11/02/2026
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11/02/2026
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KUWAIT CITY, Feb 11: The Financial, Administrative and Cooperative Affairs Sector in the Ministry of Social Affairs has intensified its efforts to closely monitor the cooperative societies, as the holy month of Ramadan is fast approaching. This move aims to ensure compliance with the laws and ministerial decrees regulating cooperative work, particularly on budget preparation, disbursement mechanisms, and planning for seasonal expenditures.
In a press statement, acting Assistant Undersecretary for the Financial, Administrative and Cooperative Affairs Sector and Director General of the Planning and Administrative Development General Directorate at the ministry Dr. Sayed Issa has warned against the practice of some cooperative societies that requested exemptions to disburse funds from their upcoming budgets for distributing purchase balances before being approved by the General Assembly.
He stressed that this approach is unacceptable, inconsistent with the laws and ministerial decrees regulating cooperative work, and cannot be considered a substitute for good planning. He said the ministry is operating in a phase that demands firmness and total discipline in applying the law. He asserted that the era of relying on exceptions or pledges is over, and that the current phase necessitates a radical change in the way cooperative societies are managed. He pointed out that it has been repeatedly emphasized to all boards of directors, whether elected or appointed, that cooperatives must fully abide by the legal and regulatory frameworks.
He added that the month of Ramadan is not an emergency or a sudden event, but rather a wellknown and predetermined season. “Therefore, it is unacceptable that some cooperatives treat it as a sudden obligation, only to return at the last minute requesting exceptions or making pledges in order to distribute the Ramadan purchase balance to their shareholders in an attempt to compensate for the delay and improve their image with the shareholders,” he stated.
He pointed out that resorting to what he described as “social pressure” on the ministry is a flawed and unacceptable approach. He said the negligence or miscalculation of the boards of directors in financial planning does not obligate the ministry to cover up or rectify this oversight by granting exceptions. He stressed that regulatory bodies cannot be held responsible for the administrative errors that could have been avoided through proper planning. He reiterated that the ministry can neither reward administrative negligence by granting exceptions, nor overlook regulatory violations under any social pretext. He affirmed that the law is applied without discrimination, in accordance with the principles of corporate governance, to solidify the concept of professional work within the cooperative sector.
By Fares Ghaleb Al-Seyassah/Arab Times Staff
