Latest news with #JD40
Jordan News
08-05-2025
- Business
- Jordan News
PM lauds JEPCO's contribution of 5% of profits for health, education, transport sectors - Jordan News
PM lauds JEPCO's contribution of 5% of profits for health, education, transport sectors Prime Minister Jafar Hassan on Wednesday commended Jordan Electric Power Company (JEPCO) for allocating 5% of profits over three years for the health, education, and public transport sectors, part of the social responsibility project. اضافة اعلان During a meeting with JEPCO Board Chairman Othman Bdeir and Director General Hassan Abdullah, the Prime Minister stressed concerted action within the social responsibility framework, and sustained support for vital sectors, particularly health, education, and public transport, which will back up the state's efforts to improve services to citizens. Social responsibility, he stressed, is an "ongoing institutional approach that transcends governments, boards of directors, and the triangle of partnership between the private and public sectors and the local community." For his part, Bdeir pledged JEPCO's support for the social responsibility program, which reflects confidence in the government's national role and plans that will have a direct impact on public services. Abdullah also reviewed the company's efforts and future plans to improve service in line with the vision of economic modernization. The social responsibility project was launched in the month of Ramadan as an initiative by the Association of Jordanian Banks, which announced a donation of JD90 million over three years to support the health and education sectors. The Jordan Phosphate Mines Company followed with an allocation of JD40 million, then the Jordan Petroleum Refinery Company and the Jordan Duty Free Shops Company, each with a donation of 5 percent of profits to the project. The Arab Potash Company contributed JD30 million. The meeting was attended by Minister of State for Economic Affairs Muhannad Shehadeh and Secretary-General of the Prime Ministry Abdul Latif Najdawi. Petra
Zawya
22-04-2025
- Business
- Zawya
Jordan: JDF allocates 5% of profits over 3 years to social responsibility
AMMAN — Chairman of the Board of Directors of the Jordan Duty Free (JDF) Ayman Mufleh on Saturday said that the company's board of directors decided to allocate 5 per cent of the company's profits over a period of three years to enhance the development scope and institutionalise social responsibility. Mufleh stressed that this initiative will be allocated to support the education and health sectors as a contribution from the company in the construction and/or maintenance of schools, facilities and health centres. It also aims to keep pace with the increasing demand for these sectors in cooperation with the concerned public sector institutions and within the same mechanism that has been approved by companies and banks that have allocated funds for this purpose, he added. The chairman pointed out that a special bank account will be opened at the Central Bank of Jordan (CBJ) for this purpose, according to accounting principles, to spend on these projects and within the actual completion and time plans to ensure compliance with implementation, the Jordan News Agency, Petra, reported. He called on private sector companies and institutions to join efforts to institutionalise social responsibility, given its developmental impact and improving the services provided to citizens. The social responsibility project to support vital sectors, mainly the education and health sectors, began with the announcement of several initiatives in the presence of Prime Minister Jaafar Hassan. The project was initiated by the Association of Banks in Jordanian by allocating JD90 million, the Jordan Phosphate Mines Company allocated JD40 million, and the Jordan Petroleum Refinery Company allocated 5 per cent of its annual profits for this purpose. These initiatives, which come in addition to what is committed in the State Budget for the education and health sectors, will contribute to supporting the government's efforts to upgrade these two "vital" sectors and improve the services provided to citizens.
