Saudi Gazette report

RIYADH - Minister of Commerce Majed Al-Qasabi has ordered dissolution of the board of directors of the Chamber of Commerce and Industry in Tabuk for the four-year current session (1440-1444 AH). The decision was taken on the basis of powers assigned to the minister under the Law of Chambers of Commerce and its executive regulations.

The ministerial decision came after it was proven that the chamber’s board of directors exceeded the limits of its powers and disrupted the chamber’s performance and its inability to perform its duties as a result of disputes among members of the board.

Al-Qasabi directed the general assembly of the Tabuk chamber to hold early elections to constitute a new board of directors and start receiving nominations for this from Feb. 6. This is the first ministerial decision to dissolve the board of directors of a chamber of commerce since the new Chambers of Commerce Law came into force. The law aims to raise the efficiency of chambers’ performance through continuous evaluation of performances.

The ministry emphasized that the chambers of commerce were established to serve the business sector with all its components, such as small, medium and large scale enterprises, in a manner befitting the aspirations of businessmen and women as well as entrepreneurs, while noting that these chambers are non-profit establishments that have major roles in serving their beneficiaries.