Al-Huwail: Financial disclosure mandatory for cooperative society members
Social Affairs Minister Dr. Amthal Al-Huwail stressed the necessity of financial disclosure for cooperative society members to enhance integrity, transparency, and protect shareholders' funds.
Translated by Qiyas from الوسط — Original source
The Minister of Social Affairs, Labor, and Social Development, Dr. Amthal Al-Huwaili, affirmed 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-Huwaili said that the ministry had notified members of the necessity to visit the Public Authority for Combating Corruption (Nizaha) immediately upon assuming their positions, to complete the procedures related to financial disclosures in accordance with applicable laws and regulations.
She added that the Ministry’s Department of Development and Cooperative Membership Affairs is responsible for monitoring members’ compliance with these procedures, emphasizing that strengthening oversight and entrenching the principles of governance and accountability constitute a fundamental priority for safeguarding the cooperative sector and protecting shareholders’ rights.
