The Saudi Jordanian Investment Fund (SJIF) held its sixth Annual General Assembly meeting via teleconference on Thursday, May 4, 2023. Mr. Hisham Attar, the Chairman of SJIF, chaired the meeting, which was attended by shareholders, the Board of Directors, senior management, the Companies Controller Department representative, and the company’s external auditors, KPMG.
At the meeting, shareholders were briefed on the progress of SJIF’s investment projects and plans for 2023.
In his remarks during the meeting, Attar indicated that SJIF announced its USD 400 million flagship healthcare project in 2022, after signing agreements with the Jordanian government and international partners, to implement the project, which will consist of a general academic hospital with 300 beds and a medical university with a total capacity of 600 students and an annual student intake of 100 students.
Attar emphasized that SJIF will continue collaborating with the Jordanian government and the private sector to explore long-term investment opportunities in key sectors that hold sustainable economic and developmental impact.
The General Assembly meeting further discussed and approved the Board of Director’s report and the audited annual financial statements for 2022. It also approved absolving the Board of Directors from liability for the fiscal year ending December 31, 2022, and appointed KPMG as the external auditors for the fiscal year 2023.
The Saudi Jordanian Investment Fund is a Jordanian Limited Public Shareholding Company formed in 2017 as a partnership between the Public Investment Fund of Saudi Arabia and Jordanian banks. The company was registered per the Jordan Investment Fund Law No. (16) of 2016, and its formation was an outcome of the Saudi Jordanian Cooperation Council, and the MOU signed between the Public Investment Fund of Saudi Arabia and the Jordan Investment Fund on August 25, 2016.
The company’s Memorandum of Association and Articles of Association were signed during the visit of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, to the Hashemite Kingdom of Jordan on March 27, 2017, in the presence of His Majesty King Abdullah II, at the Royal Hashemite Court in Amman.
SJIF’s investment strategy focuses on three verticals: infrastructure projects based on a public-private partnership (PPP) framework, strategic sectors including healthcare, information technology, and tourism, and growth capital investments supporting the expansion of promising Jordanian companies.