4 Farwaniya Cooperative Members Accused Of Financial Violations

A recent report by a local press has uncovered revelations from the investigative committee responsible for examining the operations and financial records of a cooperative society in Farwaniya Governorate. The committee has proposed the dismissal of four board members due to alleged financial and administrative violations. The recommended actions are based on concerns about potential harm to the cooperative's financial stability.

According to sources from the Ministry of Affairs, the Cooperative Work Review Committee has submitted its conclusive report to the Ministry of Cooperative Work's investigation committee. This committee will now initiate the examination and auditing process to verify the identified financial and administrative violations. The report will include supporting evidence and documents for each violation.

Comprising six members from the Fatwa and Legislation Department, the committee will gather statements from implicated board members and those associated with observed violations. Additionally, it will engage with financial and administrative observers to confirm the violations. The committee is expected to present its recommendations to the Minister of Social Affairs, who will be responsible for taking necessary legal actions.

Key violations identified include financial deficits, inflated stagnant goods amounts due to non-compliance with purchasing policies, and mismanagement leading to increased expenses and purchases alongside decreased sales and revenues. These issues have impacted financial liquidity and weakened the association’s financial position. The ministry emphasizes its commitment to legal measures to protect the cooperative structure with an estimated annual sales total of one billion dinars, stating zero tolerance for actions detrimental to shareholders' rights and association standing.

In a related development, the Ministry’s Cooperative Control and Inspection Department organized a workshop in the northwest Sulaibikhat region. Titled "Tasks of Financial and Administrative Control Departments," the workshop aimed to enhance the efficiency of administration employees, particularly financial and administrative controllers assigned to cooperative societies and unions. Ahmed Freij, Acting Assistant Undersecretary for Cooperation Sector Affairs and Director of the Cooperative Supervision and Inspection Department, highlighted the workshop's goal to increase awareness, knowledge, and expertise in line with ministerial decisions and circulars. He emphasized the need for intensified activities to enhance awareness and the cooperative culture among administration employees through periodic meetings, expressing gratitude to those responsible for organizing the workshop and its participants.

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