Islamic finance has just begun to gain ground in Jordan. Its government passed a sukuk law last year but has yet to issue a sovereign deal. Jordan signed several financing agreements with the Islamic Development Bank over the past year, the most recent of which was a $358m murabaha, via the ITFC, to finance crude oil and other fuel.
IFIS spoke with Bassem Awadallah, former finance minister of Jordan and a board member of Al Baraka Bank, about the development of Islamic finance and its wider economic impact.
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