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Investment Arm of Public Authority for Social Insurance: Assets Reached 3 Billion, 100 Million BD

2018-07-30 - 9:53 p

Bahrain Mirror: Rashid Al-Meer, Chairman of Board of Directors of Osoul Investment Company (the investment arm of public authority for social insurance) said that the company's assets last year amounted to 3 billion and 100 million dinars.

Al-Meer said in an interview with journalists that the company achieved revenues amounting to 310 million dinars, at a rate of 7% revenue.

The company invests 61%. Meanwhile, it invests 39% in America, Britain and Asia.

Al-Meer stressed writing off investments, but said the company has no authority to write off. However, it raises its recommendation to the Board of Directors of the social insurance authority to take the appropriate decision.

Bahrain is studying new legislation for retirement that raises the retirement age and increase the percentage of contributions paid by citizens to the Fund, which a financial report said it is threatened with bankruptcy.

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