Business Club

BCI launched its new campaign “Win Gold 3/3” exclusively for the online shop customers, giving them a chance to win gold coins weekly for a month. To reward BCI customers, “Win Gold 3/3” campaign will run from June 8th till July 5th, 2020, on its online shop; the newest edition of BCI elevated services to offer seamless experience to the customers, where they can shop their favourite and desired products with comfort and ease.

All online shoppers can enter the draw when buying one product or more worth JD150 and above. Weekly, three gold coins will be awarded to three lucky winners in the raffle draw that will be held in the Ministry of Industry, Trade & Supply every Sunday.

BCI Mobile CEO Fadi Baransi highlighted the importance of e-commerce; especially after the radical change in the purchasing behaviour, during the quarantine observed post the emergence of the novel coronavirus, which reflected the strength of e-commerce channels. 

The Arab Petroleum Investments Corporation (APICORP), a multilateral development bank, today announced its first direct equity investment in a wind energy venture, the Jordan Wind Project Company (JWPC), the developer of the Tafileh Wind Project in the Hashemite Kingdom of Jordan.

APICORP’s 20 per cent equity stake in the project also marks its first equity investment in the country.

JWPC’s mandate is in line with Jordan’s ambitious target to have clean energy account for 20 per cent of the country’s overall power generation by 2021, thereby developing new and sustainable energy sources as part of the country’s energy mix.

The $287 million, 117-megawatt wind farm connected to the national grid accounts for 12 per cent of Jordan’s total operating renewable energy generation, generating around 350GWh of clean energy annually which can power  83,000 homes.

Tafileh Wind Farm is owned and operated by the Jordan Wind Project Company PSC, in which Abu Dhabi’s renewable energy firm Masdar owns a 50 per cent stake. 

Life as we know it has changed due to Coronavirus, affecting all sectors and leading to the postponement or cancellation of many events, including sports events, in particular. Coping with the new normal; Run Jordan developed and launched a running application; the first of its kind in the region.

This application has been developed by Jordanian talents to encourage everyone to remain active and motivated to run, jog, or even walk indoor or outdoor.

The built-in counting system helped Run Jordan’s Virtual Run application to stand out among other similar applications in the region, where this embedded feature enables users to count their steps, calculate the achieved distance and their raking among other participants in the same race automatically without the need to use supportive applications; unlike other running applications that require taking screenshots from the fitness trackers to analyse results and send them later; which could take up to a week. 

Al Beyrouni Publishing and Distribution Company in Amman issued a new book, in which Marwan Shehadeh, who is a media researcher, reviews the position of “armed Islamic groups” on international humanitarian organisations.

The idea of the book came during the field visits that the writer made to some countries which witness non-international armed conflicts.

This book seeks to present “a contemporary Islamic view of international medical and relief organisations”, and to present the challenges and obstacles facing them in war zones, in addition to the risks they are exposed to, according to the nature of work and its environment. 

In recognition of its social responsibility, the Landmark Amman Hotel and Conference Centre renewed its partnership agreement with the UN World Food Programme (WFP).

Landmark will continue with its fundraising and awareness activities for the programme, which seeks to increase the food security of vulnerable Jordanians and refugees.

“We continuously offer our assistance to various civil society organisations, which constitutes part of our social responsibility as a leading Jordanian enterprise with a local impact,” said Ibrahim Karajeh, general manager of Landmark Amman Hotel.

“We are pleased to renew our agreement with Landmark Hotel. Partnering with the private sector lies at the heart of WFP’s Country Strategic Plan 2020 – 2022, and is part of our commitment to the Sustainable Development Goal 17 – Partnerships for the Goals,” said WFP’s Country Director and Representative Sarah Gordon-Gibson.

WFP has been present in Jordan since 1964, and works closely with the government and partners to support over one million vulnerable Jordanians and refugees through different activities.

Hikma Pharmaceuticals PLC. (Hikma) and a wholly-owned subsidiary of Sun Pharmaceutical Industries Ltd. (Sun Pharma) announced today that they have entered into an exclusive licensing and distribution agreement for ILUMYA, an innovative biologic product, for the Middle East and North Africa (MENA) region.

