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Jan 07,2024
Jordanian Banks Register First Investment Fund in Jordan in Accordance with Investment Environment Law of 2022
Amman, Jordan

Amman, January 2024: A consortium of 16 Jordanian banks has formally registered the first investment fund in Jordan on December 31st, 2023 - the Jordan Capital and Investment Fund (JCIF) - at the Ministry of Investment in accordance with the Investment Environment Law of 2022. JCIF has a committed capital of JOD 275 million (USD 388 million), making it the largest private-sector investment fund in Jordan.

JCIF aligns with the goals and aspirations of Jordan’s Economic Modernization Vision and aims to invest in pioneering companies with growth, development, and expansion opportunities by providing fresh capital to help increase employment and promote economic growth across Jordan. JCIF will target investments in dynamic and promising sectors and high-value industries, such as food and health security, manufacturing, and information and communications technology (ICT), with the goal of unleashing Jordan’s potential to build for the future.

JCIF Chairman, Hani Qadi, emphasized that the fund is a key enabler toward realizing the strategic objectives of accelerated growth by unleashing Jordan’s full economic potential. He stated, “We fully believe in Jordan’s potential as a promising investment market. We see opportunities to make meaningful investments that generate a measurable and beneficial economic and social impact, alongside a healthy financial return on our investments. Our attention will be on investing in companies that create high-paying skilled job opportunities, grow export markets, and show potential for regional expansion.”

JCIF CEO, Faris Sharaf, commented, “JCIF has already invested significantly in the ICT sector with our first flagship investment in Aqaba Digital hub. We are in the process of finalizing details for additional investments totaling around JOD 55 million, which are expected to be closed over the coming months. Our upcoming investments will focus primarily on the food and agricultural sector, with considerations for investments in educational technology (EdTech), packaging, pharmaceuticals, and high-value manufacturing.”