Cuba is surprised by Biden because he continued Trump policies against Havana
May 26, 2021, 1:26 pm

Havana

Men work in a monument in front of the U.S. Embassy in Havana, Cuba, May 25, 2021.

REUTERS/ALEXANDRE MENEGHINI

Marc Frank

Cuba charged on Tuesday that the Biden administration has continued the policies of former U.S. President Donald Trump against Havana with a decision to maintain a Trump-era determination that it is not fully cooperating in the fight against terrorism.

“I hereby determine and certify to the Congress that the following countries are not cooperating fully with United States antiterrorism efforts,” U.S. Secretary of State Antony Blinken wrote in a brief note, which listed Cuba along with Iran, Democratic People's Republic of Korea, Syria and Venezuela.

The note was signed by Blinken on May 14 but was not released until Tuesday.

“The slander is surprising and irritating as are the application of Trump's policy and his 243 sanctions,” the Communist-run country’s foreign minister, Bruno Rodriguez, tweeted.

Asked to explain the U.S. decision, a U.S. State Department representative said on Tuesday: "In making the annual determination on ‘not cooperating fully,’ we undertake a review of a country's overall level of cooperation in our efforts to fight terrorism.”

The State Department representative added the decision was made under a “separate statutory authority” than the one for state sponsors of terrorism.

U.S. President Joe Biden, a Democrat, vowed during his campaign to reverse some of Republican Trump's Cuba measures that “have inflicted harm on the Cuban people and done nothing to advance democracy and human rights.”

He was vice president when former President Barack Obama agreed to a historic detente with then Cuban President Raul Castro and in 2016. Trump, after taking office in 2017, re-imposed many of the restrictions on Cuba business and travel that Obama had eased or lifted.

Those who supported detente on and off the Caribbean island had high hopes Biden would quickly reverse Trump’s policy, but his administration has said a shift in policy toward Cuba is not among its top foreign priorities.

Calling human rights a core pillar of U.S. Cuba policy, a senior White House official told Reuters this month that Biden remains committed to promises of loosening the flow of remittances from Cuban Americans and easing restrictions on family travel to the island. But the official declined to say when such moves might happen.

Trump designated Cuba a state sponsor of terrorism just before leaving office, a designation the Biden administration says it is reviewing. Trump set the stage for putting Havana on the U.S. blacklist when in May 2020 he placed it back on the list of countries that do not cooperate fully with U.S. efforts to counter terrorism.

"This is odd since Cuba is already on the state supporter of terrorism list, which is obviously a more severe designation than non-cooperating," said William LeoGrande, a professor of government at American University in Washington, referring to Blinken's note. He added the listing only restricted arms sales and had to be renewed by May 15.

Nevertheless, numerous experts said it was one more signal that Biden was not Obama when it comes to Cuba.

“Biden has been largely inactive and silent on Cuba policy, indicating a lack of shift away from Trump's posture," said Andrew Zimbalist, a Cuba expert at Smith College in Northampton, Massachusetts.

“To my knowledge, this is the first proactive policy step and, hence, appears to be a harbinger of a non-return to Obama's engagement,” he added.

(Reporting by Marc Frank in Havana; Additional reporting by Matt Spetalnick in Washington; Editing by Matthew Lewis)

Reuters, MAY 25, 2021 / 4:54 PM

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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.