Khaberni - Dr. Omar Malhas, the head of the Social Security Investment Board, confirmed that the assets of the Social Security Fund amount to 18 billion and 200 million dinars, divided into deposits worth 2 billion and 300 million, in addition to government bonds worth 10 billion, and other projects.
During his appearance on the program "Pulse of the Country" today, Tuesday, Malhas said that government bonds are an investment for the security, and the fund decides how to invest.
He added that the bonds are not direct debt but rather, the Central Bank announces tenders in which the Social Security participates and invests because they yield returns and are a safe investment.
He explained that treasury bonds are safer than keeping cash in possession of the Social Security Fund.
Malhas revealed a new focus in investments to bring the best returns within acceptable risk levels, as the fund began to move towards major projects available for investment in Jordan, such as, for example, the National Carrier project.
He mentioned that the Social Security requested to enter as a shareholder in the company owning the project, in addition to participating in financing the project as a financier from within Jordan.
He clarified that the fund requested to enter as a financier with the entire local share worth 1 billion and 200 million, but the banks found it to be an investment opportunity, requested to enter in the investment, and therefore the Social Security's share will be about 500 million.
He pointed out that the Social Security will be a partner in 40% of the owning company, a share owned by the 2 million subscribers in Social Security.
He also revealed Social Security's investment in the new city of Umrah, as the fund bought 12% of the new city with an area of 56 thousand dunams.
