Minister of Cooperatives: Strict oversight to protect the assets of cooperative society shareholders

Minister of Social Affairs, Family, and Childhood Affairs, Dr. Amthal Al-Huwail, stressed on Sunday the importance of strengthening oversight to protect the assets of shareholders in cooperative societies, emphasizing that there will be no leniency toward any financial or administrative violations that harm their interests.

Speaking to the press during an inspection tour of the cooperation sector at the Ministries Complex, Minister Al-Huwail said that field visits allow for direct assessment of the nature of work, listening to the observations of employees and auditors, and identifying actual needs to develop procedures on a practical basis.

She clarified that developing the cooperation sector is a priority in the ministry’s plans, given its pivotal role in regulating cooperative activities, monitoring the performance of societies, and ensuring their compliance with laws and regulations, thereby enhancing the quality of services provided to citizens.

She noted that protecting shareholders’ assets is a top responsibility, achieved by strengthening oversight on expenditure and investment channels, monitoring the integrity of procedures, and ensuring that resources are directed in a manner that serves the public interest and benefits local communities.

She called for enhanced coordination among the cooperation sector departments, harmonization of procedures and operational mechanisms, and improved communication with cooperative societies to ensure prompt handling of observations, timely responses to inquiries, and the expeditious processing of files without unjustified delays.

Minister Al-Huwail affirmed the ministry’s continued efforts to review and develop the cooperative work system in line with changing circumstances, reinforcing principles of governance, integrity, and accountability, and enhancing the economic and social role of societies in serving society.