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Dr. Mohammad Al-Khalaileh, the Minister of Awqaf, Islamic Affairs, and Holy Places, held a meeting with Dr. Ezzeddin Kanakrieh, the CEO of the Social Security Investment Fund (SSIF), to discuss strategic avenues for investment collaboration.
The discussion, which included key officials such as the General Manager of Awqaf Investment Funds Development, the General Manager of the Hajj Fund, and the General Manager of Hajj and Umrah, alongside several SSIF directors, underscored the critical need for joint efforts to bolster Jordan's national economy.
Dr. Al-Khalaileh praised the SSIF for its significant role in the Kingdom's economic development. He highlighted the Fund's strategic diversification of its portfolio and its strong positions in major companies, emphasizing that SSIF's investments are seen as vital to securing the future for both current and future generations.
He further noted the Ministry's dedication to developing and investing in waqf (endowment) lands and funds, in addition to the Hajj Fund, with a focus on providing financing solutions that align with Islamic principles.
Dr. Kanakrieh provided insights into the SSIF's performance, revealing that institutional efforts have strengthened the financial position of Social Security, with assets growing to JD 15.5 billion by the end of the first half of the year. The Fund also reported profits of approximately JD 514 million, marking a 15% increase compared to the same period last year.
Kanakrieh emphasized that the Fund's prudent approach, coupled with its sectoral and geographical diversification, has delivered stable and meaningful returns. This strategy has shielded the Fund from the volatility of various sectors due to economic and geopolitical challenges. He noted that the SSIF's outstanding performance not only benefits its investment portfolio, as well as Social Security subscribers and retirees, but also positively impacts the broader Jordanian economy, enhancing the overall attractiveness of the Kingdom's investment environment.
The meeting also focused on formalizing the partnership between the Ministry and the SSIF, particularly through the activation of Islamic investment tools in line with the Fund's strategy. This collaboration is set to finance critical infrastructure projects, while discussions also explored potential joint ventures and the exchange of expertise in the field of real estate development.
The Social Security Corporation (SSC) is a major investor in the tourism sector. Geographically, its portfolio covers most parts of the Kingdom through direct and indirect investments.
SSIF invests in the energy sector through strategic holdings in electricity generation and distribution companies, in addition to renewable energy projects
Al Daman for Development Zones Company (DDC) was established in 2009 as a private shareholding company fully owned by the Social Security Corporation. DDC is the investment arm of the Investment Fund for infrastructure development, services and marketing for the King Hussein Bin Talal Development Area in Al Mafraq and the Irbid Development Area
The value of the equity portfolio amounted to around JD 2,699.6 million as at 31/03/2025
The portfolio consists of money market instruments with maturity dates that do not exceed one year, such as deposits, treasury bills, repurchase agreements, certificates of deposit and current accounts.
The Fund invests in medium and long term loans through direct lending to the Jordanian Government and its public institutions, and also by participating in syndicated loans to companies for a period that is not less than one year.
In September 2020, SSIF established a wholly owned company that will launch an agricultural project in the south on an area of 30,000 dunums with a total investment of JD 13 million