ALBAWABA - The Jordan Capital and Investment Fund (JCIF) is a private sector fund backed by 16 local banks in Jordan. It was established in 2021 with a capital commitment of 275 million dinars ($387.6 million) and was officially registered under the 2022 Investment Environment Law. The objective of the fund is to provide financing to promising Jordanian firms with growth, development, and expansion prospects. It aims to enhance job opportunities and contribute to nationwide growth.
As the country's first and largest private sector investment fund, the JCIF is designed to allocate funds to vital and promising sectors such as food and health security, manufacturing, and information and communication technology. The goal is to leverage Jordan's potential in these sectors and contribute to the country's economic development.
Hani Al-Qadi, the chairman of the Jordan Capital and Investment Fund, believes that the fund is crucial for achieving accelerated growth by fully utilizing Jordan's economic potential. He expressed confidence in Jordan as a promising investment market and emphasized the opportunities for targeted investments with measurable economic and social impacts.
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The JCIF's offices were inaugurated in November 2022 by Minister of Investment Kholoud Saqqaf and Central Bank of Jordan Governor Adel Sharkas. The fund then entered its establishment phase, finalizing policies, strategies, and appointing an investment committee, CEO, and a specialized executive team.
The Jordanian government, through the Ministry of Investment, fully supports the establishment of investment funds like the JCIF. They see these funds as contributing to stimulating and attracting investment capital to finance priority economic sectors with competitive advantages. The government believes that investment funds can help achieve economic and development goals, including economic growth, poverty reduction, and unemployment mitigation.
The official commencement of operations for the JCIF, including investments in Jordanian companies, was scheduled for 2023. The fund aims to support the Jordanian economy by focusing on productive sectors to generate job opportunities, increase exports, and promote development across different governorates.
