Both sides accuse each other of violating ceasefire in Libya
January 12, 2020, 12:05 pm

Both sides accuse each other of violating ceasefire in Libya

Both of Libya’s warring factions accused each other of violating a ceasefire proposed by Turkey and Russia, as fighting continued around the capital, Tripoli, on Sunday.

The Turkish and Russian presidents had called for the ceasefire to start on Sunday, more than nine months into an offensive on Tripoli by the eastern-based Libyan National Army (LNA) led by Khalifa Haftar.

Both the LNA and the Tripoli-based, UN-recognized Government of National Accord (GNA) had said they conditionally agreed to the truce.

But the GNA said in a statement that it had recorded gunfire in the Salaheddin and Wadi Rabea areas “minutes” after the ceasefire was meant to start at 0001 a.m. on Sunday (Saturday 2201 GMT).

From early on Sunday morning exchanges of fire could be heard in Salaheddin and Ain Zara districts.

Any attempt to impose a lasting ceasefire will be hard to enforce because of the splintered nature of Libya’s military coalitions, with disparate factions and foreign fighters deployed on both sides. Both sides refer to each other as militias.

“The (GNA) militias violated the truce on more than one battlefront, with all types of weapons,” said LNA commander Al-Mabrouk Al-Gazawi, adding that forces were waiting for further instruction from LNA general command.

The GNA said in a statement it had recorded violations by “the aggressor’s militias” but that it “renews its commitment to the ceasefire, and emphasizes the need for commitment from the patrons of this ceasefire and the United Nations mission in Libya in applying it optimally.”

Turkey’s defence ministry said it had observed that all sides were trying to abide by the ceasefire, and that the situation was calm except for “one or two separate incidents.”

The ceasefire call came after a recent escalation of fighting around Tripoli, and the LNA’s advance into Sirte, a strategically important city midway along Libya’s coastline.

It also came as the United Nations and European powers pushed for a summit in Berlin aimed at winding down foreign involvement and resuming a peace process upended by Haftar’s advance.

The LNA has reportedly received backing from the United Arab Emirates, Jordan, Egypt and Russia, while Turkey backs the GNA and voted this month to allow a troop deployment to the North African country.

US hails Taiwan leader’s re-election, ‘robust’ democracy Bahrain’s Bapco hit by Iranian data wiper malware attack: Report

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.