Valu Expands to Reach Every Corner of Egypt with New Prepaid Card in Partnership with Visa
تاريخ النشر: 20th, March 2024 GMT
Valu users gain absolute flexibility with the new prepaid card، a convenient product offering 60-month payment tenors with visa acceptance at all outlets.
Valu، the leading universal financial technology powerhouse in MENA، is proud to announce its partnership with Visa، the world leader in digital payments، in launching the new prepaid Valu card.
The Valu prepaid card stands out with its unmatched flexibility، allowing users to effortlessly carry out transactions، whether they are making purchases or settling bills. As part of Valu's commitment to enhancing the payments ecosystem، users can conveniently transfer funds from their Valu limit to the prepaid card. In addition، Valu introduced its latest breakthrough offering، 'Spark it'، a revolutionary product that enables customers to make payments at zero cost within a one-month period.
Furthermore، the introduction of the Valu prepaid card strengthened the partnership between Valu and Visa after the successful launch of their co-branded card. The user-friendly nature of the Valu prepaid card extends to smart budgeting، providing features such as real-time balance tracking and transaction history directly within the app. This empowers customers to make informed financial decisions and effortlessly work towards their financial objectives.
Walid Hassouna، CEO of Valu، commented on the announcement of the new Valu prepaid card، saying، “This launch marks a significant milestone in transforming payment convenience throughout Egypt. The introduction of the Valu prepaid card represents more than just an expansion of services – it is a smooth entry into the larger payment sphere via transitioning from a closed-loop to an open-loop payment system. With this new offering، Valu aims to address key market challenges، streamline operational expenses، and enhance customer access to financial services. This strategic move not only empowers customers with increased flexibility at various outlets in Egypt and online but also signifies a shift towards operational efficiency for a more sustainable business model.”
Malak El Baba، Vice President and Egypt's Country Manager at Visa، expressed enthusiasm about the renewed collaboration with Valu on the innovative prepaid card، commenting، “Leveraging Visa's cutting-edge global payment solutions، the card will enhance feasibility and convenience for Valu users، enabling them to shop seamlessly at any outlet within Visa's expansive network. The Valu prepaid card not only introduces a new level of convenience but also embodies our shared vision to redefine customer expectations and create opportunities for improved financial accessibility in Egypt. Designed to provide unparalleled convenience and financial flexibility، the Valu prepaid card facilitates seamless transactions، paving the way for a more inclusive and user-friendly financial landscape in the country.”
Potential cardholders can conveniently obtain the card instantly at designated Valu booths، streamlining the process for immediate accessibility. The activation process is user-friendly، simply requiring customers to link the QR code found on the card's welcome letter to the Valu app on their smartphones.
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SSIF’s assets grew by JD 1.7 billion to reach nearly JD 18 billion at the end of Q3 2025
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The Social Security Investment Fund (SSIF) reported a record performance for the first nine months of 2025, with total assets nearing JD 18 billion by the end of September — an increase of JD 1.7 billion, or 10.6 percent, since the beginning of the year.
This growth was driven by an increase in total income, which advanced to JD 1.6 billion compared with JD 664.5 million for the same period last year — a 133.5 percent increase — along with the JD 164 million surplus transferred from the Social Security Corporation.
Total income was primarily derived from JD 809.6 million in realized income from the Fund’s investment portfolios and JD 741.7 million in revaluation gains from its strategic equity holdings.
Net income generated from the Fund’s diversified portfolios grew by 16 percent year-on-year, supported by income of JD 454.6 million from bonds, JD 222.4 million from equities, and JD 104.9 million from money-market instruments, in addition to returns from loan and real-estate investments.
The Fund’s assets were mainly allocated to bonds 57.8 percent, equities 18.2 percent, money-market instruments 12.6 percent, real estate 5 percent, loans 3.2 percent, and tourism investments 1.8 percent.
Chairman of the Investment Board, Omar Malhas affirmed that the results achieved during the year reflect the Fund’s solid and disciplined investment approach, which is based on long-term planning, diversification of investment instruments, and investment in viable projects that add value to the national economy.
He added that the Fund continues to strengthen its position as a pivotal national partner in implementing major strategic projects that form a key pillar of sustainable growth in the Kingdom—most notably through its participation in the National Water Carrier Project. He further noted the Fund’s commitment to pursuing investments that enhance portfolio diversification and align with the objectives of the Economic Modernization Vision.
Malhas emphasized that these strategic ventures demonstrate the Fund’s investment-driven national mission to generate sustainable returns that reinforce its financial strength. He added that this approach also reflects the Fund’s enduring institutional role in supporting the Kingdom’s economic framework and promoting a stable, efficient, and forward-looking investment environment.
SSIF CEO, Dr Izzedine Kanakrieh, stated that the Fund continued during the third quarter to translate its investment plans into tangible results through active portfolio management and prudent decision making, reflecting mature and disciplined policies.
He noted that the Fund has strengthened its holdings in several strategic listed companies on the Amman Stock Exchange, guided by a measured approach based on thorough evaluation and well-studied opportunities that enhance value and reinforce the Fund’s long-term position. This approach, he said, reflects confidence in Jordan’s capital-market outlook and underscores the Fund’s commitment to institutional investment practices that balance return and sustainability.
Kanakrieh also highlighted the Fund’s expanding activity in the real-estate sector, including the acquisition of strategically located lands and the signing of long-term lease agreements with local investors under the Build-Operate-Transfer (BOT) model. These initiatives, he explained, stimulate economic activity, create jobs across governorates, and enhance both the value and sustainability of the Fund’s asset base.
He added that these efforts reaffirm the Fund’s role as a national institutional investor dedicated to safeguarding the savings of Jordanians while achieving sustainable returns
The Social Security Investment Fund will continue to implement its long-term investment strategy, guided by an institutional approach that combines efficiency and sustainability, and enhances its enduring contribution to Jordan’s economic and social progress and development.
لميس الحديدي: على المصريين التبرع لأهل غزة رغم أزمتنا الاقتصادية (فيديو)