Biden assures Israel he won't tolerate nuclear Iran
June 29, 2021, 6:14 am

Biden assures Israel he won't tolerate nuclear Iran

AP reported that President Joe Biden sought to assure Israel that he would not tolerate a nuclear Iran as he met with outgoing Israeli President Reuven Rivlin on Monday amid a major shakeup in Israeli politics and growing angst in Tel Aviv over the U.S. administration’s effort to reenter the Iran nuclear deal.

According to AP, Biden noted that he had ordered airstrikes a day earlier targeting facilities the U.S. military says were used by Iran-backed militia groups near the border between Iraq and Syria. The rhetoric seemed to underscore that he would remain tough on malign Iran activity even as he seeks a diplomatic track to stem Tehran’s nuclear program.

“What I can say to you is that Iran will never get a nuclear weapon on my watch,” Biden said at the White House meeting.

The meeting with Rivlin, who is making his final foreign trip of his presidency, took place just weeks after Naftali Bennett became Israel’s new prime minister, replacing Benjamin Netanyahu.

The Biden administration, meanwhile, has intensified efforts to revive Iran’s 2015 accord with world powers to limit Tehran’s ability to develop nuclear weapons. Former President Donald Trump, with Netanyahu’s backing, scrapped the accord in 2018.

AP reported Biden as saying he hoped to meet the new prime minister at the White House “very soon.”

Rivlin is set to leave office on July 7 after a seven-year term. Isaac Herzog, a former parliament member who most recently headed a nonprofit that works closely with the government to promote immigration to Israel, will take over as Israeli president.

Rivlin met later Monday with House Speaker Nancy Pelosi. Both leaders stressed the friendship between their countries, although Rivlin noted disagreements as well.

Biden said he and the Israeli president would talk about Iran and the aftermath of the Gaza war. The president also underscored his support for continued normalization of relations between Israel and countries in the Arab and Muslim world and planned to reiterate the administration’s promise to resupply Israel’s Iron Dome missile defense system, which was depleted during the 11-day war with Hamas in Gaza.

The latest conflict claimed at least 254 Palestinian lives and killed 13 people in Israel.

Biden has low hopes, at least for the moment, of reviving Israeli-Palestinian peace talks, according to an official familiar with Biden administration deliberations. The official, who spoke on the condition of anonymity to discuss private deliberations, said Biden administration officials are starting at square one in building contacts with the Palestinian Authority in the West Bank, a relationship that eroded during the Trump administration.

The meeting with Rivlin comes one day after U.S. Secretary of State Antony Blinken met in Rome with Israeli Foreign Minister Yair Lapid, a centrist who along with Bennett and six other political allies built a fragile coalition government that put Netanyahu in the opposition.

Aviv Kochavi, chief of staff of Israel Defense Forces, met last week with Biden’s national security adviser, Jake Sullivan, and other senior national security officials. Kochavi reiterated Israel’s opposition to efforts by the Biden administration to revive the 2015 accord.

Administration officials, however, have countered in talks with Kochavi and others in the new Israeli government that it’s worth giving diplomacy a shot at stopping Tehran from acquiring a nuclear weapons system, even if it’s not guaranteed, the official said.

Source: AP

Image source: AP

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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.