Jordan Times
Friday, April 16, 2004
ASE authorises trading dollar bonds
AMMAN (Petra) — The Amman Stock Exchange (ASE) will launch from Wednesday a new market for trading bonds denominated in the US dollar. ASE Executive Manager Jalil Tarif described the move as a new and flexible step, as it is the first time that the ASE trades bonds in a currency other than the Jordanian dinar. Under previous regulations, trading was prohibited in any currency other than the Jordanian dinar. In a statement to the press, Tarif said the regulations will be amended to provide for the issuance of the new securities, adding that settlement and clearing-related transactions will be carried out in the same currency. Under the decision, the ASE will begin listing the 600 corporate bonds issued by the Cairo Amman Bank at a total value of $6 million.