SSIF holds workshop on corporate governance, ethics

AMMAN — The Social Security Investment Fund (SSIF) has recently held a workshop on best practices in corporate governance for its representatives on different companies’ board of directors, an SSIF statement said on Saturday. 

Members of the SSIF who sit on various companies’ boards of directors, as well as other stakeholders, took part in the workshop, which hosted speakers from the Central Bank of Jordan, Jordan Securities Commission, Amman Stock Exchange, Amman Chamber of Commerce and the private sector, according to the statement. 

The speakers covered issues such as the benefits of corporate governance implementation, minority rights, conflict of interest and transparency.

SSIF CEO Kholoud Saqqaf was quoted in the statement as saying that the workshop aimed to update SSIF representatives and stakeholders on the best practices of corporate governance.

Saqqaf added that the SSIF also applies a monitoring system to benefit stakeholders. 

According to Saqqaf, and as per the recommendations of the investment board, the Social Security Corporation’s board of directors recently approved a corporate governance manual to provide board members with guidelines on the relationship between the fund and its representatives, the statement added. 

The manual outlines selection parameters and classification criteria for representatives, such as academic background, technical knowledge and practical hands-on experience, according to the SSIF statement.

The manual also covers key points, controls and measures that representatives are expected to adhere to. Furthermore, the statement said that the manual includes guidelines for a comprehensive assessment process of representatives to ensure adequate and proper adherence to best practices in corporate governance.

According to the statement, the SSIF plans to host more workshops with relevant parties to attract and help retain investments.