Real estate sector accounts for 80% of Jordan's JD1.2b finance lease volume

AMMAN — The finance lease volume in the Kingdom is estimated at JD1.2 billion, 80 per cent of which is directed to the real estate sector, Amjad Saeh, president of the Jordan Association of Finance Lease Companies, said Saturday.

At a workshop on finance lease and its importance to the national economy, Saeh noted that there are 16 finance lease companies in Jordan, seven of which are owned by commercial banks, four by Islamic banks and five are owned by non-bank institutions.

Participants discussed all articles in the finance lease law to raise awareness on how to complete transactions at the Land and Survey Department.

Muein Sayegh, director of the department, highlighted the importance of organising such workshops, in cooperation with the department’s partners, for their role in acquainting employees with the law and explaining how the mechanism transactions are carried out.