Minister of Social Affairs: Mandatory Financial Liability Declarations for Appointed and Elected Members of Cooperatives
Minister of Social Affairs Amthal Al-Huwail emphasized the ministry's commitment to requiring cooperative association members to submit financial liability declarations to enhance integrity and protect shareholders' funds
Translated by Qiyas from القبس — Original source
The Minister of Social Affairs, Labor, and Cooperatives, Dr. Amal Al-Huwail, affirmed on Saturday the ministry’s commitment to ensuring that appointed and elected members of cooperative societies submit financial disclosure statements, in order to enhance integrity and transparency and protect shareholders’ funds. In a statement to the Kuwait News Agency (KUNA), Al-Huwail said the ministry had notified them to review their disclosures with the Public Authority for Combating Corruption (Nazaha) immediately upon assuming their positions, to complete the procedures related to financial disclosure statements in accordance with applicable laws and regulations. She added that the Ministry’s Department of Development and Cooperative Membership Affairs is responsible for monitoring their compliance with these procedures, emphasizing that strengthening oversight and entrenching the principles of governance and accountability are fundamental priorities for safeguarding the cooperative sector and protecting shareholders’ rights.
