MAKKAH: A general assembly meeting of the Tawafa Organization for Iranian Pilgrims voted against a plan to invest the organization’s surplus income in real estate.
Members, instead, favored the amount be disbursed among them in line with a royal decree. The organization has an accumulated total of SR120 million in profit over the past 39 years.
Talal Qutub, chairman of the organization, denied reports that the general assembly forced him to vote on the issue.
“The Haj minister’s order stipulates that the subject of investment of the surplus revenue should be presented to the board of directors before a decision is taken,” said Qutub. “Accordingly, it was the board of directors that decided to invest in real estate. The procedures also require approval by the general assembly,” he added.
Nevertheless, the chairman faulted many members for striving to protect personal interests over those of pilgrims.
“Some members were driven by a desire to augment their personal gains, while the organization seeks to improve the level of services offered to pilgrims. That is why the board of directors decided to invest the sum for the general benefit of the establishment,” Qutub said.
Proceeds from the investment would have ultimately gone to the members, he added.
