RECORDS INTO THE REPORTS FOR THE 12 MONTHS ENDED JUNE 30, 2003
3. MONEY AND BANK BALANCES 3.1. RETURN ON THESE SAVINGS RECORDS IS GAINED AT RATES WHICH RANGE FROM 2 percent TO 5 percent
4. SHORT-TERM LOANS 4.1. These loans that are represent clients for a time period of as much as a year on mark-up basis as they are guaranteed by means of lien on Certificates of Investment. The price of mark-up ranges from 14% to 21.5percent per year.
4.2. Included in these are cash market placements with different banking institutions along with other finance institutions. Return on these placements ranges from 5% to 13per cent.
5. ASSETS through the current 12 months, the organization sold four federal federal government securities for Rs 182.288 million. The cost that is amortised of government securities had been Rs 159.394 million plus the revenue from the disposal of the securities amounted to Rs 22.894 million.
The administration chose to offer these securities so that you can realise the gain arising on these securities underneath the reduced rate of interest environment.
As at June 30, 2003 the investment that is remaining of business in federal federal government securities amounted to Rs 52.634 million.Read More