Co-op Sector Refers Lease Contracts Of Some Violating Shops To Nazaha

The Co-operative Sector in the Ministry of Social Affairs has finally referred the lease contracts of some establishments in cooperative societies to Kuwait Anti-Corruption Authority (Nazaha), reports Al-Jarida daily quoting sources from the ministry. Speaking to the daily, sources revealed the total value of the contracts of some establishments like car garages and car repair shops exceeded KD 1 million with monthly rent ranging from KD 5,000 to KD 8,000. Sources explained the ministry took this step to ensure strict compliance with legal frameworks, such that these establishments do not deviate from the activities they have been licensed for and to investigate them regarding the alleged money laundering in their activities.

Contacted
Sources said Nazaha contacted the ministry to inquire about the investment contract of a car garage affiliated to a cooperative society in Hawally Governorate valued at KD 850,000. In line with the principle of transparency, the ministry decided to ask Nazaha to review the contracts of some garages in the branches of cooperative societies with a total value of more than KD 1 million in a bid to ensure they have not committed any violation, sources added. According to sources, more than 6,650 establishments are currently operating in 72 co-operatives and the ministry is keen on monitoring them to make sure that the investors are doing their business in line with the law.

 

 

SOURCE  ARABTIMES

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