Major shake-up at Al-Firdous Cooperative; 8 board members dismissed
. . . for committing serious violations
Minister of Social Affairs, Family and Childhood Affairs Dr. Amthal Al-Huwailah has issued a ministerial decision dismissing eight members of the Board of Directors of the Al-Firdous Cooperative Society over what were described as serious financial and administrative violations.
The decision came after audit and inspection reports by the relevant authorities revealed a number of financial and administrative violations committed by the board members.
The ministerial decision stipulates the immediate dismissal of the violating board members and the commencement of legal procedures in line with laws and regulations governing cooperative societies. The measure is intended to protect cooperative funds and maintain the proper functioning and transparency of the association.
Under the decision, the dismissed members are required to hand over all funds, records, documents and official papers belonging to the cooperative society that remain in their possession within one week from the date of the decision.
Dr. Al-Huwailah stressed that the ministry remains committed to enforcing the law without exception and will not tolerate any violations that compromise shareholders’ funds or undermine transparency, governance and integrity within the cooperative sector reports a local Arabic daily.
She added that the ministry will continue implementing its oversight and monitoring plans to strengthen the efficiency of cooperative societies, protect shareholders’ rights and hold accountable anyone found negligent or in violation of applicable laws and regulations.
The minister emphasized that these measures are necessary to ensure the stability of cooperative societies and support their continued developmental and service role in the country.
