The Ministry of Social Affairs has launched an investigation into a suspected money laundering transaction involving thousands of dinars at a cooperative society, after a large cash payment exceeding 5,000 dinars was reportedly made in a single transaction.
Sources said the ministry, through its Financial and Administrative Affairs and Cooperative Affairs Sector, has taken legal measures and referred the case to the competent investigative authorities to determine the details and circumstances surrounding the transaction.
The sources said the unusually large cash payment raised concerns, particularly as such transactions are considered uncommon in the cooperative sector and could potentially expose the system to financial irregularities.
Following the incident, the ministry issued a circular to all cooperative society boards of directors, stressing strict compliance with regulations issued by the Ministry of Commerce and Industry and other relevant authorities regarding cash transaction limits.
Under the new instructions, cash payments and sales transactions at cooperative central markets and branches must not exceed 200 dinars, with electronic or non-cash payment methods required for amounts above the approved limit.
The ministry warned cooperative boards against allowing any suspicious financial practices, stressing that violations affecting public funds or the integrity of cooperative operations will not be tolerated.
It confirmed that any detected violations will be immediately referred to the relevant authorities, with those responsible held accountable under Kuwait’s laws and regulations governing cooperative work.
The ministry said the new measures are part of efforts to strengthen financial oversight, enhance transparency and prevent cooperatives from being exploited for illegal financial activities.
Officials also urged cooperative societies to maintain strict internal controls and ensure that all financial operations comply with national regulations aimed at protecting public funds and ensuring the integrity of the cooperative sector.
