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Clarification

Jan 17,2018 - Last updated at Jan 17,2018

With reference to an article that was published in The Jordan Times on Tuesday based on a Jordan News Agency, Petra, report concerning the Jordan Integrity and Anti-Corruption Commission decision to refer several corruption cases to the commission’s public prosecutor, among which is an allegation of  Social Security Investment Fund (SSIF)  administrative violations, SSIF would like to state that the aforementioned article relied on incomplete information.

The SSIF would like to clarify that the subject matter of the article dates back to the period 2007-2009, when the Investment Commission (currently known as the Social Security Investment Board)  resolved to purchase lands during that period in accordance with the then-valid rules and regulations that governed the decision-making process in 2007-2009 .

The SSIF would like to confirm that the real estate and land purchase is conducted through clear and transparent procedures, which are governed by SSIF bylaws and authority matrix. In order to ensure more transparency, governance and soundness, the regulations that govern the real estate and land purchase are revised periodically as part of the Fund’s continuous efforts to safeguard the  decision-making process. The latest amendment to these regulations was made in 2017 to ensure strict governance with best practices.

In addition to that, the SSIF exercises its functions within a framework of comprehensive set of bylaws and internal audit procedures to comply with best practices of good governance in terms of investment decision-making process. 

Additionally, all the fund’s activities are supervised by the board of the Social Security Corporation in addition to a number of internal and external bodies including the Audit Bureau and other regulatory bodies. 

The SSIF further states that it is ready to fully cooperate with all legal and audit entities to provide all the documentation needed for the investigation realting to the purchase of the lands during the period 2007-2009.

Amani Musleh Elkayed

Acting Director of Corporate Communications Department

Social Security Investment Fund

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