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Orphans corporation’s income at JD10m by Q3 of 2022

Orphans Fund Development Corporation
(File photo: Jordan News)
AMMAN — The total revenues of the Orphans Fund Development Corporation (OFDC) increased to JD10.6 million by the end of the third quarter of 2022 against JD9.4 million in the same period in 2021, resulting in a net profit of JD7.6 million, up 10 percent from JD6.4 million in 2021, according to the Jordan News Agency, Petra.اضافة اعلان

In a statement released on Sunday, OFDC Chairman Abdul Hafiz Rabta stated that the corporation has adopted a new strategy for managing orphans’ funds by focusing on investments, which increased by 7.7 percent to JD246 million from JD228 million by the end of 2021.

The OFDC’s assets, he noted, nudged up by 4.5 percent by the end of 2022’s third quarter, reaching JD253 million compared to JD242 million by the end of 2021.

Rabta said that the corporation’s new strategy included launching competitive financing programs that meet the needs of the institution’s clients, while maintaining the same preferential rates, as well as providing financing programs for the Public Security Department’s personnel.

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Jordan News