Social Security fund’s investments create some 3,500 jobs — report

AMMAN — Direct investments by the Social Security Investment Fund (SSIF) in the Kingdom’s vital sectors have provided 3,500 jobs, according SSIF CEO Kholoud Saqqaf.

In a foreword to the second sustainability report for 2018, Saqqaf said that the publishing of the report is meant to complement the SSIF’s efforts to achieve comprehensive sustainable development and contribute to meeting the needs of the fund and its stakeholders, according to an SSIF statement.

The report also aims at enhancing the social and environmental impact of the SSIF’s investments to create economic, social and national development, Saqqaf said.

It tackles the most notable achievements pertaining to sustainable development in 2018, including corporate social responsibility and women’s empowerment documents.

Other issues addressed by the report include stakeholder relations, empowering employees and women, in addition to community and environment-related accomplishments for the fund.

The report showcases the most noteworthy investments within the Kingdom’s vital sectors, such as banking, energy and tourism, while also addressing projects implemented in development zones.

The document sheds light on the role of the aforementioned sectors in supporting the economy and creating encompassing national development, according to the statement.

According to the report, the SSIF’s assets have accrued to JD10.47 billion by the end of the first quarter of this year, compared with JD10.19 billion at the beginning of 2019, registering an increase of JD280 million.

Also during the first quarter of 2019, the SSIF has generated JD166 million in revenue, compared with JD130 million during the same period of last year, denoting a 28 per cent growth.