Poor management of "Generations Fund" Prevented 1 Million Dinar Guaranteed Profits
2018-04-26 - 2:08 am
Bahrain Mirror: The Bahraini House of Representatives approved a bill aimed at modifying the structure of the Council of the Future Generations Reserve Fund in line with the functions carried out by the Council.
The Chairman of the Finance and Economic Committee MP Abdulrahman Bu Ali said that the final account in 2015-2016 shows that the profits amounted to 405,000 dinars, and interests from banks amounted to 1.5%, noting that some banks make up to 6% profits.
"There are clear differences between the profits made and the profits that can be achieved, especially that there are 72 million frozen dinars, which could achieve profits that could reach up to one and a half million annually. We as a financial committee have chosen to choose a management that has the ability to be aware of the banking situation and financial affairs.
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