Amman, Jan. 29 (Petra) – The Orphans Fund Development Corporation’s (OFDC) revenues climbed by over 6% last year to JD14.43 million, compared to JD13.64 million in 2023, marking a rise of approximately JD781,680.

According to a corporation statement on Wednesday, it continues to strengthen its role in preserving and growing orphan funds while actively contributing to Jordan’s economic and administrative modernization goals. The corporation aims to translate royal directives on development and modernization into actionable plans and programs that yield tangible financial benefits for orphans’ deposits and contribute to national economic growth.

Chief Islamic Justice and Chairman of the Corporation’s Board of Directors, Abdul Hafiz Al-Rabta, stated that net profits saw significant growth, reaching JD10.91 million, compared to JD9.66 million in 2023, representing an increase of JD1.25 million (13%).

The Board of Directors approved a 4.6% profit distribution for 2024 on deposits belonging to 45,100 orphaned minors.

Al-Rabta highlighted the corporation’s commitment to improving citizens’ living conditions by providing housing solutions and job opportunities through Murabaha (Islamic cost-plus financing) and lease-to-own financing schemes. The total financing granted in 2024 amounted to JD34.61 million. He noted that the corporation follows best investment practices, enhancing its financial strength and capital base to sustain its mission and address challenges while aligning with Jordan’s modernization agenda in politics, economy, and administration.

He further emphasized the corporation’s commitment to continuous development, aiming to digitize all its services by the end of this year to enhance operational efficiency, streamline procedures, and improve service quality.

//Petra// AF
29/01/2025 20:39:41