Latest news with #JordanChamberof
Jordan News
03-06-2025
- Business
- Jordan News
Jordanian Expats' Remittances Drive Increased Demand for Dinar Ahead of Eid - Jordan News
Jordanian Expats' Remittances Drive Increased Demand for Dinar Ahead of Eid Firas Sultan, the representative of the financial and banking sector at the Jordan Chamber of Commerce, confirmed a noticeable surge in demand for the Jordanian dinar at local exchange companies ahead of Eid al-Adha and the summer season. اضافة اعلان Sultan attributed this uptick to a significant increase in remittances from Jordanian expatriates, which typically double during festive periods to support their families during the holiday. This results in a higher conversion of foreign currencies into dinars. He emphasized that these remittances are a key source of foreign currency for the local market and directly contribute to strengthening monetary reserves, while also boosting the purchasing power of Jordanian households—especially as they prepare for Eid. According to data from the Central Bank of Jordan, remittances from Jordanians abroad rose by 3% in the first quarter of this year, reaching $889 million. Sultan also noted that the return of thousands of Jordanian expats to spend the Eid holiday in the Kingdom, along with increased tourism activity, further drives demand for the dinar. He stressed the importance of this financial activity in supporting the national economic cycle. He praised the Central Bank's prudent monetary policy and its role in maintaining confidence in the local currency, highlighting ongoing communication between the Chamber and the Bank to address challenges faced by the sector. —(Petra)
Ammon
03-06-2025
- Business
- Ammon
Demand for Jordanian dinar surges ahead of Eid holiday
Ammon News - Demand for the Jordanian dinar is "significantly" increasing at exchange agencies in the local market, ahead of Eid al-Adha holiday and the start of the summer season, representative of financial and banking sector at the Jordan Chamber of Commerce (JCC), Firas Sultan, said. Sulatn noted the activity is primarily due to the "crucial" increase in remittances from Jordanian expatriates, which "typically double" during those periods to meet their families' needs during the holiday. Sulatn indicated that this growth is reflected in the increased volume of foreign currency exchange in favor of the Jordanian dinar. "These remittances are a main source of foreign currency in the local market and directly contribute to strengthening monetary reserves and supporting the purchasing power of Jordanian households, especially amid Eid preparations," he pointed out. According to data from the Central Bank of Jordan (CBJ), remittances from Jordanian expatriates increased by 3% during the first quarter of this year, reaching $889 million. The bank added that the return of thousands of Jordanian expatriates to spend their holidays in the Kingdom during the Eid holiday and the increased tourist activity contribute to increased demand for the dinar, stressing the importance of this financial activity in supporting the Kingdom's economic cycle. Sultan also praised the CBJ's "key" role and its "prudent" policy in maintaining Jordan's monetary policy and enhancing confidence in the local currency.
Ammon
28-05-2025
- Business
- Ammon
Jordan explores energy investment opportunities with Syria
Ammon News - A Jordanian economic delegation visiting Damascus held talks with Syria's Minister of Oil and Mineral Resources, Mohammad Al-Bashir, to explore opportunities for cooperation in energy projects, particularly in renewable energy. The meeting, attended by Jordan's Chargé d'Affaires in Damascus, Basel Al-Kayed, focused on potential investments in electricity, gas, oil derivatives, mining, engineering consultancy, and clean energy. Discussions aligned with Syria's broader efforts to diversify its energy sources and attract international partnerships. The delegation, headed by Jordan Chamber of Commerce President Khalil Al-Haj Tawfiq, was briefed on Syria's current and planned projects in the electricity, water, and domestic gas sectors. Al-Bashir expressed appreciation for Jordan's longstanding support, including its early role in hosting Syrian refugees and facilitating the delivery of gas to Syria. He described the Jordanian contribution as a reflection of deep, brotherly ties. He also emphasized Syria's openness to expanding investment partnerships, especially in renewable energy, where Jordanian companies have developed notable expertise. Al-Bashir noted that the recent easing of U.S. and European sanctions on Syrian oil institutions could help accelerate the sector's recovery and infrastructure development, potentially paving the way for new investment. Syria is currently reviewing proposals for alternative energy projects with a projected capacity of 300 megawatts. In the coming months, the government is expected to sign agreements with several international companies for projects in oil, renewable energy, and electricity, including plans to build a new oil refinery. Speaking on behalf of the delegation, Al-Haj Tawfiq said the visit reflects the private sector's commitment to redefining the economic relationship between the two countries and supporting Syria's post-crisis recovery. He underscored the importance of drawing on Jordan's experience in renewable energy to support investment, reduce production costs, and spur economic growth. The delegation also included senior representatives from Jordan's trade and industrial sectors. Hassan Al-Hiyari, CEO of the Jordan Petroleum Refinery Company, confirmed the company's readiness to supply fuel to southern Syria, emphasizing Jordan's role in delivering gas at competitive prices. Additional members of the delegation, including representatives from the Irbid Chamber of Commerce and sectors such as electronics, furniture, and water infrastructure, shared proposals for joint initiatives and stressed the value of Jordanian technical expertise in power, water, and sanitation projects.
