SSIF’s ASE investments stand at about JD2.1bln-CEO

Amman: -Social Security Investment Fund (SSIF) held meetings with Jordan Securities Commission, Amman Stock Exchange (ASE), and Securities Depository Center. During the meetings, talks went over ways to enhance attractiveness of the Kingdom's financial market to investors, protect rights of small shareholders, develop regulatory and legislative environment. The meetings also tackled companies' commitment to disclosure and transparency standards and sustainable development goals to achieve requirements for upgrading the ASE rating. According to a statement Saturday, the SSIF CEO Dr. Izzaldeen Kanakrieh stressed the fund's keenness to perform its role as one of the "largest" institutional investors in the ASE. Kanakrieh added that SSIF's investments amount to about JD2.1 billion in the capital of listed companies, with a percentage of 12.4% of the stock market's value. Additionally, Kanakrieh stressed the importance of the role of major investors in the ASE in supporting efforts of supervisory institutions and regulatory bodies, which aim to enhance institutional practices in the stock exchange and improve level of corporate governance practices. Kanakrieh said this drive is reflected in the companies' performance and thus value of the SSIF's investments and the remaining shareholders. He praised achievements made by capital market institutions and their interest in contacting with investors and obtaining feedback from them on legislative and regulatory procedures in line with best practices. This process, he noted, aims to provide an "attractive" environment for investment and improve the Kingdom's ranking in global indicators. Source: Jordan News Agency