Rawabdeh highlights SSIF’s role in bolstering financial sustainability, social security

AMMAN — Minister of Labour and Chairperson of the Social Security Corporation (SSC) Board of Directors Nadia Rawabdeh emphasised the vital significance of investments in bolstering the financial sustainability of the SSC that is achieved through “a structured and prudent decision-making process”. 

During a meeting with Chairman of the Social Security Investment Fund (SSIF) Board Mazin Al Khatib, SSIF CEO Ezzeddin Kanakrieh, and a number of SSIF managers, Rawabdeh said that the Social Security Law has defined the institutional governance framework that controls the SSC and by SSIF, and the supervisory role SSC board of directors has over the SSIF to enhance the sustainability of social security, according to a SSIF statement.

The chairman of the SSIF Investment Board underscored the “unwavering commitment” to efforts aimed at implementing the investment policy, achieving sustainable returns on assets, and contributing to the growth of the economy through SSIF’s strategic investments.

The SSIF CEO unveiled the financial results of the third quarter of the current year, demonstrating a 5 per cent year-over-year increase in assets to reach JD14.5 billion. Additionally, the income surged to JD611 million, surpassing the JD504.8 million recorded in the corresponding period of the previous year.

The CEO also reviewed SSIF’s investment projects in various sectors, including banking, mining, energy, tourism, agriculture, real estate development, and development areas. The SSIF is also financing projects in the health, transport and mining sectors through financial leasing. The SSIF is currently studying a number of investment opportunities in mining and energy sectors, and is interested in participating in public-private partnership and the Economic Modernisation Vision’s projects.

Rawabdeh commended the SSIF for its efforts to improve the investments performance and contribute to the national economy, social security, and sustainable development, concluded the statement.