Three of Jordan’s domestic banks operate on an exclusively Islamic basis, forming a vibrant sharia-compliant segment within a sector that is among the most well-established in the region. The Islamic finance industry in Jordan has come a long way in its 36-year history.
Industry is one of the mainstays of the Jordanian economy with the sector producing roughly one fifth of the country’s GDP and employing around one tenth of Jordanians. The success of Jordan’s current strategy to build higher-value-added industries is reflected in the pharmaceutical sector, which has leveraged both the high standard of human resources in the country and the availability of...
The construction sector saw renewed growth in 2013 with forecasts for continued expansion in 2014. Loans extended in 2013 reached $5.76bn, accounting for 21.5% of credit to all industries. While housing accounted for the bulk of construction activity, several major real estate and tourism development projects are driving opportunities for large contractors, particularly in the Red Sea port of...
Jordan’s transport sector remains a major source of employment, currently providing jobs for approximately 10% of the county’s workforce. While the volatility of energy supplies, particularly natural gas from Egypt since 2011, continues to pose a challenge to the sector, plans for a new national rail network, including a line connecting Iraq with the Port of Aqaba, hope to address this....
Population increases and a growing economy look set to intensify demand on energy resources in Jordan over the coming years. In response, the government has put in place an energy plan that will focus on maximising the use of domestic resources, particularly oil shale; encouraging energy conservation and awareness; generating electricity from nuclear energy; and promoting the development of...
The growth of Jordan’s insurance industry reflects the maturation of the nation’s economy since independence in 1946. While the industry showed resilience during the global economic crisis, posting a rise in gross written premiums (GWPs) from 2008-09, competition within the sector is high. With 27 companies currently operating, achieving sustained profitability is a challenge for many of the...
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