4m Bahraini dinar for new projects to diversify investment

Minister of Justice, Islamic Affairs and Endowments Shaikh Khalid bin Ali bin Abdullah Al Khalifa chaired today the meeting of the Council of Guardianship on the Money of the Minors and their Equivalents.
Discussions focused on issues on the meeting’s agenda and ways of boosting investment of the minors’ money and streamline services. The council approved a sum of BD 4 million to be allocated for investments.
The council also decided to expand investment in the telecommunication industry by buying shares in one of the telecommunication companies so as to diversify the investment basket for the minors and support national firms.
Investment in the real estates field was also spotlighted so as to bolster financial and investment revenues. The council decided to allocate a budget for that which will be reviewed periodically in line with the recommendations submitted by the Investment and Real Estates Committee.
The council also decided to allocate a budget to invest in fixed deposits in Islamic and national banks which will be reviewed regularly. It also decided to avail of the private sector’s experience in specialised fields and services like maintenance of buildings and administrative and accountancy consultancy.
The council emphasised that management of the minors’ money follows a reservation policy in all investments to protect the capital and ensure compliance with the Islamic sharia.