ISLAMABAD, Oct 26: The United Bank Limited (UBL) employees have expressed their resentments over the Shariat compliant investment of their GP fund which drew only 1.5 per cent profit against the 16 per cent last year.

The GPF transaction ledger from June 1, 2000 to June 30, 2002, showed the rate of return during 2001 lower than that in the last year due to less earnings on Shariat compliant investment and also due to premature encasement of securities for making payment to staff who opted for voluntary retirement which resulted in reduced trust earning.

The employees are of the view that the bank should be responsible for inappropriate investment that drew meagre profit. To compensate those who opted for voluntary retirement, why other employees should face loss on their life-long savings, they said.