Orphans Fund Development Corporation reports JD251 million in assets

AMMAN — Director General of the Orphans Fund Development Corporation Abdul Rahman Hazaimah on Tuesday said that the corporation manages the funds of approximately 45,000 orphaned children in Jordan.

During a meeting at the Government Communication Forum with Secretary-General of the Government Communication Ministry Zaid Nawaisah, Hazaimah gave a brief background of laws relating to orphans’ assets from 1953 to the present.

He also highlighted  that the corporation’s current assets total nearly JD251 million, emphasising the organisation’s commitment to managing orphans’ funds in a way that serves their interests and aligns with Islamic Law.

The director general also outlined the corporation’s operations across several portfolios, including a financing portfolio encompassing financial leasing and Murabaha, and a real estate portfolio comprising land properties worth JD47 million and buildings valued at JD43 million, in addition to a stock portfolio reaching JD22 million, the Jordan News Agency, Petra, reported. 

Hazaimah added that the corporation owns 25 buildings in Amman, generating an annual income of JD4 million. He also reported that the corporation’s total income reached JD13,644 million in 2023, up from JD11,460 million in 2019, before the pandemic. He also noted that the corporation distributes its profits to the orphans at the end of each year and operates with an independent budget.