‘Death to the dictator’: Iran protests intensify after petrol price hike
November 16, 2019, 10:40 am

‘Death to the dictator’: Iran protests intensify after petrol price hike

Security forces fire water cannons at protesters in Iran's Bushehr, Nov. 16, 2019. (Screengrab)

Several protests erutped across Iranian cities on Saturday, with many protesters blocking main roads with their cars and burning tires while chanting “Death to the dictator,” a day after the government announced a surprise decision to ration and hike the price of petrol.

One civilian was killed and other people injured in Iran's Sirjan, the semi-official news agency ISNA said Saturday. Accodring to Al Arabiya sources, another protester was also killed, named Maitham Abdel Wahab Moneiat.

“Unfortunately someone was killed,” Sirjan's acting governor Mohammad Mahmoudabadi said in the report, adding that the cause of the death was still unclear.

Other people were injured during the demonstrations, he said.

Mahmoudabadi emphasized that "security forces did not have permission to shoot and were only allowed to fire warning shots... which they did."

He said it was a "calm gathering" that was exploited by some who "destroyed public property, damaged fuel stations and also wanted to access the oil company's main fuel depots and set fire to them."

In the city of Bushehr, security forces used water cannons and live ammunition to disperse protesters as they chanted "dishonorable" while running away.

A number of protesters in Tehran blocked a main highway (the Hemmat Expressway) by turning off their car engines while chanting “Death to the dictator,” in a sign of rising anger against Iran’s Supreme Leader Ali Khamenei. Other protesters blocked another main road in the Iranian city of Isfahan with their cars as well.

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Shiraz and Sultanabad, the capital of Iran's southern Fars province, also witnessed road closures, with some protesters burning tires. In Shiraz, Iranian protesters chanted “No Gaza. No Lebanon. I give my life for Iran,” in reference to the Iranian regime's support for Hamas and Hezbollah.

Videos circulated on social media showing Iranian protesters setting fire to the Central Bank of Iran in the city of Behbahan.

Despite the Iranian government’s blocking of the social media network Twitter, the hashtag #IranProtests is slowly making it to the top trends, with more than five tweets being sent out every one second. Other hashtags in Farsi and Arabic have emerged as well.

State news agency IRNA also reported the sporadic protests that erupted in cities across Iran on Saturday.

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The demonstrations were “severe” at Sirjan in central Iran as “people attacked a fuel storage warehouse in the city and tried to set fire to it,” the news agency reported.

But police intervened to prevent them.

IRNA said “scattered” protests also broke out in other cities including Mashhad, Birjand, Ahvaz, Gachsaran, Abadan, Khoramshahr, Mahshahr, Shiraz and Bandar Abbas.

They were mostly limited to blocking traffic and were over by midnight, it added.

Iran imposed petrol rationing and raised pump prices by at least 50 percent on Friday, saying the move was aimed at helping citizens in need with cash handouts.

The measure was expected to bring in 300 trillion rials ($2.55 billion) per annum, the head of the country’s Planning and Budget Organisation, Mohammad Bagher Nobakht, said on state television.

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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.