Bakkar: Plan Underway to Increase SSIF’s Investments.

Bakkar: Minister of Labor and Chairman of the Board of Directors of Social Security Corporation (SSC), Dr. Khaled Bakkar, stated that the Social Security Investment Fund (SSIF) plays a crucial role in fortifying the Kingdom's social security system through investments. The minister emphasized the importance of the SSIF's management in adhering to corporate governance standards and making decisions based on solid professional foundations. According to Jordan News Agency, during a meeting at the fund's headquarters, Dr. Bakkar commended the ongoing efforts to enhance the SSIF's role as a fundamental component of the SSC's activities. He highlighted the necessity for continuous collaboration to achieve further success and excellence in the investment strategies of the SSC's financial arm. Dr. Bakkar directed the formulation of a comprehensive plan to explore investment opportunities and engage in major projects. The plan aims to sustain the profit growth rate, increase returns, and identify anticipated future c hallenges. SSC's Chairman, Dr. Umayya Touqan, emphasized the significance of joint collaborative efforts to achieve institutional goals and enable the corporation to meet its future obligations to subscribers and retirees. Meanwhile, SSIF CEO Dr. Ezzeddin Kanakrieh reviewed the fund's operational mechanisms and financial performance. The fund saw an increase in assets worth JD900 million, reaching approximately JD15.7 billion by the end of the third quarter, with net profits amounting to JD697.6 million during the same period. Dr. Kanakrieh also discussed the fund's key investments in various sectors and projects currently under consideration. He stressed that the fund regularly updates its investment strategy, taking into account market developments. Additionally, a series of meetings with financial investors and private sector experts are conducted to expand existing investments and establish new projects.