The Public Institution for Social Security (PIFSS) over the past few months has succeeded in reducing the percentage of un-invested funds to target rates, suggesting that the institution withdrew about 7 billion dinars in 2021 to increase its long-term returns.<\/p>\n
The sources revealed to Al-Rai that PIFSS withdrew all its deposits from some banks and does not have any balances in banks at the present time other than its current accounts, while it still maintains short-term deposits in banks close to 500 million dinars to maintain savings balances at varying rates. In some local banks it is 100 million dinars and in others 50 million dinars.<\/p>\n
The sources stated PIFSS withdrew in 2021 for investment purposes specified in its strategy, and that this is in line with the institution\u2019s five-year plan, which aims to reduce the rate of un-invested funds, which was about 4 percent at the end of last March, after it was 6.7 percent of total assets as on December 31, 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Public Institution for Social Security (PIFSS) over the past few months has succeeded in reducing the percentage of un-invested funds to target rates, suggesting that the institution withdrew about 7 billion dinars in 2021 to increase its long-term returns. The sources revealed to Al-Rai that PIFSS withdrew all its deposits from some banks and […]<\/p>\n","protected":false},"author":1,"featured_media":90133,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,18],"tags":[1322,3446,2630],"class_list":["post-90132","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-local","tag-banks","tag-funds","tag-pifss"],"yoast_head":"\n