12 Sep 2012
(MENAFN) Bahrain’s Takaud Savings and Pensions’s CEO, Abdallah Kubursi, stated that in the fourth quarter, the company will introduce its initial pension product in the country, reported Arabian Business.
The step will allow the company, wholly owned by Kuwait Projects Company (KIPCO), to meet increasing demand for low-risk and long-term pension products in the Middle East and North Africa (MENA) region.
Kubursi said that the company’s first corporate pension plan will be offered in the fourth quarter, whereas its products for individuals will be offered in next year’s first quarter.
It is worth noting that Takaud, which gained regulatory approval to operate in Bahrain in September 2011, forecasts USD1 billion in assets under management during the coming 5 years.
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