jordan pulse -

In its session held today, Wednesday, under the chairmanship of Prime Minister Dr. Jaafar Hassan, the Cabinet approved several major measures.

The decision to raise the Central Bank of Jordan’s capital will see it increase from 48 million to 100 million Jordanian dinars. The move is designed to reinforce the bank’s financial robustness in line with its asset base—which reached 19.3 billion dinars at the end of 2024, including foreign assets worth 16.8 billion dinars (86.9% of total assets)—and follows a rise in the bank’s foreign reserves to US$21 billion. Pursuant to Article 8 of the Central Bank of Jordan Law No. 14 of 1971 and its amendments, the 52 million dinar increase will be transferred from the general reserve account to the capital account. This is the fourth capital increase in the bank’s history, following previous boosts in 1982 (from 2 million to 6 million dinars), 1993 (to 18 million dinars), and 2013 (to 48 million dinars).

In another measure, the Cabinet approved, through the Ministry of Transport, a system to provide incentives to operators in the transportation sector. Operators will receive a 50% exemption from licensing and permit fees for 2025—a decision estimated to save them about 1.25 million dinars. This incentive applies to large and medium public buses, taxis, and service vehicles regulated by the Land Transport Regulatory Commission. It does not cover transport under the jurisdiction of Greater Amman Municipality or the Aqaba Special Economic Zone Authority. The decision also mandates the reimbursement of fees paid by operators since January 2, 2025, prior to the announcement. This support comes amid challenges in the public transport sector due to political circumstances and oil price fluctuations, which have strained the financial conditions and obligations of operators.

Furthermore, the Cabinet approved the establishment of a “Passenger Transport Support Fund” in accordance with the Passenger Regulation Law. The fund is intended to develop and improve public transportation services by providing regular, scheduled services and enhancing efficiency. It aims to upgrade passenger transport facilities, support service improvements, invest in emergency preparedness, and increase job opportunities in the sector. Additional benefits include financing for smart transportation systems and fleet updates through grants and loans, as well as subsidizing fares for targeted groups such as public university students, people with disabilities, and the elderly. The initiative is expected to lower travel costs and encourage broader use of public transit, particularly incentivizing women to join the workforce.

Lastly, the Cabinet decided to exempt 230 trucks and vehicles earmarked for donation by the United Nations office from all customs duties and both general and special sales taxes. These vehicles will be used to support the Jordanian humanitarian corridor and deliver assistance to the residents of the Gaza Strip, bolstering Jordan’s relief efforts in the area. This decision follows an earlier Cabinet resolution that exempted 270 trucks and vehicles—bringing the total to 500 vehicles (including cars and forklifts). The vehicles will be registered under the Jordanian Hashemite Charity Organization and operated jointly by the Jordanian Armed Forces and the organization.