JDF allocates 5% of profits over 3 years to social responsibility
Jordan Duty Free decides to allocate 5 per cent of the company's profits over a period of 3 years to institutionalise social responsibility (Photo Courtesy of Jordan Duty Free)
AMMAN — Chairman of the Board of Directors of the Jordan Duty Free (JDF) Ayman Mufleh on Saturday said that the company's board of directors decided to allocate 5 per cent of the company's profits over a period of three years to enhance the development scope and institutionalise social responsibility.
Mufleh stressed that this initiative will be allocated to support the education and health sectors as a contribution from the company in the construction and/or maintenance of schools, facilities and health centres.
It also aims to keep pace with the increasing demand for these sectors in cooperation with the concerned public sector institutions and within the same mechanism that has been approved by companies and banks that have allocated funds for this purpose, he added.
The chairman pointed out that a special bank account will be opened at the Central Bank of Jordan (CBJ) for this purpose, according to accounting principles, to spend on these projects and within the actual completion and time plans to ensure compliance with implementation, the Jordan News Agency, Petra, reported.
He called on private sector companies and institutions to join efforts to institutionalise social responsibility, given its developmental impact and improving the services provided to citizens.
The social responsibility project to support vital sectors, mainly the education and health sectors, began with the announcement of several initiatives in the presence of Prime Minister Jaafar Hassan.
The project was initiated by the Association of Banks in Jordanian by allocating JD90 million, the Jordan Phosphate Mines Company allocated JD40 million, and the Jordan Petroleum Refinery Company allocated 5 per cent of its annual profits for this purpose.
These initiatives, which come in addition to what is committed in the State Budget for the education and health sectors, will contribute to supporting the government's efforts to upgrade these two "vital" sectors and improve the services provided to citizens.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Jordan News
3 days ago
- Jordan News
Central Bank: Interest Rates Remain Unchanged - Jordan News
The Open Market Operations Committee of the Central Bank of Jordan held its fourth meeting for the year 2025, during which it assessed local economic, monetary, and banking developments, as well as regional and international economic conditions and the potential impact of ongoing geopolitical tensions on the Jordanian economy. اضافة اعلان Based on its review, the committee decided to maintain the current interest rates on monetary policy instruments without any change. The committee emphasized the Central Bank's ongoing close monitoring of all developments and reaffirmed its commitment to applying monetary and banking policies and procedures that ensure monetary stability and the soundness of the banking sector, thereby supporting overall macroeconomic stability. Macroeconomic indicators reflected the strength and resilience of Jordan's economic and monetary performance. The Central Bank's foreign reserves stood at USD 22.8 billion at the end of May 2025, sufficient to cover 8.8 months of the Kingdom's imports of goods and services. Inflation rates were also contained, remaining close to 2% during the first five months of the year. Banking sector indicators also showed strength, with a solid capital base and high-quality investment portfolios. Total customer deposits rose by 6.8% year-on-year to reach JOD 47.3 billion by the end of April 2025. Credit facilities extended by banks also grew by 3.4% year-on-year, reaching approximately JOD 35.2 billion. The external sector showed positive developments as well. Total exports recorded a significant growth of 11.6% in the first quarter of 2025, reaching USD 3.3 billion. Tourism revenue rose by 15.7% in the first five months of the year, totaling USD 3.1 billion. Additionally, remittances from Jordanians abroad increased by 3.0% in the first four months, amounting to USD 1.2 billion.
Jordan News
12-06-2025
- Jordan News
Jordan's Tourism Revenue Reaches $3.1 Billion in First Five Months of 2025 - Jordan News
Preliminary data from the Central Bank of Jordan indicates that tourism revenue surged by 17.5% in May 2025, reaching $630 million. This brought total revenue for the first five months of the year to $3.06 billion, marking a 15.7% year-on-year increase. The growth is largely attributed to a 20.6% rise in tourist arrivals. اضافة اعلان Breakdown of Tourism Revenue Growth by Visitor Nationality: Jordanian expatriates: +3.8% European nationalities: +29.5% American visitors: +20.7% Arab visitors: +16.9% Other nationalities: +42.1% Outbound Tourism and Remittances: Spending on outbound tourism rose by 11.1% in May 2025 to $158.3 million, and by 12.5% during the first five months to reach $804.2 million. Remittances from Jordanian expatriates also increased by 3.1% in April, totaling $292.2 million, with a 3.0% rise in the first four months of 2025, amounting to $1.18 billion. These figures reflect a strong rebound in both inbound tourism and expatriate remittances, contributing positively to Jordan's external income and economic stability.
Ammon
12-06-2025
- Ammon
Jordan's tourism revenue records $3.1 billion in five months
Ammon News - Tourism revenues increased by 17.5% in May 2025, reaching $630.0 million, and recorded a 15.7% increase during the first five months of 2025, reaching $3 billion and 57.3 million. This increase is due to a 20.6% increase in the number of tourists, according to a preliminary data issued by the Central bank of Jordan (CBJ). The data showed an increase in tourism income from all nationalities, including Jordanian expatriates by 3.8%, European nationalities 29.5%, Americans 20.7%, Arabs 16.9%, and other nationalities 42.1%. Additionally, the data also showed an 11.1% increase in spending on tourism abroad during May 2025, reaching $158.3 million, and a 12.5% increase during the first five months of 2025, reaching $804.2 million.
