The Kuwait Investment Authority revealed that the total assets in the general reserve portfolio reached about 17 billion dinars.
According to the “Investment Authority”, the value of the total shares that can be sold to the future generations reserve amounts to 2.2 billion dinars, which are local shares listed within the limits of 1.8 billion, in addition to Arab shares listed within the limits of 0.4 billion.
The “Investment Authority” stated that the rest of the “general reserve” assets are not liquid and cannot be used to solve the liquidity problem at the present time. And it indicated that the "general reserve" also includes 5 billion dinars in cash and cash equivalents (knowing that this amount decreased to 1.3 billion dinars on June 19) in addition to 12 billion which are deposits and government loans, listed and unlisted shares, stock portfolios, real estate and portfolios. Real estate, and government institutions.
The size of government deposits in local banks amounted to about 7.7 billion dinars, including the deposits of ministries, government departments and public institutions with an attached budget, in addition to the Kuwait Credit Bank and the General Investment Authority.
The percentage of profits on these deposits varies according to the size of the deposit and the maturity period, knowing that these deposits are money belonging to government agencies, and they are used for their purposes and activities in accordance with the laws of their establishment, and therefore the decision to withdraw these deposits belongs to those authorities.
Source (Kuwaiti newspaper Al-Rai, edited)
