The Board of Directors of the Cooperative Fund for Bank Employees expressed its astonishment at the government’s disregard, in the draft law on addressing the financial gap, for the fate of cooperative funds’ deposits, stressing that these deposits are completely legal and legitimate funds. The Board clarified that these deposits represent the surplus resulting from the non-profit activities of the funds and constitute the necessary reserve to ensure their continued performance of their cooperative role in serving their members.
In a statement, the Board of Directors of the Fund called on members of Parliament to re-examine the provisions of the draft financial gap law and introduce an amendment that restores to the cooperative funds their deposits held in banks since 2020. The Board also hopes that the head of the “Federation of Cooperative Funds” will invite representatives of the funds under its umbrella to a special meeting to discuss the government’s disregard for the funds of cooperative funds in the draft law, and to explore the necessary steps to defend the cooperative sector, which, according to the statement, is being subjected to “a fierce attack by those affected by the existence of cooperative funds that provide medical coverage to their members.”
