No shares have been sold

Jordanian Labour Minister defends changes

GMT 14:31 2012 Tuesday ,04 September

Arab Today, arab today Jordanian Labour Minister defends changes

Chairman of Social Security Corporation and Jordanian Labour Minister, Dr Atef Odibat
Amman - Osama Al Rantissi

Chairman of Social Security Corporation and Jordanian Labour Minister, Dr Atef Odibat Chairman of Social Security Corporation and Jordanian Labour Minister, Dr Atef Odibat held a press conference today to deny the reports published by various media about the reasons for ending the contract with the ex-directors of the Corporation, Dr Maan Al Nassor - the Director of the Corporation and Yasser Al Adwan - the Director of the Security Fund. This came after Nadia Al Rawabdeh (daughter of the former Jordanian Prime Minister, Abdul Raauf Rawabdeh) was appointed as a Director General with Dr Henry Azzam appointed as the Director of the Security Investment Fund.
In the press conference attended by both Nadia Rawabdeh and Dr Henry Azzam, he said: “This change in the corporation is one that occurs in various state institutions.  They were carried out according to the laws and regulations as well as the powers granted to the cabinet that represents the people.”
However many media reports had suggested that the modifications were a result of a change in the direction of the investment fund as the matter of selling shares of the Jordanian Social Security Corporation to Housing and Arab banks has preoccupied the Jordanian street for the past two days.
Odibat stated that the directors were not able to take any decision concerning investment, as those specific decisions are taken through committees and boards of directors in the Corporation. He also denied any current decision concerning investments, affirming that he did not and will not put pressure on the security departments. In addition to this, Odibat denied selling any shares of the Security Corporation to the Housing and Arab Banks as well as the presence of any new intention towards foreign investment, despite what had been published in the press.
Director of Investment Fund, Dr Henry Azzam, affirmed that his appointment decision was issued last week and stressed that there had not been any pressure or conditions for his appointment.
Director General, Nadia Rawabdeh also added her comments stating that she has been working in the corporation for around 26 years and has participated in the preparation of its law and drafting amendments. She also emphasised that neither she nor those who were working on the law had received any kind of pressure concerning any items in the law and the corporation was free to formulate and draft the law.
It was confirmed that the next Board of Directors of the Fund meeting will be held on 18 September and will look into tackling the issue of the Housing Bank.

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