Jordan Times
19-04-2025
- Business
- Jordan Times
JDF allocates 5% of profits over 3 years to social responsibility
Jordan Duty Free decides to allocate 5 per cent of the company's profits over a period of 3 years to institutionalise social responsibility (Photo Courtesy of Jordan Duty Free) AMMAN — Chairman of the Board of Directors of the Jordan Duty Free (JDF) Ayman Mufleh on Saturday said that the company's board of directors decided to allocate 5 per cent of the company's profits over a period of three years to enhance the development scope and institutionalise social responsibility. Mufleh stressed that this initiative will be allocated to support the education and health sectors as a contribution from the company in the construction and/or maintenance of schools, facilities and health centres. It also aims to keep pace with the increasing demand for these sectors in cooperation with the concerned public sector institutions and within the same mechanism that has been approved by companies and banks that have allocated funds for this purpose, he added. The chairman pointed out that a special bank account will be opened at the Central Bank of Jordan (CBJ) for this purpose, according to accounting principles, to spend on these projects and within the actual completion and time plans to ensure compliance with implementation, the Jordan News Agency, Petra, reported. He called on private sector companies and institutions to join efforts to institutionalise social responsibility, given its developmental impact and improving the services provided to citizens. The social responsibility project to support vital sectors, mainly the education and health sectors, began with the announcement of several initiatives in the presence of Prime Minister Jaafar Hassan. The project was initiated by the Association of Banks in Jordanian by allocating JD90 million, the Jordan Phosphate Mines Company allocated JD40 million, and the Jordan Petroleum Refinery Company allocated 5 per cent of its annual profits for this purpose. These initiatives, which come in addition to what is committed in the State Budget for the education and health sectors, will contribute to supporting the government's efforts to upgrade these two "vital" sectors and improve the services provided to citizens.
Jordan Times
14-04-2025
- Business
- Jordan Times
NAMIC approves JD4m capital increase, plans expansion to JD40m
The National Arab Mining and Transformation Industries Company on Monday approves the first phase of a capital increase amounting to JD4 million (Photo Courtesy of NAMIC) AMMAN — The Board of Directors of the National Arab Mining and Transformation Industries Company (NAMIC) on Monday approved the first phase of a capital increase amounting to JD4 million. The company said that shareholders and board members, during an extraordinary meeting, agreed to increase the company's capital in two phases, the Jordan News Agency, Petra, reported. The first phase, limited to current founding shareholders, will raise the capital to JD5.4 million over a two-month period. The second phase, set to commence immediately after the first, will increase the capital to JD40 million an additional JD34.6 million through a private subscription that includes both existing and new shareholders. The meeting was chaired by JBA President Hamdi Tabbaa and attended by CEO Ayman Ayyash and all board members. NAMIC is a 'pioneering' initiative established by Jordanian and Arab business leaders to contribute to the implementation of the Kingdom's Economic Modernisation Vision, with a particular focus on advancing the mining sector and transformation industries.
Jordan Times
26-03-2025
- Business
- Jordan Times
JPRC commits 5% of annual profits to support health, education
The Board of Directors of the Jordan Petroleum Refinery Company (JPRC) allocates a corporate social responsibility initiative to support the health and education sectors over the next three years (Petra photo) AMMAN — The Board of Directors of the Jordan Petroleum Refinery Company (JPRC) has allocated a corporate social responsibility initiative to support the health and education sectors over the next three years, allocating 5 per cent of the company's annual profits to the effort. JPRC Chairperson Abdul Rahim Baqai emphasised that the decision reflects the company's national commitment, highlighting investment in health and education as a strategic priority for fostering long-term stability and societal advancement, the Jordan News Agency, Petra, reported. Baqai noted that the initiative aligns with JPRC's broader efforts to promote sustainable development and strengthen community partnerships. He reaffirmed the company's dedication to launching impactful projects that enhance health and education services across the Kingdom. The announcement comes amid a series of corporate social responsibility commitments from major Jordanian companies. The Association of Banks in Jordan recently pledged JD90 million to support health and education initiatives, while the Jordan Phosphate Mines Company allocated JD40 million earlier this week. Speaking recently at the launch of the Jordan Phosphate Mines Company's initiative, Prime Minister Jafar Hassan stressed that corporate social responsibility should extend beyond donations and charity to include sustainable development policies that address national priorities and long-term challenges. He commended the private sector's role in driving development efforts and encouraged further institutional participation in national initiatives. Page 2
