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Parliamentary Inquiry Committee Report: Differences in Hundreds of Millions of Dinars in SIO Calculations

2021-03-17 - 9:07 am

Bahrain Mirror: The final report of the Parliamentary Inquiry Committee into pension funds concluded that there are differences in the figures provided by the Social Insurance Organization to the committee amounting to "hundreds of millions of dinars".

In its most important remarks, the committee said that it "noted there were very significant errors in the amounts of contributions sent by the SIO to the committee in its text included in the speech of the Minister of Shura Council and House of Representatives Affairs."

The authority admitted the existence of errors after being asked by the committee about this large difference in numbers. The authority's representatives stated that there was a mistake, and that a correction was added to the statement of the Minister of Shura Council and House of Representatives Affairs to replace the table sent earlier.

The committee considered that this error, in a letter sent to the House of Representatives, would have a significant impact on the committee's report through that information, which included differences in hundreds of millions of dinars and therefore the financial experts in the authority should have scrutinized those figures before sending them. 

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