EPF reiterates that it has followed Investment Policy Guidelines
The Employees' Provident Fund (EPF) states that all internal
guidelines in relation to the assessment, analysis and investment in the
stock market have been diligently followed.
This position has been publicly confirmed by the EPF on many previous
occasions too, but regretfully, certain Members of Parliament of the
Opposition, have chosen not to acknowledge such clarification, and have
continued to allege that internal guidelines have been violated, as if
no response has been received from the EPF.
In that context, the EPF wishes to once again firmly and
categorically, state that its investments in the stock market have been
made in accordance with internal guidelines and has had the approval of
the Investment Committee and the ratification of the Monetary Board.
In this background, it is now clear that this repeated allegation
that is being made by certain Members of Parliament of Opposition is
without foundation.
Therefore, this unfounded allegation could be categorized as a part
of a systematic attempt which is designed to provoke a disturbance to
the stability of the financial system, since the EPF is a substantial
element of the total financial system. Accordingly, the public is
advised not to be misled by these unfounded and politically motivated
allegations.
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