Question No. 4: (10marks)
Suppose you receive 100000 Omani Rial each year and you retired at 60 years old. The insurance Company promises to give you 65% of your annual salary. You felt happy and began to plan for travelling.
Question: Is your feeling of happiness correct? What should you have done before retirement?
Answer: (Explain your point of view theoretically; you don't need to calculate anything)
Draw a Figure in which you exhibit all kinds of banks that operate in Sultanate of Oman. (Name all Banks).
No, we should not be happy about this. Beacsue when we will be old,our expenses on medicines and health will increase and we may require more income also the purchashing power of the currency decreases over time, so even the full salary will not be suffcient that time. So, the offer of insurance company to give 65% of annual salary is nothing to be happy about.
|S. No.||List of Bank in Oman|
|Central Bank||Central Bank of Oman|
|1||Other Banks||Oman Arab Bank|
|3||National Bank of Oman|
|9||Alizz Islamic Bank|
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