Cabinet Approves Central Bank Capital Hike To JD100 Mln (Corrected)

(MENAFN- Jordan News Agency)

Amman, February 5 (Petra) – The Cabinet, chaired by Prime Minister Jafar Hassan, approved on Wednesday the Central bank of Jordan's (CBJ) capital increase from JD 48 million to JD 100 million.
The decision aligns with the CBJ's growing asset portfolio, which totaled JD 19.3 billion by the end of 2024, including JD 16.8 billion in foreign assets 86.9 percent of total assets. This follows a rise in Jordan's foreign reserves to $21 billion.
The capital increase, amounting to JD 52 million, will be transferred from the general reserve to the capital account in accordance with Article 8 of the Central Bank of Jordan Law No. 14 of 1971 and its amendments. This marks the fourth capital increase in the CBJ's history, following previous increments in 1982, 1993, and 2013.
The Cabinet also approved a 50 percent exemption on licensing and permit fees for public transport operators in 2025, a measure expected to save the sector approximately JD 1.25 million.
The exemption applies to large and medium public transport buses, taxis, and service vehicles regulated by the Land Transport Regulatory Commission. However, transport services under the jurisdiction of the Greater Amman Municipality and the Aqaba Special Economic Zone Authority are excluded.
Operators who have already paid fees in 2025 will receive refunds. The initiative aims to support the sector amid economic challenges, geopolitical uncertainties, and fluctuating fuel prices.
Additionally, the government approved the establishment of a Passenger Transport Support Fund to enhance public transport services. The fund will finance sector development, support transport workers, encourage smart transport systems, and modernize the fleet through grants and loans. It also aims to make public transport more accessible, particularly for university students, individuals with disabilities, and the elderly, while promoting greater workforce participation, particularly among women.
In a related decision, the Cabinet exempted 230 vehicles and trucks donated by the United Nations Office from customs duties and general and special sales taxes. These vehicles will support Jordan's humanitarian corridor for Gaza and bolster relief efforts.
This exemption follows a previous decision to waive fees on 270 vehicles, bringing the total number of exempted trucks and vehicles to 500. The fleet, registered under the Jordan Hashemite Charity Organization, will be operated by the Jordan Armed Forces-Arab Army and the Organization.

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