According to a decision of the Council of Ministers, consumer protection societies have to be funded by the Kingdom’s chambers of commerce. For this purpose, each chamber will have to contribute 10 percent of its annual income from its endorsement fees.

Businessmen at the JCCI say that the funding clause contradicts their interests. When the clause is implemented, JCCI will have to give SR5 million, which is 10 percent of the JCCI’s earning of SR50 million from endorsement of documents in 2009. Some members wanted to know how the fund could be used for the benefit of consumers without antagonizing the interests of businessmen.

“The JCCI has not implemented this clause yet. Most of the chambers in the Kingdom are against this kind of funding, not because it involves taking away of chambers’ revenue but there is an apparent conflict of interests: How we traders could be expected to finance a society that seeks to protect consumers from us. Of course there is confusion in the matter. We have discussed the matter with the concerned minister and convinced him of our stand in the matter,” JCCI Chairman, Saleh Kamel, who is also chairman of the Council of Saudi Chambers and Industry, said.

While addressing a general assembly of JCCI, Kamel disclosed the JCCI’s intention to establish an SR100-million company with its own financing with employment opportunities for 1,000 youths in Jeddah. This is the first time the JCCI is establishing a company or investment fund.

"This kind of company was established in the Islamic Chamber of Commerce and Industry with a $120 million investment several years ago. That company participates in projects in the Muslim countries in Africa with investments worth more than $2 billion," Kamel said.

He added that the establishment of a company of this kind is easier than launching an investment fund because a company could be established in a month while the establishment of an investment fund would require eight months at the least.