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KUWAIT: Minister of Social Affairs and Labor, Minister of State for Economic Affairs Hind Al-Sabeeh stressed that her decisions to dissolve co-operative societies' boards or refer their members to prosecution is done in accordance with the law and upon recommendations made by specialized committees.
Sabeeh made her statement in response to negative reactions on her decision to dissolve Kaifan Co-op Society's Board of Directors, explaining that the decision was made after a specialized committee's investigation and auditing of to the co-op's accounts. "A board dissolution decision does not necessarily have to be made only based on finding financial violations," she remarked, noting that detecting any negligence that would jeopardize squander public funds is to make such a decision in order to protect shareholders' money.
Further, Sabeeh indicated that the dissolved board, which had been in office for two years and includes veteran members who are highly skilled in the business, had allowed the main suspects involved in embezzling the co-op's funds to leave the country without holding them legally accountable.
In addition, Sabeeh noted that the embezzled amounts had grown, as shown in the investigation reports. "The co-ops law states that boards are elected, but sometimes there are exceptions which require appointing the board members according to certain regulations," she underlined.
Responding to a question about appointing a board member from a different area to run Kaifan Co-op Society, Sabeeh stressed that according to regulations, coop board members have to be selected from other areas, must be at least 30 years of age, must pass an interview and hold certificates proving they had not been legally sentenced in a court of law. "All these conditions were met in the member appointed in Kaifan," she reiterated.
In addition, Sabeeh strongly rejected describing what happened in Dasma Co-op Society as privatization, and stressed that privatization is against co-ops law. "What happened is only opening investment in various stores, restaurants and pharmacies," she underscored.
By Meshaal Al-Enezi