Bakkar: Plan Underway To Increase SSIF's Investments
Date
10/30/2024 2:03:21 PM
(MENAFN- Jordan News Agency)
Amman, Oct. 30 (Petra) -
Minister of
labor and Chairman of the Board of Directors of Social Security Corporation (SSC), Dr. Khaled Bakkar, said Social Security
investment Fund (SSIF) plays an "important" role in strengthening the Kingdom's social security system through "profitable" investments.
The minister added that the SSIF's management has proven its "prudence" by adhering to corporate governance standards and decisions based on "professional" foundations.
During his meeting at the fund's headquarters Wednesday, the minister praised efforts in strengthening the SSIF's role as a "fundamental" pillar of the SSC's activities, stressing the importance of continuous cooperation to achieve further success and excellence in the SSC financial arm's investment path.
Bakkar directed action to outline a "comprehensive" plan that achieves several goals, primarily steps to search for investment opportunities and participate in major projects, aimed to maintain growth rate of the profits on investments and increase returns and identify expected future challenges.
For his part, SSC's Chairman, Dr. Umayya Touqan, stressed the importance of joint collaborative action to achieve "institutional" goals and enable the corporation to fulfill its future obligations towards subscribers and retirees.
Meanwhile, SSIF CEO Dr- Ezzeddin Kanakrieh reviewed the fund's work mechanisms and the key results of financial performance, noting that the fund achieved an increase in its assets worth JD900 million to reach about JD15.7 billion by the end of the third quarter of this year, and realsized net profits worth JD697.6 million during the same period.
Kanakrieh also reviewed the fund's key investments in various sectors and projects under study.
Kanakrieh stressed that the fund periodically updates the investment strategy, taking into account developments, and launches a series of meetings with financial investors and experts from the private sector to expand existing investments and establish new projects.
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