Manama, June 27 (BNA) Minister of Finance and National Economy Sheikh Salman bin Khalifa Al Khalifa stressed the crucial role of the Future Generations Reserve Fund within the broad development led by His Majesty King Hamad bin Isa Al Khalifa and with the support of His Highness. His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister.
He said, “The Future Generations Reserve Fund was able to achieve more positive results in various investment assets, despite the challenges and economic developments.”
He pointed to the solidarity of all and the competence of young national cadres in the administrative and technical staff of the fund, which will enable the achievement of all strategic priorities and strategic plans of the fund.
Citing the financial results for the fiscal year ending on December 31, 2021, he said that the fund was able to record an increase in its assets by 20.4% on an annual basis, bringing its total value to $626.9 million, and also recorded a positive rise. 10.4% ROI and average return over 5 years. by 7.4%.
He said, “The financial results for the fiscal year ending on December 31, 2021 showed a total comprehensive income of $50.8 million.”
He pointed out that the final financial statements that were examined by the National Accounting Bureau confirmed the position of the fund and the cash flows during the mentioned fiscal year, in line with the requirements of international financial reporting standards.
He stressed that the Future Generations Reserve Council will continue to perform its duties towards achieving more desired achievements and aspirations for the benefit of future generations.
This will be achieved by continuing to follow economic and political developments, taking advantage of available opportunities in the markets, in addition to monitoring the distribution of the portfolio’s assets and restructuring them in line with the expectations of the global economic situation.
He concluded by saying, “The board will continue its efforts during the coming period to achieve the growth and sustainability of assets for future generations,” praising the members of the board and the executive management.
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