Mumtalakat’s direct contributions to state budget to reach BD200 million in 2024 | THE DAILY TRIBUNE | KINGDOM OF …

Mumtalakat’s direct contributions to state budget to reach BD200 million in 2024 | THE DAILY TRIBUNE | KINGDOM OF …

TDT | Manama                                                        
The Daily Tribune – www.newsofbahrain.com
Mumtalakat has revealed that its direct contribution to the state’s general budget will reach BD200 million over an eight-year period, from 2017 until the end of the upcoming year 2024.
The Kingdom’s sovereign wealth fund stated that it has injected BD40 million into the current year’s budget for 2022, and it will also allocate BD40 million for the budget of the following year.
At the same time, Mumtalakat affirmed its policy of self-sufficiency in managing its operations, as it does not burden the government with any financial obligations nor does it receive direct support from the state
In fact, the company contributes a portion of its profits to the public account. In a memorandum to the Council of Representatives, Mumtalakat clarified that it publishes audited financial statements on its website in line with best governance practices. Those interested in knowing the company’s financial standing can access its financial data, which is made available to the public.
The company emphasised its commitment to safeguarding state funds, enhancing transparency, and enabling various oversight bodies to monitor its financial transactions.
The Council of Representatives and the National Audit Office were mentioned as among the key entities responsible for auditing the company’s data.
Adherence
Mumtalakat highlighted its