Minister of Social Affairs and Minister of State for Economic Affairs Maryam Al-Aqeel announced on Monday referring boards of Al-Jabriyah and Fahad Al-Ahmad cooperative societies and two board members of Al-Naeem society to the public prosecution due to grave financial irregularities.
The minister said in a statement to KUNA the legal action against the boards and the members was taken in line with a memo filed by the cooperative sector of the ministry of social affairs with respect of discovering violations in works of these societies, noting that the two board members of Al-Naeem society had been dismissed due to same reasons.
The memo calls for speedy legal action against the boards and the boards’ members to protect funds of shareholders and maintain good image of the cooperative sector in the country.
Minister Al-Aqeel has warned that she will not hesitate to refer any breaching society to the judicial authorities.
She issued two decisions on Sunday, dissolving boards of Al-Jabriyah and Fahad Al-Ahmad coops and appointing interim managers for each.
Source: Kuwait News Agency