27/10/2025
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27/10/2025
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KUWAIT CITY, Oct 27: Acting Assistant Undersecretary for Financial, Administrative and Cooperative Affairs at the Ministry of Social Affairs Dr. Sayed Issa revealed that the past three months witnessed the issuance of administrative decisions to form six investigation committees and five field inspection teams tasked to review the operations and accounts of cooperative societies and to ensure their compliance with the provisions of the Cooperatives Law and its amendments, as well as the ministerial and administrative decisions to regulate cooperative work.
Issa confirmed in a press statement Sunday that three of the six aforementioned investigation committees have completed their review work, indicating the ministry will soon finalize the legal procedures expected to be taken against these cooperatives according to the type and extent of the violations, if any, which are documented individually with conclusive proof to avoid causing injustice to anyone.
He said “under the direct guidance of Minister of Social, Family and Childhood Affairs Dr. Amthal Al-Huwailah, we are keen on intervening immediately whenever suspected irregularities or violations are reported by the financial and administrative auditors appointed within the cooperatives or complaints submitted by their shareholders through the formation of committees and teams in order to preserve the financial positions of cooperatives, prevent damage to their solvency, and safeguard the shareholders’ funds, which are a trust placed under our care.” Meanwhile, the ministry affirmed the intensified inspection of cooperative societies, stressing that the necessary action will be taken once the suspected violations, irregularities or deliberate misuse of authority by boards of directors are confirmed, as such acts threaten or waste shareholders’ funds and harm the cooperative society.
It clarified that this move aims to protect cooperatives, which are considered a safety valve for maintaining food security in the country. It also confirmed its commitment to achieve the ultimate goal of cooperative work -- to provide high-quality goods at affordable prices to ease the financial burdens of consumers, in addition to taking all the necessary measures to address all types and methods of corruption in cooperative societies until the violations are rectified.
By Fares Ghaleb Al-Seyassah/Arab Times Staff
