SR1 million goes missing from account of chamber
A member of a local chamber of commerce in the country recently discovered the disappearance of SR1 million from the chamber’s accounts.
The member also said that a SR50,000 bonus was given to another member without the approval of the board of directors.
Several chamber members have since moved to file a case at the Grievances Court to re-examine accounts, expenses and revenues to ascertain where the missing money has gone.
Other members suggested postponing the case until the Commerce Minister Tawfiq Al-Rabiah is briefed on the details of these incidents.
Sources said the incident had surfaced when the chamber held an event, for which the board of directors had devoted a large budget of around SR1.5 million.
Members were later surprised to discover that almost SR2.4 million had been paid, exceeding the budget by SR900,000.