Public Authority for Social Insurance sees highest revenue since its inception

Muscat: The Public Authority for Social Insurance recorded the highest investment revenues since its inception till the end of the previous year.

A statement issued online by Oman News Agency said, "The Board of Directors of the Public Authority for Social Insurance held its second meeting for this year, headed by His Excellency Dr Mahad bin Said bin Ali Al Ba’owain, the Minister of Labour, and Chairman of the Board of Directors of the Authority."

The board was briefed on the authority's financial position through the final accounts for the previous year, which reflected stability and balance between income and expenditures in accordance with the standards in social insurance and retirement systems around the world.

"On the investment side, the Board of Directors expressed its satisfaction with the results achieved by the authority during the past year, despite the global economic markets being affected by the COVID-19 pandemic and the drop in oil prices. The authority recorded investment revenues that are the highest since its inception," added the statement.