Sports Activities Support Fund Meets

Muscat, The Board of Directors of the Sports

Activities Support Fund held its first meeting for 2019 under the chair of

Sheikh Sa’ad bin Mohammed Al Mardhouf al-Sa’adi, Minister of Sports

Affairs, Chairman of the Board of Directors of the Fund.

The agenda of the first meeting included recommendations of the

Fund’s Investment Committee submitted to the Board within the

minutes of its first meeting for 2019 and approving a report of the

Fund’s auditor for 2018.

As part of its support for the distinguished athletes, the Fund’s

Board of Directors reviewed a report on the classification of

distinguished players belonging to the National Teams Center and

candidates by different federations and sports committees, which has

been financed by the Fund for several years in partnership with the

relevant sports bodies.

The Board adopted the technical plan and the scientific follow-

up program for these athletes for the year 2019, in addition to adopting

some of the controls proposed by the sports classification team at the

Fund.

With regard to the current investments, the Fund’s Board of

Directors reviewed the financial position of its investments and their

financial returns in view of the instability of the financial markets.

The Board also reviewed the Investment Committee’s plan on

entering into new investments, stressing the importance of studying the

market status and proposing projects that contribute to the

development of the Fund’s revenues

Source: Oman News Agency