Kuwait ministry boosts transparency and oversight in cooperative sector
KUWAIT CITY - Minister of Social Affairs, Family and Childhood Affairs Dr. Amthal Al-Huwaila emphasized the ministry's commitment to improving work in the cooperative sector and enhancing transparency by supporting monitors and inspectors, calling them the 'trustworthy eyes of the state' in cooperative societies.
Speaking at an open meeting with the Ministry's Control and Inspection Department, Dr. Al-Huwailah said the meeting aimed to strengthen the institutional work environment and address field challenges. She highlighted the cooperative sector as a unique and praised model in Kuwait and the Gulf, with significant social and economic benefits, stressing that contributing citizens are key partners in this national development.
She stressed teamwork and professionalism, noting that many financial and administrative issues in some societies arise from weak oversight or supervisory lapses. Responsibility begins with individual commitment to duties. She praised the Control and Inspection Department's success in detecting violations and fighting corruption alongside the Ministry of Interior, reflecting the competence of national cadres in safeguarding public funds and promoting integrity.
The Minister encouraged employees to be transparent and share field observations, acknowledging the pressures inspectors face. She reaffirmed the ministry's commitment to developing control and technical systems to provide services aligned with international standards, boosting citizen satisfaction and trust in Kuwait's cooperative sector.
Acting Assistant Undersecretary for the Cooperative Sector Ahmed Al-Furaij said the meeting was part of the Minister's efforts to communicate directly with inspectors to support and motivate them. The meeting produced recommendations emphasizing adherence to the new Nazaha Law, especially regarding financial disclosures and conflict of interest declarations.
Al-Furaij noted the Minister values auditors' field experience and prioritizes their recommendations when drafting ministerial regulations. Key topics included auditors' observations on administrative and financial expenses, supplier payments, and social services in cooperative societies. Proposals will be submitted for regulatory amendments to enhance transparency.
He outlined a comprehensive development plan that includes ongoing legal, administrative, and financial training for auditors and the introduction of advanced technologies such as electronic reports, digital correspondence, and an electronic check system. The ministry is launching a pilot phase of an integrated digital oversight project, selecting prototype associations to monitor financial and administrative activities.
Al-Furaij stressed this pilot represents a major step to tighten control and improve cooperative performance, with evaluation before wider application. On report accuracy, he said auditing takes time to ensure data reliability and professionalism, with careful review guaranteeing objective and trustworthy reports.
Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
10 hours ago
- The National
UAE-Serbia trade to accelerate as Cepa comes into effect
The Comprehensive Economic Partnership Agreement between the UAE and Serbia came into force on Saturday, as the Emirates continues to strengthen its trade relations globally. The UAE's 10th Cepa is expected to boost trade and investment flows, and remove or significantly reduce tariffs, which will all lay the foundations for enhanced co-operation across a spectrum of critical industries, the Ministry of Foreign Trade said in a statement on Saturday. The deal is also leading to projections that bilateral trade between the two nations will contribute around $351 million to the UAE's gross domestic product by 2031, it added. The UAE is Serbia's leading trading partner in the Gulf, accounting for approximately 55 per cent of its total trade with the region in 2023, according to government data. The UAE-Serbia Cepa is another "new chapter in our economic relations, creating new avenues for collaboration, investment and trade that will benefit both our nations", Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, said in the statement. "Through this agreement we are committed to unlocking significant opportunities that will create jobs, strengthen supply chains and facilitate a thriving environment for businesses in both countries," he added. Cepas that the UAE has already signed with nations from Colombia to Australia have contributed Dh135 billion ($36.8 billion) to the country's non-oil trade, an increase of 42 per cent compared with the previous year, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said previously. The UAE's non-oil foreign trade hit a record Dh3 trillion last year − up 14.6 per cent year-on-year − as the country continues to diversify its economy and forges closer trade ties with countries around the world. The Cepa programme is key for the UAE's economic growth. The Arab world's second largest economy aims to boost its gross domestic product to $800 billion by 2030, with a target of more than $1.1 trillion in total non-oil trade by 2031. Overall, the UAE has concluded 27 deals as part of the Cepa initiative. In 2025 alone, and counting Serbia's, the UAE has signed seven new deals with Malaysia, New Zealand, Kenya, Ukraine, Central African Republic, Costa Rica and Mauritius. The UAE and EU are also in discussions for a Cepa, with both sides moving closer to an agreement, Maros Sefcovic, EU Commissioner for Trade and Economic Security, told The National this week. The UAE's Cepa with Serbia is projected to further boost non-oil trade between the two countries, which hit about $121.4 million in 2024, twice that compared to 2021 levels, according to government data. Serbia is positioned as a key partner for the UAE, with its diverse economy and strategic location providing a vital gateway into Eastern Europe and the Balkans. "The Cepa is expected to not only enhance trade but also increase private sector collaboration and promote investments in priority sectors such as renewable energy, agriculture, logistics and technology," the statement said. The bilateral relationship has been further strengthened by increasing flows of FDI [foreign direct investment], which has been directed towards high-growth sectors, enhancing shared economic interests."
