Al-Hawila: Financial Disclosure Mandatory for Appointees and Elected Officials in Cooperative Societies - Sarmad
Minister of Social Affairs Dr. Amthal Al-Hawila emphasized the mandatory submission of financial disclosures by all appointees and elected officials in cooperative societies to ensure integrity and protect shareholders' funds.
Translated by Qiyas from سرمد — Original source
The Minister of Social Affairs, Family, and Childhood Affairs, Dr. Amthal Al-Huwaili, affirmed the ministry’s commitment to ensuring that all relevant parties in cooperative societies submit financial disclosure statements, whether they are appointed or elected members, in order to uphold the principles of integrity and transparency and to protect shareholders’ funds.
Dr. Al-Huwaili clarified that the ministry insists on informing relevant parties of the necessity to report to 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 emphasized that the Ministry’s Department of Development and Cooperative Membership Affairs is responsible for monitoring compliance with these procedures, stressing that strengthening oversight and entrenching the principles of governance and accountability constitute a fundamental priority for safeguarding the cooperative sector and protecting shareholders’ rights.
