كلمة الرئيس
At the local level, the economic file has witnessed many achievements, despite all the challenges and uncertainty that the world and the region are going through, as Jordan continued the process of economic reform, moving forward with the implementation of the outputs of the executive program of the vision of economic modernization (2023-2025), and was able to maintain a stable credit rating by many credit rating institutions despite the challenges witnessed by the world and the region, inflation rate decreased to 2.1% during 2023 compared to 4.2% In 2022, many economic indicators achieved positive performance, led by the tourism sector, with the economy expected to grow by 2.6% during 2023.
Dear Shareholders,
The establishment of the Jordan Mortgage Refinance Company came at the initiative of the government and with the support of the Central Bank of Jordan and expresses the truest expression of joint efforts between the public and private sectors to serve the housing sector, which is one of the most prominent sectors of the national economy, and moreover, JMRC constitutes a new and important link between the money market with the capital market.
The main objective of JMRC is to provide financing, medium and long-term, to banks and financial companies that grant real estate and housing loans, and the company provides the necessary funds for its lending activity from its various sources of funds, the most important of which is the proceeds of bonds issuances in the local capital market.
In confirmation, JMRC's efforts during the year 2023 resulted in granting refinance loans in the amount of (41.5) million dinars, bringing the total value of loans granted by JMRC since inception to (2.347) billion dinars and the outstanding balance of refinance loans on 31/12/2023 amounted to (500) million dinars.
During 2023, JMRC issued (41.500) million dinars of bonds in the local capital market, bringing the value of the bonds issued since inception to (2.434) billion dinars. The outstanding balance of JMRC's issuances on 31/12/2023 amounted to (480) million dinars.
Therefore, according to JMRC closing financial statements as at the end of 2023, the company was able to achieve unprecedented financial results, as the net profit before tax increased by (4.28%) to reach (6.409) million dinars, which is the highest since inception, and shareholders' equity increased by (10.55%) to reach (28.517) million dinars, and based on these strong financial results, JMRC's board of directors recommended to the General Assembly to distribute (12%) cash dividends of the capital for the year 2023.
Dear Shareholders,
In conclusion, I would like to extend my sincere thanks and appreciation to our dear shareholders and their representatives, fellow board members for their contribution to JMRC’s achievements, and on behalf of myself and the members of the board of directors allow me to extend thanks and appreciation to JMRC’s general manager and all its employees for the efforts they are making in order to achieve JMRC’s results and goals, Here I should not forget to extend my sincere thanks and appreciation to the Central Bank of Jordan For the support and assistance JMRC receives to enable it to carry out its vital economic role, praying to God Almighty to help us all assume responsibility, serve the country, may God Almighty preserve this country under the leadership of Majesty King Abdullah II Ibn Al Hussein.
Peace be Upon You, so as Allah’s Mercy and Blessings