OFDF revenue up 4pct in 2022

Home Jordan News OFDF revenue up 4pct in 2022 30-01-2023 01:13 PM Ammon News - The Orphans Fund Development Foundation's (OFDF) revenues increased by 4.4 percent in 2022, topping JD12.628 million against JD12.097 million in 2021, "despite challenging circumstances facing investment institutions," said OFDF's Chairman Abdul Hafiz Rabta. In a statement on Monday, he added that the foundation's financing portfolio amounted to JD84.225 million, up by 10 percent from 2021. Moreover, he stated that the net profit available for distribution edged up by 6.5 percent to JD8.440 million from JD7.923 million recorded in 2021. Based on the financial results, the OFDF's board of directors decided to distribute profits to the deposit accounts of minor orphans at a rate of 4 percent, Rabta noted. The foundation's assets, he continued, rose by 5.3 percent to JD255.728 million against JD242.868 million in 2021, adding that the OFDF maintained an upward trajectory in profits after putting its investment plan into action.

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OFDF revenue up 4pct in 2022

30-01-2023 01:13 PM

Ammon News - The Orphans Fund Development Foundation's (OFDF) revenues increased by 4.4 percent in 2022, topping JD12.628 million against JD12.097 million in 2021, "despite challenging circumstances facing investment institutions," said OFDF's Chairman Abdul Hafiz Rabta.

In a statement on Monday, he added that the foundation's financing portfolio amounted to JD84.225 million, up by 10 percent from 2021. Moreover, he stated that the net profit available for distribution edged up by 6.5 percent to JD8.440 million from JD7.923 million recorded in 2021.

Based on the financial results, the OFDF's board of directors decided to distribute profits to the deposit accounts of minor orphans at a rate of 4 percent, Rabta noted.

The foundation's assets, he continued, rose by 5.3 percent to JD255.728 million against JD242.868 million in 2021, adding that the OFDF maintained an upward trajectory in profits after putting its investment plan into action.

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