ILUMYA (tildrakizumab) is a USFDA approved innovative IL-23p19 monoclonal antibody used for the treatment of adults with moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy.

Under the agreement, Hikma, the multinational pharmaceutical company, will be responsible for the registration and commercialisation of the product in all MENA markets and Sun Pharma,  the world's fourth largest specialty generic pharmaceutical company, will be responsible for product supply. The agreement’s term is 15 years from first sale with a two-year automatic renewal post the expiration of the agreement.

In comment, Mazen Darwazah, Hikma’s executive vice chairman and president of MENA said, “We are excited to partner with Sun Pharma and bring ILUMYA to our patients in MENA.ILUMYA™ is the first innovative monoclonal antibody product we add to our portfolio.”

Memac Ogilvy Jordan has announced the appointment of Habib Rihana as managing director (MD). Rihana will replace long-serving MD Mohammad Kamal, who parts ways with the agency after 10 years. Kamal leaves a legacy as one of the market’s foremost creative talents.

Rihana steps up from the Deputy MD position, and will continue to co-lead with Kamal through June to ensure a smooth transition for the agency and its valued clients. Rihana will continue to focus on creativity, client-centricity and integration, in line with Memac Ogilvy’s regional growth strategy.

“I want to thank Mohammed for the guidance, leadership, and friendship he has shown me over the years, preparing me for this opportunity — I could not imagine a better mentor,” said Rihana, newly appointed managing director, Memac Ogilvy Jordan.

Rihana joined Memac Ogilvy in 2010. He was responsible for some of the agency’s largest clients, as well as ensuring positive and sustainable growth for the network in Jordan. He started his career at Impact BBDO in Jeddah, KSA, followed by Dubai, UAE. 

Kia Jordan (National Arab Motors) has officially launched the all-new Seltos with a distinctive, modern design and forward-looking, dynamic features appealing to buyers that are looking for a sporty SUV.

The Seltos comes in a two-tone colour for the body and the roof. Its bold design of lights, exterior and the easily recognisable Kia Motors signature “tiger nose”, in addition to all the other technical and design details, make it a top choice among youth and tech-savvy customers looking for a stylish compact SUV.

In the local market, the all-new Seltos comes with a high-performance engine of 123 HP and a comfortable suspension system, giving it a smooth driving experience. Supplied with a rear view camera, cruise control, sunroof and a steering wheel controls, the Seltos is very accommodating for the driver as well as passengers and provides ample cargo space. 

The interior features modern high-tech design details such as the smart dashboard, which includes the infotainment system, compatible with Apple CarPlay and Android Auto.  The all-new Kia Seltos offers a high value for money compared to its direct rivals in the market.

Mohamed Alayyan, Chief Executive Officer of National Arab Motors, commented: “We are happy to introduce the all-new Kia Seltos to the Jordanian market.  The car offers a distinctive choice for those looking for a modern, stylish and comfortable SUV that parallels their lifestyle.” 

During its meeting held on May 11, the general assembly of the Housing Bank for Trade and Finance (Housing Bank) officially approved the report of the bank’s board of directors, the financial statements of the year 2019 and the bank’s business plan for the year 2020. 

The general assembly also appointed Deloitte as an external auditor to audit the bank’s accounts for the year 2020. 

Pursuant to the provisions of Defence Order No. (5) for the year 2020 and the procedures issued by the Minister of Industry, Trade and Supply on April 9 and the approval of the minister on April 30, the Housing Bank’s 47th ordinary general assembly meeting was conducted using the Microsoft Teams video conferencing platform with a quorum of 94.07 per cent.

The meeting was headed by the Housing Bank Chairman, Abdel Elah Al Khatib.

Khatib noted the results of the Housing Bank’s operations for 2019, underscoring that despite strong competition and the economic challenges, the bank’s total assets have increased since December 2018 by 1.7 per cent to reach JD8.4 billion as at the end of 2019. Customer deposits stood at JD5.8 billion as at the end of 2019, while total direct credit facilities reached JD4.6 billion and total equity amounted to JD1.1 billion. Total income for the year 2019 reached JD361 million, increasing by JD12.2 million above the same period last year. 

