KUWAIT CITY, Nov 27: Minister of Social, Family and Childhood Affairs Dr. Amthal Al-Huwailah issued a ministerial decree dissolving the Board of Directors of Sulaibikhat and Doha Cooperative Society for committing serious financial and administrative violations that harmed the shareholders’ funds and contravened the laws and regulations governing cooperative work. The decree included the appointment of an interim manager to administer the cooperative for a specified period, during which he will have full oversight of the operations of the cooperative, control administrative and financial processes, take the necessary measures to protect shareholders’ rights, and follow up on the investigations and the completion of required reports. Al-Huwailah emphasized that this measure is in line with the commitment of the ministry to protect cooperative funds, preserve shareholders’ rights, and ensure that all cooperative societies adhere to governance, regulations and transparency in their operations.

By Fares Ghaleb Al-Seyassah/Arab Times Staff