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Corporate governance practices for banks discussed at SSIF-CBJ forum

By : JD

Jordan Daily – Social Security Investment Fund (SSIF) held a forum on Sunday to discuss corporate governance practices for banks, in cooperation with the Central Bank of Jordan (CBJ).

The forum, which was attended by SSIF representatives in the boards of directors and executive bodies of companies and banks, aimed to enhance the business environment and support economic growth through institutionalizing corporate governance and sustainable development principles.

SSIF CEO Dr. Ezzeddin Kanakrieh said the fund has a strategic stake in 13 commercial and Islamic banks, which accounted for about 44% of its public contributions portfolio , praising  the CBJ’s role in strengthening the banking sector’s resilience and monetary policy stability.

He also said the fund has recently amended its guiding manual for its representatives in the boards of directors of companies, setting a minimum of 15% for women’s representation and requiring periodic reports on environmental, social and institutional governance standards and sustainable development goals.

The forum discussed the CBJ’s corporate governance instructions for banks and their recent amendments, and the role of the bank’s board of directors in setting the bank’s objectives, policy and strategic plans, and monitoring the performance of the executive management.

SSIF’s total portfolio also includes investments in mining, energy, real estate, tourism, agriculture, services, industry and development areas, as well as financing major projects in health, transportation and logistics through financial leasing.

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