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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
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
Ammon
26-03-2025
- Business
- Ammon
The private sector and social responsibility: A new phase
Prime Minister Jaafar Hassan is seeking to establish new traditions and concepts in social responsibility and the national role of the private sector, companies, and capital in Jordanian policies. His approach involves having this sector contribute a portion of its profits to support major economic and service-related projects. According to sources close to the Prime Minister, the amount raised so far is nearly JD130 million over three years, and this figure is expected to increase. The funds will be allocated to major economic and service-oriented projects. The largest contributor to date has been the Association of Banks, which took the initiative to donate JD90 million over three years for projects related to health and education. Other major national institutions and large companies have also donated millions of dinars to support the Jordanian treasury. This effort is also an attempt to bridge the gap caused by the decline in US aid and funding from the U.S. Agency for International Development (USAID). While some financial assistance has returned for infrastructure projects such as the national carrier project, there are still other areas where the future remains unclear. Regardless of US aid, this kind of cooperation and involvement from the private sector is expected to become a foundational pillar in building the political and social fabric of the country. It is not just about the financial support offered for essential sectors like education, health, and services. While the private sector and major companies have contributed to developmental and humanitarian efforts in the past, those contributions were often ad hoc, impulsive, and individual in nature. However, when such efforts are organized into a large collective framework with clear priorities and project outlines, their impact can be significantly greater. It is not an exaggeration to say that instilling such traditions is extremely important—not only economically, but also in defining a healthy relationship rooted in national solidarity and mutual support. This forms an integral part of what is called 'social capital,' whose value is no less than that of financial capital. First, it strengthens the sense of national, social, and moral duty among private sector actors, investors, and companies, reinforcing their feeling that they are an inseparable part of the national fabric. On the other side, it enhances public appreciation of the private sector's role in national development, helping reduce the sense of class disparity among poorer or lower-middle-class groups, and contributes to building a stronger internal national front. One of the most prominent political theorists today, Francis Fukuyama, argues that economic aspects cannot be separated from cultural, social, and political dimensions. In his acclaimed book Trust: The Social Virtues and the Creation of Prosperity, Fukuyama discusses how local cultures influence the development and reinforcement of economic growth, and how social values play a crucial role during national and economic crises. He provides important examples from countries like the United States, Japan, and Germany to illustrate how wealthy companies and the industrial sector stood by the state and supported the poor and the national economy during critical turning points. One of the key themes Fukuyama explores, echoing the famous work of Max Weber The Protestant Ethic and the Spirit of Capitalism, as well as many of Weber's writings linking cultural and ethical dimensions to economic revival, is the major influence of cultural values and ethics on economic performance and national solidarity. This influence extends even to economic competitiveness and the promotion of domestic industries without the need for laws or regulations, as seen in Japan. Such fundamental and significant dimensions may not have received sufficient attention in Jordan in past stages, but now is the time to reconsider and focus on them, especially in the current era, with the early signs of global economic and trade wars. While these may not directly affect Jordan at the moment, their future impact is inevitable. This calls for a new perspective on the economy, development, and the role of the private sector. Hopefully, Prime Minister Hassan's ideas about institutionalizing new traditions will serve as a prelude to this important transformation.