Zawya
25-04-2025
- Business
- Zawya
Jordan, UAE explore enhanced trade, investment ties
AMMAN: The Jordan Chamber of Commerce (JCC) and the United Arab Emirates embassy in Amman discussed ways to deepen trade and investment cooperation between the two countries. JCC President Khalil Hajj Tawfiq met with Counselor Hamad Al Matrooshi, Charge d'Affaires at the UAE embassy, to explore potential partnerships between Jordanian and Emirati businesses. The discussion focused on expanding bilateral economic collaboration in line with both countries' development goal, the Jordan News Agency, Petra, reported. Hajj Tawfiq highlighted the diverse investment opportunities available in Jordan, particularly in sectors identified under the Economic Modernisation Vision (EMV). He said these sectors offer attractive prospects for Emirati investors and emphasised the government's ongoing efforts to support foreign investment and streamline business operations. "The UAE is a key economic partner for Jordan," Hajj Tawfiq said, adding: "We look forward to strengthening coordination with the UAE embassy to encourage greater Emirati investment in strategic sectors across the Kingdom." He encouraged Emirati companies to consider expanding their investments beyond the capital and into the governorates, particularly in tourism, agriculture and industry. Hajj Tawfiq also called for increased economic delegation exchanges and direct engagement between private sector institutions to identify mutual opportunities and establish joint ventures. The JCC president proposed hosting an economic forum in Jordan in the near future to showcase investment and trade opportunities to Emirati businesses. Matrooshi reaffirmed the UAE's interest in enhancing economic cooperation with Jordan, noting the importance of private sector collaboration in expanding trade and investment flows. "There is strong potential to grow our economic partnership," he said, adding that the UAE embassy has a specialised team in place to support investors and businesses seeking to establish a presence in the UAE and connect with local partners. He also emphasised the importance of continued coordination between both countries to capitalise on current opportunities, affirming that Emirati companies are serious about investing in Jordan across multiple sectors. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Jordan Times
24-04-2025
- Business
- Jordan Times
Jordan, UAE explore enhanced trade, investment ties
The Jordan Chamber of Commerce and the United Arab Emirates embassy in Amman discuss ways to boost trade and investment cooperation between the two countries (Petra photo) AMMAN — The Jordan Chamber of Commerce (JCC) and the United Arab Emirates embassy in Amman discussed ways to deepen trade and investment cooperation between the two countries. JCC President Khalil Hajj Tawfiq met with Counselor Hamad Al Matrooshi, Charge d'Affaires at the UAE embassy, to explore potential partnerships between Jordanian and Emirati businesses. The discussion focused on expanding bilateral economic collaboration in line with both countries' development goal, the Jordan News Agency, Petra, reported. Hajj Tawfiq highlighted the diverse investment opportunities available in Jordan, particularly in sectors identified under the Economic Modernisation Vision (EMV). He said these sectors offer attractive prospects for Emirati investors and emphasised the government's ongoing efforts to support foreign investment and streamline business operations. "The UAE is a key economic partner for Jordan," Hajj Tawfiq said, adding: "We look forward to strengthening coordination with the UAE embassy to encourage greater Emirati investment in strategic sectors across the Kingdom." He encouraged Emirati companies to consider expanding their investments beyond the capital and into the governorates, particularly in tourism, agriculture and industry. Hajj Tawfiq also called for increased economic delegation exchanges and direct engagement between private sector institutions to identify mutual opportunities and establish joint ventures. The JCC president proposed hosting an economic forum in Jordan in the near future to showcase investment and trade opportunities to Emirati businesses. Matrooshi reaffirmed the UAE's interest in enhancing economic cooperation with Jordan, noting the importance of private sector collaboration in expanding trade and investment flows. "There is strong potential to grow our economic partnership," he said, adding that the UAE embassy has a specialised team in place to support investors and businesses seeking to establish a presence in the UAE and connect with local partners. He also emphasised the importance of continued coordination between both countries to capitalise on current opportunities, affirming that Emirati companies are serious about investing in Jordan across multiple sectors.
