Afghanistan's future in the balance as US, Taliban sign deal
February 29, 2020, 9:03 am

Afghanistan's future in the balance as US, Taliban sign deal

Washington and the Taliban plan to sign a landmark deal on the withdrawal of US forces which could herald the start of a new era for Afghanistan after decades of conflict File photo AFP

Washington and the Taliban are set to sign a landmark deal in Doha on Saturday that would see them agree to the withdrawal of thousands of US troops from Afghanistan in return for insurgent guarantees.

President Donald Trump urged the Afghan people to embrace the chance for a new future, saying the deal held out the possibility of ending the 18-year conflict.

"If the Taliban and the government of Afghanistan live up to these commitments, we will have a powerful path forward to end the war in Afghanistan and bring our troops home," he said on the eve of the event.

Secretary of State Mike Pompeo arrived in Doha to witness the signing of the accord, while Trump said Defence Secretary Mark Esper would separately issue a joint declaration with the Kabul government.

The agreement is expected to lead to a dialogue between the Kabul government and the Taliban that, if successful, could ultimately see the Afghan war winding down.

But the position of the Afghan government, which has been excluded from direct US-Taliban talks, remains unclear and the country is gripped by a fresh political crisis amid contested election results.

The deal, drafted over a tempestuous year of dialogue marked by the abrupt cancellation of the effort by Trump in September, is expected to lay out a timetable for a US force withdrawal.

While Kabul will not be represented at the Doha signing, set for 1245 GMT, it will send a six-person task force to the Qatari capital to make initial contact with the Taliban political office, established in 2013.

The Taliban's spokesman in Doha, Suhail Shaheen, told a Qatari newspaper that he expected the group's presence in the Gulf state to continue after Saturday's signing to facilitate engagement with the Kabul government.

Qatar, a peninsula nation protruding from the Arabian desert into the Gulf and better known for its gas riches and controversial 2022 World Cup bid victory, was a seemingly unlikely choice to host negotiations.

But by providing neutral space for talks on ending the conflict, it has boosted its international profile and helped it defy a painful regional embargo led by Saudi Arabia, which accuses it of being too close to Islamist movements.

Talks have taken place in a plush members' club in Doha, where turbaned Taliban fighters-turned-negotiators and suited American officials have rubbed shoulders with club-goers in Hawaiian shirts and swimwear.

As many as 30 nations are expected to be represented at Saturday's signing in the Qatari capital. The US will stage a separate ceremony in Kabul with the Afghan government at 1215 GMT, an Afghan source told AFP.

The inking of the deal will come after a week-long, partial truce that has mostly held across Afghanistan, aimed at building confidence between the warring parties and showing the Taliban can control their forces.

While isolated attacks have continued in rural areas, Pompeo said Tuesday that the truce period was "working".

"We're on the cusp of an enormous, enormous political opportunity," he said.

The US, which currently has between 12,000 and 13,000 troops in Afghanistan, could draw that number down to 8,600 within months of the agreement being signed.

Further reductions would depend on the Taliban's engagement with Ghani's government, which they have until now dismissed as a US puppet.

"This is just a precursor to get that process started, it's not a cause for celebration among the government or its allies," said International Crisis Group analyst Andrew Watkins.

Ghani has been declared the winner of last year's election, but his main rival, Abdullah Abdullah, is refusing to recognize the win and has vowed to set up a rival government.

Any insurgent pledge to guarantee Afghanistan is never again used by jihadist groups such as Al-Qaeda and Islamic State to plot attacks abroad will be key to the deal's viability.

The Taliban's sheltering of Al-Qaeda was the main reason for the US invasion following the 9/11 attacks.

The conflict has cost the US taxpayer more than $1 trillion in military and rebuilding costs since the US-led invasion of 2001.

More than 100,000 Afghan civilians have been killed or wounded over the past decade, according to the United Nations.

source: AFP

ISSUE 9 March 2020 Nine Hezbollah members killed, 30 wounded in Turkish strike in Syria: Source

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.