3 Benefits for Citizens in the New "Cooperatives List"

Faisal Matar – The new cooperative societies regulation, approved last July, offers a dual benefit to consumers and cooperative societies by expanding the ability of citizens and residents to earn returns on their purchases, boosting cooperative sales, and enhancing their competitiveness. A senior source told Al-Qabas that the benefits stipulated in the new regulation will come into effect after the launch of the unified electronic platform, which the Ministry of Social Affairs and Labor is working to complete within a six-month timeframe, alongside preparing the necessary technical and operational mechanisms to implement these benefits.

The source clarified that, in addition to raising the maximum cash profit limit for citizen shareholders from 12% to 15% and granting them a 3% purchase return in the form of points in the cooperative they contribute to, the regulation includes a third feature allowing them to obtain a similar purchase return from another cooperative of their choice. He added that, once the platform is operational, citizens will be able to open points accounts in other cooperatives and earn a 3% purchase return, calculated based on their spending value, which they can use for subsequent purchases.

He noted that the benefit will also extend to residents, who will be able to open a points account in one cooperative and earn a 3% purchase return, which they can later use to make purchases from that same cooperative. He pointed out that the 3% purchase return exceeds what parallel markets offer through their points programs, which do not exceed 1%, thereby enhancing the competitiveness of cooperatives and encouraging citizens and residents to increase their spending with them.

The points system will be part of the unified electronic platform for managing the administrative and financial aspects of cooperative societies. The associated benefits will be implemented after the platform is completed and launched, and the necessary technical and operational mechanisms are put in place.