The new takaful rules include provisions on the distribution of surplus funds
to policyholders and segregation of assets of participants' and shareholders' accounts.
Based on projected revenue flows, the Comptroller's office estimates that the BPCA will generate some $400 million in surplus funds
over approximately 10 years, with the bulk of the new receipts starting in fiscal year 2016.
Government has issued guidelines from time to time on investment of surplus funds
of CPSEs to ensure maximum safety, no element of speculation on the yield, sound commercial judgment and maturity period of not more than one year.
The new shares will be allotted and surplus funds
returned to investors in coming weeks, Arabtec added in Monday's bourse filing.
Sadrist Trend criticizes governmental decision on food ration BAGHDAD/ Aswat al-Iraq: Sadrist Trend, headed by Muqtada al-Sadr, described governmental action on food ration as "contradictory", at a time refusing to give the oil surplus funds
to the people, but decides to cancel the food ration card.
CBJ excess reserves come from the surplus funds
of banks needed to finance their operations, where the central bank pays 2 percent annual interest limited to commercial banks, while Islamic banks are not included.
Considering the fact that there has been an increase of only RO1,879 in the surplus funds
, in spite of the increase in employee related costs, rent of school and accommodation as per the financial statements for the period ending March 31, 2010, the fee hike should be withdrawn," they demanded.
Union officials blamed the college's expansion on a projected fall in surplus funds
He said initially seven per cent of surplus funds
These new rules, if ultimately approved by a joint legislative committee, would permit the commissioner of Insurance to take the more than $110 million of surplus funds
from the JUA rather than return them to policyholders as required by 23 years of contracts and the applicable regulations.
While the former railway minister had managed Rs 90,000 crore rupees as surplus funds
with the railways, Banerjee declared that an amount of Rs 8,361 crore rupees left, after an expenditure of Rs 13,600 crore on account of Pay Commission award last year and a corpus of Rs 2,600 crore rupees left this year.
Any surplus funds
it generates will be retained to invest in new services and it will also be able to borrow money to support such investments.