Enduring strength

Kingdom’s Future Generations Fund grows assets despite temporary market slump in 2022

TDT | Manama

Email: mail@newsofbahrain.com

Bahrain’s Future Generations Reserve Fund recorded asset growth from 2020 to 2024 despite a temporary global market dip in 2022, the Finance Ministry told Parliament yesterday.

Undersecretary Yusuf Al Hammoud said the fund’s 2022 losses were unrealised.

He noted that global markets fell by about 22 per cent that year, while the fund eased by 11 per cent, which he said points to careful management.

Approach

Al Hammoud added that the fund follows a long-term, conservative approach and avoids speculation and short-term bets.

The ministry is seeking approval of the final accounts to complete the financial and oversight framework for the fund’s work.

Al Hammoud said the overall picture is steady: assets have risen and no realised losses have been booked.

On the pharmaceutical plant owned by the fund, he said medicines face strict regulatory control.

The fund has secured approvals for the full product list, pilot production has begun after all licences were issued, and full output is due to start very soon.

He said the project is on track to create new jobs for Bahrainis as production scales up. All fund staff are Bahraini, 100 per cent, with a current headcount of 14.

Completion

Al Hammoud said the Future Generations Fund Tower is scheduled for completion by the end of May 2026.

Leasing has started, demand from investors is high, and full take-up is expected once operations begin.

He said the fund’s approach is long term and measured, asset growth has continued, and the current course supports financial durability for future generations.