Saqqaf: SSIF Assets reached JD 10.72 billion and the income grew by 24% ‎during the first half of 2019‎

Social Security Investment Fund CEO  Mrs. Kholoud Saqqaf said that the Fund’s  total assets grew by 5% as at the end of June 2019  to reach JD 10.72 billion compared to JD 10.19 billion as at the beginning of 2019.  The Fund’s income significantly grew to reach  JD 321.6 million as at the end of June 2019 compared JD 260 million for the same period of 2018 representing a growth of 24% .
As part of its strategy to expand its strategic long term investments, the Fund has increased its shares in a number of public equity companies of vital  sectors since beginning of the year . In addition, the Fund has expanded its real estate investments to constitute 6% of the Fund’s total assets. It has leased and developed its raw lands and properties and has recently called local bidders to conduct market studies to develop a number of raw lands for the purpose of establishing various investment projects.
Saqqaf said that the Fund’s representatives  on companies’ boards of directors are required to monitor the performance of companies, and maintain investment revenue and stakeholders’ rights according to clear criteria, which account for investment risks, the Fund has set acomprehensive program to enhance representatives’ abilities and performance in accordance with international best practices in the field of corporate governance. Saqqaf added that these efforts aim to  complement publishing the corporate governance manual the Fund published on March 2019 that defines the representatives’ qualifications, role and assessment criteria.    
As part of its contribution to the national economy development, the Fund  has been keen on direct investment in vital sectors, notably tourism, development areas and financial leasing . In order to enhance that role, the Fund had recently signed a memorandum of understanding with Meridiam/Jordan to provide economic feasibility studies for many projects, as well as to examine the investment opportunities available in the Kingdom's infrastructure projects and education and health sectors , with the possibility of investing in them in partnership with the private sector. Saqqaf concluded that the Fund is currently considering financing a number of projects in the health, education, tourism and energy sectors.