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New cooperative system features and outlook
The Council of Ministers, headed by Crown Prince Mohammed bin Salman, approved the new Cooperative Societies System, which represents a legislative and developmental step aimed at empowering the cooperative sector in the Kingdom. The system enhances the competitiveness and sustainability of cooperative associations and supports the goals of Vision 2030 through the development of the third sector, promoting community participation, and enabling local economies. The system includes administrative and regulatory facilitations to accelerate the establishment and management of cooperatives, with clear regulation of the roles of councils, financial oversight, and profit distribution. It provides a flexible framework that fosters cooperative work and social responsibility.
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