KUWAIT CITY, July 12: Saleh Al- Enezi, Director of the Membership Affairs and Publicity Department in the Cooperative Societies Sector at the Ministry of Social Affairs, confirmed that the ministry implemented its plans in the first half of this year to regulate the cooperative sector and ensure the good performance of their boards of directors in line with the principles of good governance and fi- nancial and administrative transparency.

In a press statement, Al-Enezi disclosed that from Jan 1 to June 30, a total of 69 general assemblies in various cooperative societies were convened, in addition to the approval of the administrative bodies of 58 cooperatives and the formation of 24 new boards of directors, enhancing the stability of cooperative work and the continuity of services to shareholders. Al-Enezi indicated that the ministry’s efforts, led by Minister of Social, Family and Childhood Affairs Dr. Amthal Al-Huwailah, led to the issuance of important decisions to protect public cooperative funds and shareholder rights. He revealed these decisions included the dissolution and dismissal of 16 boards of directors in several cooperative societies, following the discovery of serious financial violations that required intervention to ensure integrity and good management; dismissal of 51 members in 10 cooperatives; and the dissolution of the boards of directors of six cooperatives.

He revealed that legal mechanisms were implemented to regulate board membership, with a legal lottery held to revoke the membership of some members in 10 cooperatives, in compliance with the law and to ensure the infusion of new blood into the sector. He went on to say that in the context of supporting women’s participation and strengthening their role in the cooperative sector, 15 women were appointed to the boards of directors of the cooperatives whose members were dismissed, as part of the government’s drive to empower women in leadership positions. He added the number of shareholders in the cooperative sector reached around 526,000 -- a manifestation of the size of the segment benefiting from cooperative services and the importance of protecting their rights.

By Fares Ghaleb
Al-Seyassah/Arab Times Staff