AMMAN — The Cabinet, in its session on Wednesday, chaired by Prime Minister Jafar Hassan, approved arecommendation by the Board of Directors of the Central Bank of Jordan (CBJ) to increase the bank’s capital to JD100 million, up from JD48 million.
The decision aims to enhance the financial stability of the bank’s capital base in line with its total assets, which reached JD19.3 billion by the end of 2024, including JD16.8 billion in foreign assets, accounting for 86.9 per cent of total assets, according to the Jordan News Agency, Petra.
The decision came after the CBJ’s foreign reserves reached $21 billion.
The decision is in accordance with Article 8 of the Central Bank of Jordan Law No. 14 of 1971 and its amendments.
The JD52-million increase will be transferred from the general reserve account to the capital account, Petra said.
The CBJ has raised its capital three times before: in 1982 from JD2 million to JD6 million, in 1993 to JD18 million, and in 2013 to JD48 million.
The Council of Ministers also approved a proposal from the Ministry of Transport to offer 50 per cent exemptions on licensing and permit fees to public transport operators.
The decision, which will save operators some JD1.25 million,applies to large and medium-sized public transport buses, taxis, and service cabs regulated by the Land Transport Regulatory Commission, Petra added.
The decision does not include the transport sector under the supervision and jurisdiction of the Greater Amman Municipality and the Aqaba Special Economic Zone Authority, as these entities are responsible for regulating transport within their own areas.
The Cabinet also ordered the refund of any fees paid since January 2, before the decision was issued.
The measure aims to support the public transport sector, which has been affected by regional political conditions and fluctuations in oil prices, impacting operators’ financial obligations.
The Cabinet also approved the establishment of a passenger transport support fund under the Passenger Transport Regulation Law, with the aim of developing and improving public transport services, ensuring regular and scheduled public transport, and enhancing its efficiency in line with the objectives outlined in the law.
The Council of Ministers also decided to exempt 230 trucks and vehicles donated by the United Nations from all customs duties and general and special sales taxes. These vehicles will be used to support the Jordanian humanitarian corridor and provide aid to Gaza, reinforcing Jordan’s relief efforts.
This exemption follows a previous Cabinet decision to exempt 270 similar vehicles, bringing the total number of exempted trucks and vehicles to 500, including forklifts, according to Petra.
The vehicles will be registered under the Jordan Hashemite Charity Organisation (JHCO) and will be operated jointly by the Jordan Armed Forces-Arab Army (JAF) and JHCO.
