Originally Posted by
trimotor
Low-grade rumour only at this point, though heard around the bazaars today that STC mooting movement of the Prov Fubd assets to Dubai, away from IoM.
That at would be cause for resignation...So why would this move be a good one? STC planning to raid the piggy bank or local government wants to tax it?
Discuss.
I'm not sure that it could be done with any amount of ease but I'll bet they have some language in the fund somewhere that will allow it to happen should the government of the UAE insist...they always get their way in matters like this.
On the other hand, I had heard the same rumour a year or so ago and it made me think about securing my provident fund. There seems to be a lot of "read between the lines" with EK and turbulent times ahead. In any case, I wouldn't trust any airline management with my retirement fund, they would steal in in a second without any thought or remorse which has been proven in the past...even in the first world.