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Monday , November 29 2021

Fiscal year of 48 co-ops ends, to hold AGMs until end of ’21

‘Social Affairs’ issues timetables to co-op societies

KUWAIT CITY, Oct 4: In conjunction with the breakthrough that the country is currently witnessing regarding the gradual return to normal life, and the decline of the Covid-19 virus cases, the Ministry of Social Affairs, represented by the cooperatives sector, has issued the timetables for holding annual general assembly meetings for cooperative societies whose fiscal year has ended, reports Al- Jarida daily.

According to ministry sources the fiscal year of 48 cooperatives has ended, and they are expected to hold general body meetings successively until the end of the year. The sources revealed the Abdullah Al-Salem and Al-Mansouriya cooperative society will hold its meeting on Oct 24, and Keifan on Oct 25, pointing out nine cooperatives are expected to hold general body meetings until Oct 31, 29 in November and 10 in December.

The sources indicated this comes in coordination with the members of the boards of directors of the cooperatives societies to ensure smooth running of business and the ease of holding meetings in accordance with health requirements including social distancing and prevent gatherings, to ensure that shareholders are not exposed to the risk of infection with the virus. The sources stressed the ministry will intervene in the event of non-compliance with health protocols. The sources indicated the ministry has requested police protection to control security and tighten control and ensure orderly proceedings during the general body meeting. The ministry has called on the boards of directors of cooperative societies and shareholders to take the necessary full precautionary measures in accordance with the guidelines issued recently by the Council of Ministers.

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