Kuwait Minister of Affairs announces new cooperative work regulation and 15% purchase return increase
Kuwait's Minister of Social Affairs and Labour, Dr. Amthal Al-Huwaila, announced the issuance of the new regulation governing cooperative work, which replaces the 2021 regulation. The update aims to modernize legislation, enhance transparency, and protect shareholders' funds. Additionally, the maximum dividend rate for shareholders has been increased from 12% to 15%. The new regulation includes reforms in the management of associations, development of the investment system, and improvement of relationships with suppliers, along with strict accounting measures to safeguard shareholders' assets. The regulation seeks to promote digital transformation and improve the efficiency of the cooperative sector to ensure its sustainability in serving food security and social development in Kuwait.
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