Jordan's Social Security Fund Denies Funding Embassy Buildings

Jordan's Social Security Investment Fund (SSIF) has refuted claims that it financed the purchase or construction of Jordanian embassy buildings abroad.

In a press release issued Tuesday, the SSIF clarified that all its investment decisions are made within clear institutional governance frameworks, based on specialized studies and approvals. The fund emphasized that any investment project approved and implemented is officially announced, adhering to principles of disclosure and transparency.

The SSIF stated that information regarding its investments and performance results is publicly available through its website and published annual reports. It urged the public to obtain information from official sources and avoid circulating fragmented or out-of-context details.

The fund addressed a proposal from 13 years ago concerning the financing of Jordanian missions abroad. The proposal, based on the principle of financial leasing, involved the SSIF owning the property and leasing it to the Jordanian government, generating a stable, long-term investment return for the fund.

According to the proposal, the Jordanian government would make rental payments to the SSIF throughout the lease term, with ownership of the property transferring to the government upon completion of the financing period and full payment of these installments.

The SSIF stressed that this idea was never approved or implemented. The study and evaluation process revealed that several legal and procedural requirements related to the nature of the project were incomplete, preventing the fund from making a final investment decision. Consequently, the project was not pursued under the existing circumstances.