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Britain’s move adds to pressure on Hizbullah

The original UK decision was announced in March 2019 by Sajid Javid, the Home Secretary (Minister of the interior). It ended the long-standing distinction that had been maintained between Hizbullah’s political and military wings, and listed both as a terrorist organization.
Last week, however, the Treasury (Britain’s ministry of finance) declared that it was freezing the group's assets in the UK and making it illegal to provide any services for it. The change requires any individual or institution in Britain with accounts or financial services connected to Hizbullah to suspend them or face prosecution. The announcement followed the Treasury’s annual review of its asset-freezing register, and brought it into line with the 2019 decision.
This is the latest chapter in a long-running story. Hizbullah has been viewed with suspicion since it was founded in 1982 to fight Israel in the wake of that year’s invasion. In the 1990s it was allegedly responsible for attacks on Israeli and Jewish targets in Argentina. The US designated Hizbullah in its entirety as a terrorist organization in 1997. The UK proscribed its external security unit in 2001 and its military wing in 2008 after Hizbullah was involved in operations targeting British forces in Iraq.
In 2005 it was implicated in the assassination of Lebanon’s prime minister Rafiq al-Hariri. The following year it provoked the second Lebanon war with Israel with a cross-border raid. As a close ally of Iran, it attracted the hostility of Saudi Arabia and Gulf allies. In 2013 the European Union put Hizbullah’s armed wing on its terrorism blacklist due to the organisation’s role in blowing up an Israeli tour bus in Bulgaria. But unlike the US all European countries, had until last year, maintained a distinction between the group’s military and political wings.
The dangers of over-interpreting the latest British move are considerable given the current escalation in the Middle East: the US assassination of the Iranian Revolutionary Guards Quds Force commander Qassem Suleimani; Iranian retaliation against US bases in Iraq; the shooting down of an Ukrainian passenger plane with 176 people on board; Tehran’s threats of revenge, and mounting uncertainty about the future of the 2015 nuclear agreement are all elements – as are the continuing domestic political turmoil in Iran, Iraq and Lebanon.
Hizbullah’s leader, Hassan Nasrallah, echoed Tehran in calling America “the Great Satan.” The last known images of Suleimani before he was killed show him hugging and praying with Nasrallah in Beirut. “The American leadership said in the days after Suleimani's death that the world was a safer place,” Nasrallah said. “They will discover in blood that they were wrong. The Americans should get their army out of our region—and the alternative to them leaving vertically is leaving horizontally
In a rare interview last October, Suleimani reminisced about overseeing Hizbullah units alongside Nasrallah during the 2006 war, and revealed that he had spent all 34 days of the fighting in Lebanon. Suleimani’s role in that conflict, during which much of the Dahiya – Beirut’s southern suburb - was flattened by Israeli airstrikes, was seen as vital in holding off an even more serious Israeli incursion. Giant images of the Iranian general’s face are now plastered all over the area.
The British Treasury’s decision was welcomed by the Trump administration’s special envoy on Iran, Britain Hook, who commented that Washington “had long been seeking such a move from European allies. “We would like to congratulate the United Kingdom,” he said. “There is no distinction between Hizbullah's political arm and its military arm.” France and Germany, however, have not followed Britain’s example. “No other power has the right to decide what Lebanese political parties are good and which are not,” President Emmanuel Macron said last year. “This is up to the Lebanese people.”
Last year Britain’s opposition Labour Party objected to the ban, insisting that it had been issued under US pressure. Its leader, Jeremy Corbyn, once referred to Hizbullah and the Palestinian movement Hamas as his “friends.” Hizbullah itself described Britain’s move as showing “servile obedience” to the US.
Arguments against the blanket British ban included objections that it would inevitably mean an end to British contacts with Hizbullah members of the Lebanese parliament. A broader one was on the more principled grounds of engagement with militant groups as a way of understanding their mindset and demands. Peace in Northern Ireland, it is often said, would not have been achieved in 1997 unless the government of the Labour prime minister Tony Blair had been prepared to talk to the Irish Republican Army (IRA) - an organisation it had long defined as terrorist. Even Ireland, however, is not as complicated and beset by regional rivalries as the Middle East.
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BENEFIT AGM approves 10%...
- March 27, 2025
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.
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