‘Abu-Ghazaleh Knowledge Forum’ Hosts CEO of Social Security Investment Fund

AMMAN – Talal Abu-Ghazaleh Knowledge Forum (TAG-KF) hosted   Chief Executive Officer (CEO) of the Social Security Investment Fund (SSIF), Ms. Kholoud Saqqaf, in a virtual session to discuss the Fund’s Investments and its future outlook, through live streaming on the Forum’s Facebook page.

During the meeting, Saqqaf focused on Coronavirus (COVID-19) pandemic and its impact on global economy, pointing out that the SSIF’s immediate response to the resulting economic complications enabled it to continue achieving positive returns on its different investments. 

She noted that the SSIF’s decisions  reflected positively on the growth of the financial assets to exceed JD11 billion at the end of the third quarter of this year, in addition to enabling the Social Security Corporation (SSC) to launch a number of social protection programs to address the consequences of the pandemic. 

Saqqaf affirmed that the pandemic created extraordinary and unprecedented circumstances that forced everyone to rearrange their priorities and quickly respond to seize the new opportunities made available in different sectors mainly relating to food and health security in addition to achieving self-sufficiency. 

According to Saqqaf, the SSIF measures  included: increasing  the Fund’s contribution in a number of pharmaceutical companies, investing in a number of infrastructure projects and public-private partnership projects especially in health, education, services and real estate development projects; in addition to establishing the Social Security Corporation for Investment and Agricultural Industries at the end of August 2020, which will manage its first agricultural project in the southern region of the Kingdom to produce vegetables and animal fodder. 

 Furthermore Saqqaf stated that the Fund’s financial strength reflects the Corporation’s investment decision-making approach which is based on profitability in accordance with an integrated system of good governance, good management, and sound global practices in managing retirement funds. That, she affirmed,  assisted the Fund in providing a solid basis that contributes to the sustainability of the current and the future social protection system of the SSC. 

During the session, Saqqaf reviewed the historical development of the Fund’s financial assets growth since its establishment and the most prominent indicators of the financial performance of different investment portfolios as well as the investment policy and decision-making mechanism. 

For his part, Mr. Fadi Daoud, Executive Director of TAG-KF and Talal Abu-Ghazaleh Global (TAG.Global) Education and Youth Consultant, who moderated the session, pointed out that the digital virtual session with Ms. Kholoud Saqqaf was organized as part of a series of online meetings and discussions by Talal Abu-Ghazaleh Knowledge Forum  organized during the  coronavirus crisis. 

He also concluded that the event was held within the strategy of TAG.Global in its digital transformation, including the Forum’s activities and events.