GOSI profit falls to $109m

Manama, October 28, 2008

General Organisation of Social Insurance (GOSI) net profit fell to BD41 million ($109 million) at the end of last month in view of the global crisis, GOSI chairman Shaikh Mohammed bin Isa Al Khalifa told a press conference.

Pension Fund and GOSI book value losses were BD112 billion and BD37 million respectively.

Meanwhile, two committees have been formed to decide on benefits and an umbrella law for social security, he said. - TradeArabia News Service

Tags: General Organisation of Social Insurance | pension fund |