Khaleej Times
a day ago
- Khaleej Times
Performance-driven marketing firm Wisoft Solutions launches Indian operations
Wisoft Solutions, a UAE-based digital marketing agency with over a decade of operations in the Gulf region, has announced the expansion of its operations to Bengaluru, India. The move is part of the company's broader vision to create a seamless marketing bridge between businesses operating across the Middle East and the Indian subcontinent. Founded in Dubai in 2010, Wisoft solutions has grown into a performance-focused agency with clients across real estate, education and healthcare sectors. The company has also established a presence in Saudi Arabia and the United States. With India emerging as a key digital economy, the new Bengaluru hub is expected to enhance its ability to support brands navigating expansion between the GCC and India. 'India is not just a strategic geography for digital consumption — it's increasingly becoming a destination for business expansion and brand building,' said Saji S Nair, CEO and founder of Wisoft Solutions. 'We've worked with many Gulf-based brands seeking traction in Indian markets and vice versa. Bengaluru allows us to be on the ground, closer to evolving consumer behaviours, talent, and innovation.' Wisoft's move comes at a time when businesses in both regions are investing more heavily in marketing technologies and automation. The company's offerings, which include performance marketing, SEO, digital branding, social engagement strategies, and marketing automation, are positioned to serve organisations looking to optimise visibility and customer acquisition in a cross-border context. The choice of Bengaluru, India's technology and innovation capital, aligns with the city's growing importance as a hub for startups, multinational firms, and data-driven service industries. Wisoft solutions aims to collaborate with Indian enterprises expanding into GCC markets, particularly in sectors such as education, healthcare, fintech and real estate. Sangeetha Saji, managing director, noted that the expansion also builds on the existing expertise the company has cultivated across regional markets. 'We understand the nuances of both the GCC and Indian audiences. This dual-market fluency helps us offer targeted strategies that reflect cultural, linguistic and platform-specific preferences.' The expansion signals an increasing integration between digital economies in the Middle East and India, a trend accelerated by e-commerce growth, cross-border investment and diaspora-driven demand. Wisoft's Bengaluru office is expected to focus on strategy consulting, campaign execution and digital infrastructure services for clients operating across these economic corridors. As digital-first strategies become a prerequisite for business scalability, Wisoft solutions's expanded footprint aims to meet the rising need for high-performance, localised marketing execution with global scalability.
Khaleej Times
a day ago
- Khaleej Times
TAG Heuer celebrates return to Monaco with 3 new limited-edition watches
There are circuits, and then there's Monaco — a serpentine ribbon of tarmac winding through Monte Carlo's glittering heart, the Holy Grail of motorsport drama. Narrow, treacherous, and intoxicatingly glamorous — it's here, amid the engine roars and Riviera splendour, that the TAG Heuer Monaco forged its identity. Born in 1969 and named after this crown jewel of Formula 1, the Monaco was a mechanical renegade — the world's first square, water-resistant automatic chronograph, and a timekeeper of daring, destined to famously ride shotgun in racing legend. This year, as TAG Heuer takes the pole position as the first-ever title sponsor of the Formula 1 TAG Heuer Grand Prix de Monaco, it unveils a trio of Monaco watches. Each limited-edition piece tells its own story — of cinema, precision, and horological audacity. Monaco Chronograph x Gulf You can't mention the Monaco without invoking Steve McQueen — the epitome of racing cool — whose wrist famously sported a blue-dial Heuer Monaco in Le Mans. While the Gulf-striped Monaco wasn't the exact watch he wore, it stands as a vibrant tribute to the era, echoing the colours of McQueen's race car and suit. More than a timepiece, it's a symbol of his fearless spirit and TAG Heuer's deep-rooted connection to motorsport, capturing the raw energy of the track and the glamour of a time when style and speed collided gloriously. This 2025 edition revisits that electric moment with reverence and flair. Limited to 971 pieces, it revives the iconic left-side crown and square case configuration from 1969, powered by the Calibre 11. The dial is a symphony in silver grain, adorned with Gulf's unmistakable blue and orange racing livery — a palette that mirrors McQueen's suit and his Porsche 917K. The vintage Heuer shield above the dial seals the nostalgia. It's cinematic timekeeping in its most authentic form — a wearable reel of motor racing history. Monaco Chronograph Stopwatch TAG Heuer's second act is a tribute to timing itself — a love letter to the rugged, neck-worn stopwatches of the '60s and '70s. The Monaco Chronograph Stopwatch is more instrument than ornament. Encased in lightweight black DLC-coated titanium, the square form frames a stark black circular dial — a design echoing pit lane urgency. Red accents pulse across the minute track, while high-contrast subdials, faceted hands, and blackened indices sharpen the focus. At its heart ticks the Calibre 11, still anchored by Monaco's unmistakable left-side crown. Limited to 970 pieces, this model channels the spirit of Jack Heuer's relentless pursuit of clarity and function, where form follows pure purpose. Monaco Split-Seconds Chronograph The final chapter in this special trilogy is the most radical — a timepiece that defies convention and flirts with the future. The Monaco Split-Seconds Chronograph is more a leap than an evolution. Housed in TH-Titanium, a proprietary alloy with raw, elemental texture, this watch crackles with innovation. The TH81-00 calibre — crafted almost entirely from titanium — powers a split-seconds function that allows dual event timing, its lime green rattrapante hand slicing across the dial with razor precision. The checkered-flag rotor, hand-painted accents, and racing cues throughout transform it from tool to art. Every angle, every component is a reminder that racing — and watchmaking — are both theatres of ambition. Each of these limited editions is a distillation of the Monaco's essence: technical ingenuity, bold design, and a soul stitched to the Monte Carlo tarmac. With nostalgia-drenched elegance and cutting-edge engineering, these watches make TAG Heuer's return to Monaco more than a partnership — they mark an emphatic homecoming.
