.

Amman Municipality Assets

Regarding the assets of the Amman Municipality, Al-Jariri said that the latest study conducted by the Municipality estimated the value of its assets at about one billion dinars, noting that the Municipality is currently working on preparing a new study to estimate the value of these assets.

He added that the value of the assets is likely to rise with the increase in prices, the improvement of services, and urban expansion in the city of Amman, noting that expanding the city, establishing urban areas, and implementing their facilities and services would contribute to increasing the value of the assets.

Islamic Sukuk

Regarding the issuance of Islamic Sukuk, Al-Jariri said that the Municipality's move to issue Sukuk worth 400 million dinars came after studies prepared in cooperation with consultants and the administrative and financial staff at the Municipality.

He explained that the plan is based on distributing the Sukuk issuance into phases, such that the value of the first phase amounts to 400 million dinars, followed by a phase worth 300 million dinars, and then another phase worth 300 million dinars, bringing the total issuances to one billion dinars.

The Council of Ministers approved on October 11, 2026, the issuance of Islamic Sukuk worth 400 million dinars, with a declared annual return of 5.5% for a period of five years.

Regarding the timing of subsequent phases, Al-Jariri explained that the Municipality will determine their dates based on studies and the ability to secure investors, noting that the second phase might be launched after two years, and not necessarily after the end of the first issuance period, as the dates will depend on the availability of resources and entities capable of investing in the Sukuk.

He added that the Municipality will work on the next phase based on the results of the first phase and studies related to subsequent issuances, confirming that the plan will be implemented in phases according to available resources.

Al-Jariri said that the Council of Ministers' approval enabled the Amman Municipality to use non-traditional financing tools, noting that the Sukuk issuance aims to attract cash liquidity to the Municipality, allowing it to use it to pay off part of its debts and reduce the cost of debt servicing.

He explained that the Sukuk will be offered to institutions, companies, banks, and funds through an issuance prospectus that includes details related to the process, enabling interested parties to review the terms of issuance and investment.

He added that the Municipality will use the proceeds of the first issuance to pay off part of its existing debts, with the aim of reducing indebtedness and the burdens associated with it, confirming that the approach is not based on continuously rolling over debts.

Al-Jariri said that the Municipality will work to repay the first issuance after five years, explaining that this will be done by reducing indebtedness and the cost of servicing it, and benefiting from the financial savings resulting from the financing process, noting that the Municipality expects to achieve savings of 70 million dinars over five years, at a rate of 14 million dinars annually.

He explained that these savings are calculated based on the difference between the previous financing cost and the return associated with the Sukuk issuance, noting that the Municipality based its estimates on studies prepared for this purpose.

He confirmed that the expected savings will be directed toward capital projects and projects that serve citizens, which will reflect on the level of services provided by the Municipality.

He indicated that subsequent phases of the Sukuk issuance will be subject to study, noting that the Municipality will determine their timing and size according to its financing needs and the availability of investors.

Assets and Benefits

Regarding the assets and benefits included in the Sukuk structure, Al-Jariri said that the issuance prospectus will include details regarding them, confirming that the issuance of Sukuk does not mean transferring the ownership of Amman Municipality's assets.

He added that the process is based on studies, procedures, and guarantees, noting that the Municipality enjoys the necessary solvency to issue Sukuk, and that the Central Bank is managing the issuance.