The Housing Bank’s profits before tax totalled JD132.2 million, compared to JD132 million for the previous year. The bank’s net profits reached JD83.7 million compared to JD94.5 million in 2018.

The Housing Bank’s capital adequacy ratio and liquidity ratio stood at 17.3 per cent and 128 per cent respectively, both higher than the minimums requirements of the Central Bank of Jordan and the Basel Committee. The return on average assets and on average equity reached 1 per cent and 7.6 per cent respectively, while non-performing loans ratio stood at 5.3 per cent. 

According to the decision of the Central Bank of Jordan No. 1/1/4693 dated April 9, cash dividends will not be distributed to the shareholders for the year 2019.

The bank’s market share reached 13.9 per cent of the total banking sector total assets in Jordan and 13.7 per cent of total customer deposits. 

The bank has maintained its strong presence in the Jordanian market with 125 branches (13.3 per cent market share) and 226 ATMs strategically located nationwide, which in turn constitute about 12.2 per cent of the local market. 

Globally, the bank operates 180 branches, in addition to its representative offices in Iraq, the United Arab Emirates and Libya.

In light of the Housing Bank’s corporate social responsibility and its national, human and moral duty towards supporting the local community during the COVID-19 crisis, the board of directors has approved the decision to donate JD3.1 million to support the Kingdom’s national response to COVID-19, further demonstrating its commitment to Jordanians given the unprecedented challenges currently levelled against the country’s institutions. 

Meanwhile, an additional JD500,000 was also donated through the bank’s management and employees, in addition to donations made by the employees’ social committee to the "We Cover Their Daily Wage", an initiative launched by a coalition of charitable organisations on the Naua platform, one of the Crown Prince Foundation's initiatives. 

The bank also implemented several awareness and preventive campaigns to protect its employees and clients from COVID-19 and curb the spread of the disease in compliance with the government directives. The bank also worked on parallel track on securing advanced infrastructure and technologies to maintain business continuity and functionality of all support services, while continuing to provide services to its clients during official lockdown periods across all branches and ATMs, and in line with the Central Bank of Jordan’s directives adhering to strict social distancing and safety measures.  

In conclusion, Khatib expressed the bank’s appreciation to the Central Bank of Jordan, the Jordan Securities Commission, in addition to extending special thanks to shareholders, customers, the board of directors, executive management and employees for their efforts. 

Beecell, a  leading digital media company in Jordan, has recently announced an agreement with the King Hussein Cancer Foundation (KHCF) and Orange Jordan, to power a new “text-to-donate” service that enables Orange Mobile customers to easily send donations  to underprivileged patients at the KHCF. 

This innovative approach highlights Beecell’s instant mobile payment solution and technologies, and is also part of the company’s commitment to corporate social responsibility (CSR) towards supporting the local community. 

Orange subscribers have the option of donating JD1 through the short code 98851 and JD5 using 98853. 

“We are very proud of our role in this initiative, and are happily offering our platform and connectivity to Orange and the KHCF free of charge,” commented Bashar Hantouli, Beecell CEO. 

He added: “We prioritise the employment of effective solutions that enable Orange subscribers to easily make donations in order to have an effective role in saving the lives of cancer patients.”

Orange Jordan CEO, Thierry Marigny, said: "We are glad to join Beecell and King Hussein Cancer Foundation in providing easier ways to help others. This step falls within our social responsibility strategy that focuses on digital inclusion, empowering as many people as possible and helping them use technology for the progress and wellbeing of individuals and their local communities."

Nisreen Qatamish, Director General of the KHCF, expressed her appreciation of Beecell’s direction towards supporting the fight against cancer, commenting: “We are pleased with the positive step taken by Beecell to allow Orange subscribers to benefit patients at the King Hussein Cancer Centre (KHCC), especially as the concept keeps pace with the prevailing lifestyle that relies on easy, accessible services through cell phones, as they are a significant part of our daily lives.”

Since 2004, Beecell has been committed to providing innovative, reliable and professional digital media services to over 40 mobile network operators in over 22 countries across the Middle East, North Africa and around the world. Beecell also acts as a mobile billing aggregator, enabling companies to take advantage of their connectivity with mobile operators, which results in quick time-to-market product launches.