Latest news with #JD48
Jordan News
03-08-2025
- Business
- Jordan News
Zarqa's re-exports reach JD48.5 million in July – Chamber of Commerce - Jordan News
The city of Zarqa recorded notable commercial activity in July, with re-exported goods valued at JD48,572,596, according to Hussein Shreim, President of the Zarqa Chamber of Commerce. اضافة اعلان In a press statement on Sunday, Shreim said that the bulk of Zarqa's exports last month consisted primarily of vehicles and related accessories, which topped the list of re-exported items. These were followed by construction materials, sanitary ware, pharmaceuticals and medical supplies, food products, clothing and jewelry, electrical and electronic appliances, home and office furniture, as well as stationery. He added that the Chamber, in cooperation with its office in the free zone, issued 360 certificates of origin during July, based on official statistics released by the Chamber.
Roya News
19-06-2025
- Business
- Roya News
Jordan sees 35% rise in new company registrations in early 2025
Jordan witnessed a strong uptick in business activity during the first five months of 2025, with official data showing a significant rise in company registrations and capital inflows, alongside a sharp drop in closures. Figures released by the Companies Control Department revealed that 2,980 new companies were registered between January and May this year. This marks a 35 percent increase compared to the same period in 2019 and a 13 percent rise from 2024, when 2,213 and 2,635 companies were registered, respectively. Limited liability companies dominated the scene, making up 72.4 percent of all new businesses. A total of 2,158 LLCs were registered during the period, with combined capital exceeding JD48 million. Overall, the total registered capital for new companies this year surpassed JD130 million. Alongside the rise in new registrations, Jordan also saw a dramatic slowdown in company closures. Only 478 businesses were dissolved or deregistered in the first five months of 2025, an 84 percent decrease compared to the 2,390 closures reported in 2019 and a 46 percent drop from the 878 closures recorded last year. Investment activity also showed notable momentum, with a net capital increase of JD727 million recorded between January and May. That figure reflects a staggering 1,133 percent rise compared to 2019 and a 293 percent jump over last year, when net capital increases stood at JD85 million and JD229 million, respectively. The number of companies that opted to reduce their capital declined as well, with just 127 doing so in 2025, compared to 243 in 2019. Meanwhile, 750 companies increased their capital during the same period, more than doubling the 288 recorded in 2019.
Jordan News
19-06-2025
- Business
- Jordan News
Jordan sees 35% surge in new company registrations - Jordan News
Jordan recorded a 35 percent increase in newly registered companies during the first five months of 2025 compared to the same period in 2019 and a 13 percent rise over the same period last year, according to official data from the Companies Control Department. اضافة اعلان A total of 2,980 companies were registered between January and May 2025, up from 2,213 during the same months in 2019 and 2,635 in 2024. The total capital registered during the first five months of this year exceeded JD130 million. Limited liability companies were the most commonly registered business type in 2025, accounting for 2,158 companies, or 72.4 percent of the total, with over JD48 million in registered capital. The data also showed a dramatic decline in company closures. Just 478 companies were dissolved or deregistered during the period, marking an 84 percent drop compared to 2019 and a 46 percent decrease from last year, when 2,390 and 878 companies, respectively, were struck off. There was also a significant uptick in capital increases, with a net capital gain of JD727 million recorded between January and May 2025. This represents a 1,133 percent increase over the same period in 2019 and a 293 percent increase over 2024, when net capital increases stood at JD85 million and JD229 million, respectively. The number of companies that reduced their capital fell to 127 this year, down from 243 in 2019. Meanwhile, 750 companies increased their capital in the first five months of 2025, more than double the 288 recorded during the same period in 2019.
Jordan Times
13-02-2025
- Business
- Jordan Times
Islamic Insurance Company shareholders' profits total JD2.8m in 2024
The IIC's total assets in 2024 amount to about JD52 million compared with around JD48 million in 2023, with a growth rate of 8 per cent (Photo courtesy of the Islamic Insurance Co) AMMAN — The Islamic Insurance Company (IIC) achieved "good" preliminary financial results at the end of 2024, as shareholders' profits before tax reached JD2.876 million, compared with JD2.550 million for 2023, marking a growth rate of some 13 per cent. The IIC's total assets for 2024 amounted to about JD52 million compared with around JD48 million for 2023, with a growth rate of 8 per cent, while shareholders' equity amounted to JD23.6 million compared with JD23.1 million for 2023, which equals 143 per cent of the company's capital. ICC General-Manager Rida Dahbour said that the company achieved sustainable growth in its various financial indicators and insurance activities, and the company worked during 2024 to maintain sufficient reserves to face risks in order to support business growth and improve profitability, the Jordan News Agency, Petra, reported. Dahbour added that all reinsurance agreements with major reinsurance companies were renewed and the agreements expanded for 2025, confirming the great confidence that the company enjoys in the local and global market, in addition to the company's obtaining a credit rating, with a grade of (A++) and a stable future perspective. These achievements also contributed in the company winning the award for the "best Takaful insurance company in Jordan" for 2024 for the fourth consecutive year, according to World Finance international magazine. Also, the ISO certificate license for the quality management system, applied in the company, was renewed so that the company provides all its insurance services in accordance with the latest international quality standards and in accordance with the international ISO 9001:2015 standard, Petra added.
Jordan Times
08-02-2025
- Business
- Jordan Times
Why is Jordan increasing the Central Bank's capital?
The Central Bank of Jordan has been experiencing notable growth. By the end of 2024, its assets reached JD19.3 billion, with JD16.8 billion in foreign assets. The country's foreign currency reserves also surpassed $21 billion, enough to cover more than 8 months of imports, well above the global standard of three months. Banking indicators have also shown positive trends, with customer deposits rising by 2.8 per cent and bank loans growing by 2.4 per cent, totaling JD34 billion. In light of this growth, the government has decided to increase the Central Bank's capital from JD48 million to JD100 million. This move is aimed at strengthening the bank's financial position, enabling it to manage its expanding assets more effectively. A higher capital base will also help the bank tackle economic challenges and continue to support the national economy. The strong financial indicators point to the health of Jordan's economy. For instance, the bank's capital adequacy ratio stands at 17.6 per cent, indicating it has sufficient funds to handle risks. Additionally, the non-performing loans to total loans ratio is just 5.6 per cent, and the coverage ratio for bad loans is 73 per cent. The bank's liquidity ratio, at 138 per cent, shows its ability to meet short-term liabilities, further reflecting a stable banking system and a strong economy. Historically, the Central Bank of Jordan has seen significant growth. In 1993, its assets were just JD2.8 billion, with a capital of JD18 million. By 2013, assets had risen to JD13.2 billion, and the capital had increased to JD48 million. By 2024, assets reached JD19.3 billion, prompting another capital increase to JD100 million. This move is essential for the bank to keep pace with the country's financial system growth and maintain stability. The decision to increase the Central Bank's capital reflects a strong banking system. Higher foreign reserves signal economic growth, boosting confidence in the country's financial stability. These reserves are sourced from exports, tourism, foreign investments, and remittances from Jordanians abroad. A more robust Central Bank allows for better management of the economy, ensuring stability and resilience in the face of financial challenges. As Jordan anticipates potential shifts in the global economy, such as changes in major economies' policies or a decrease in foreign aid, the country remains prepared. The government is also preparing for a financial review by the International Monetary Fund (IMF). A stable and growing financial system is crucial for Jordan to maintain its reputation and stability in the global market. Raad Mahmoud Al Tal is head of the Economics Department – The University of Jordan Page 2
