Financial Control Department

The Financial Control Department performs the following activities:

• Performs financial control i.e. control overt the investments, valuation, trading, custody and transfer of assets of the Pension Companies, Custodians and Foreign Asset Managers;
• Controls the implementation of accounting standards that the Pension Companies are obligated to apply in their accounting and in the accounting of the Pension Funds under their management;
• Proposes and prepares written approval for the selection of the custodian and for the agreements concluded between the Pension Company and the Custodian;
• Controls the transfer of management rights of the Pension Fund’s assets to a Foreign Asset Manager and
• Performs other activities within the scope of operations of the Department.