Jordanian banks establish JD275 million investment fund to propel economic modernisation

AMMAN — A coalition comprising 16 Jordanian banks officially established the first investment fund in Jordan — the Jordanian Capital and Investment Fund, the largest Jordanian investment fund with a capital of JD275 million, in accordance with the provisions of the Investment Environment Law of 2022.

The fund stated that its establishment aligns with the goals of the Economic Modernisation Vision, which aims to invest in promising companies with opportunities for growth, providing new capital to enhance employment opportunities and boosting economic growth across Jordan, the Jordan News Agency, Petra, reported.

According to Chairman of the Jordan Capital and Investment Fund Management Company Hani Qadi, the fund will serve as an enabler to the goals of accelerating growth by fully leveraging Jordan's economic potential.

CEO of Jordan Capital and Investment Fund Management CompanyFares Sharaf said that the fund has already begun significant investments in the information Technology and communications sector, in the Aqaba Digital City".

Sharaf said that "the upcoming investments will primarily focus on the food and agricultural sector, with considerations for investments in educational technology, packaging, pharmaceutical industries, and high-value manufacturing."