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الجريدة
Minister of Affairs announces increase in annual profits for cooperative society shareholders
The Minister of Social Affairs in Kuwait confirmed that the new regulations for organizing cooperative work will increase the annual profit share distributed to cooperative society shareholders from 12% to 15% of their total purchases, aiming to enhance the direct returns to shareholders and improve the financial performance of the societies. These modifications represent a significant advancement in the cooperative sector, with a focus on increasing transparency, governance, and launching a unified electronic platform for announcing financial details and procedures. Additionally, the new regulations have been circulated to govern contracting processes, develop investment systems, and extend contract durations to 10 years, with the possibility of renewal, in order to achieve greater financial stability for cooperative societies.
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