Former US secretary says US should keep pressure on Iran with sanctions
April 29, 2021, 9:04 am

Former US secretary says US should keep pressure on Iran with sanctions

Former US Secretary of State Mike Pompeo. (Screengrab)

Former US Secretary Mike Pompeo said releasing sanctions on Iran will not get the regime to “cease their malign activity” as the Biden administration considers a near wholesale rollback of some of the most stringent Trump-era sanctions imposed on the Middle Eastern country.

“What I can't understand is how any administration could believe that if you release the sanctions and you lift the pressure campaign from the Iranians, why you would expect that they would behave in a way that's consistent with international norms,” Pompeo told Al Arabiya.

“If you're not prepared to put pressure on the Iranians to cease their malign activity, their support for the Houthi rebels, their political support, their diplomatic support, their military support in terms of providing them weapon systems and capabilities resource supports, all the things that the Iranians have done over the past years if you don't deny the Iranians are able to do that, I don't know how this ends,” he added

The Biden administration has considered lifting sanctions in an effort to try and get Iran to comply with the 2015 nuclear deal, according to current and former US officials and others familiar with the matter.

American officials have refused to discuss which sanctions are being considered for removal. But they have stressed that they are open to lifting non-nuclear sanctions, such as those tied to terrorism, missile development and human rights, in addition to those related to the nuclear program.

Pompeo also said rolling back the designation of Yemen’s Iran-backed Houthis as terrorists is an “enormous mistake” adding that this will put not only ally countries in danger but Americans in the region as well.

“No one disputes that the Houthis are terrorists,” he told Al Arabiya. “The administration didn't say we’re lifting these sanctions today because they are no longer terrorists. They lifted them because they wanted to appease the Ayatollah, and they want to appease the mullahs in Iran. That's dangerous.”

According to Pompeo, the Iranians will take this as a sign of weakness which will then present “a real risk to our Arab partners, to our Israeli partners and friends, and to Americans traveling throughout the world.”

Houthis have continuously attacked Saudi Arabia by firing ballistic missiles and using explosive-laden drones to target civilians in the Kingdom.

Most attacks have been thwarted, however, according to the Arab Coalition.

“I don't know how you convince the Houthis not to take that weaponry and fire missiles into southern Saudi Arabia to put frankly Americans who are traveling in Saudi Arabia at risk. I don't understand. I have no idea how the Biden administration thinks they're going to end that war without completely appeasing the Iranians, with respect to Yemen,” Pompeo added.

source: Joanne Serrieh

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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.