Jordanian Islamic Finance Sukuk Law A Critical Study

This research paper critically examines the Jordanian Islamic finance Sukuk Law number 30 of the year 2012 which was issued on 16 of September 2012. Examination of the Jordanian Islamic finance sukuk Law involved critical examination to the primary provisions of the Law for the purpose of unveiling the strengths and weaknesses of the Law within the Jordanian legislative framework which is, relatively, still unfamiliar with sukuk issuance matters. The study found that there is some type of contradiction between the provisions of the Law, and that the Jordanian legal infrastructure is not yet, optimally, prepared to support and regulate issuance of Islamic finance sukuk. The study recommends that Article 3 of the Jordanian Islamic Finance Sukuk Law be modified to enable the establishment of a Committee of Islamic financial and economic expert devoted to assist in sukuk issuance matters.