Fahad Al-Rajaan, Director General of the Public Institution for Social Security (PISS), said Wednesday that the institution has managed to fully make up for its losses last year.
Al-Rajaan added, in a statement made to Arabia news channel today, that the PISS which saw its ledger investment dropping to KD 1.8 billion during the financial crisis in 2008, had investment revenues exceeded eight percent to hit some KD 15.9 billion last year.
He also said that PISS faced criticisms against the backdrop of its ledger losses, though the decline in its profits did not exceed 12.7 percent, while it ranged between 20 to 30 percent within global institutions, noting that PISS has been able to make up for these losses in view of its surefootedness on selecting its investments, and their sound geographical and sector distribution.
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