Minister of 'Social Affairs': Dissolves Cooperative Society Board of Directors and Refers Cases and Staff to the Public Prosecution
The Minister of Social Affairs issued a decision to dissolve the board of directors of a cooperative society and appoint an interim board, while referring cases and staff to the Public Prosecution to ensure integrity and protect shareholders' funds.
Translated by Qiyas from السياسة — Original source
Dr. Amthal Al-Huwail, Minister of Social Affairs, Family, and Childhood, issued a ministerial decision dissolving the board of directors of a cooperative society and appointing an interim board to manage its affairs, following the results of inspections, audits, and oversight conducted by the ministry.
Al-Huwail emphasized that the decision falls within the ministry’s supervisory and regulatory responsibilities over the cooperative sector, reflecting its commitment to protecting shareholders’ funds and reinforcing principles of integrity, transparency, corporate governance, and compliance with laws and regulations governing cooperative activities.
She clarified that the ministry has also referred several incidents and the individuals involved, who are employees of the cooperative, to the Public Prosecution for investigation and to determine legal responsibilities based on the findings of the inquiries.
The minister added that the appointment of an interim board aims to ensure the continuity of the cooperative’s operations and the regular provision of its services to shareholders and residents of the area, safeguarding their interests during the transitional period until all prescribed legal and regulatory procedures are completed.
Al-Huwail stressed that the ministry will continue its oversight and auditing of cooperative societies, taking legal action against any violations detected, in order to protect shareholders’ funds and enhance the efficiency and sustainability of the cooperative sector.
