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Tamkeen investment move opposed

Manama, June 1, 2014

A move authorising Tamkeen to invest surplus labour fees in shares, real estate and stock exchanges has sparked outrage among businesspeople, a report said.

They denounced the decree saying that private sector money should be used for developing its institutions, said the Gulf Daily News report.

Under the decree, published in the Official Gazette this week, Tamkeen is allowed to invest surplus money collected as labour fees in stocks and real estate as long as they are in compliance with Sharia and Bahraini laws and in a country that is not banned to deal with.

They said the decree was unfair and urged the state to seek opinions of the business community before deciding to invest their money in high-risk economic activities.

Meanwhile, a stock exchange expert said investing Tamkeen's money in Bahrain bourse is a "hazardous venture", it said citing an Akhbar Al Khaleej report.  -TradeArabia News Service




Tags: Bahrain | business | Tamkeen |

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