‘Al-Shuoon’: Benefits for Citizens and Residents in the New ‘Al-Taaawon’ List
The Ministry of Social Affairs has issued the new regulatory ordinance for cooperative work, which includes new benefits for citizens and residents. These benefits feature a purchase credit calculated at 10% in points for citizens and 3% for residents, used for transactions through a dedicated electronic app for each cooperative. Additionally, the maximum annual profits for shareholders have been raised from 12% to 15%. A platform has been launched to introduce cooperatives and develop governance practices, along with establishing mechanisms for contracts and investments to ensure transparency and integrity. These amendments aim to improve financial and administrative performance and strengthen oversight within cooperative associations.
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