Insurance Authority: To Establish Special Loan Account for Gov’t Employees
2018-03-29 - 2:38 am
Bahrain Mirror: The Chairman of the Board of Directors of the General Authority for Social Insurance, Aref Khamis, issued a decision regarding the system of employees subject to the provisions of Law No. 13 of 1975 on the organization of pensions and retirement benefits of government employees.
The decision stipulated establishing a special account at the General Authority for Social Insurance dedicated for lending all Bahraini employees and users who are registered in the general budget of the state or the budget of municipalities and other local bodies, including ministers, who are subject to the provisions of Law No. 13 of 1975 on the organization of pension and retirement benefits of state employees.
The decision states that the resources of the account consist of the share of the civil pension fund from the account allocated to the lending system established by resolution No. 2 of 1993 on the system of lending employees, officers and individuals subject to the provisions of the civil and military retirement law, in addition to the proceeds of the investment of loans provided for in Article (6) of this resolution, and the proceeds of the installments of loans paid monthly to the Authority.
comments powered by Disqus