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Lebanese PM: Joint phone with Saudi and French leaders an important step to restore relations with Riyadh

The Arab News reported, Lebanese Prime Minister Najib Mikati has affirmed his government’s commitment to honoring its undertakings for reform.
Mikati said that his joint phone call on Saturday with Saudi and French leaders was “an important step toward restoring historic brotherly relations with Riyadh.”
A joint Saudi-French statement, following the joint phone call between Saudi Crown Prince Mohammed bin Salman and French President Macron with Mikati, linked “economic aid to Lebanon with the implementation of the required reforms.”
The statement reiterated demands that Lebanon should “implement comprehensive reforms, monitor borders, abide by the Taif Agreement, limit arms to the legitimate state institutions and not be a launching pad for any terrorist acts that destabilize the region (nor) a source of drug trafficking.”

Mikati also said: “I thank President Macron and Crown Prince Mohammed bin Salman for their keenness in maintaining the friendship toward Lebanon.”
Mikati called both President Michel Aoun and Parliament Speaker Nabih Berri and briefed them on the phone call.
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Mikati’s media office said that Aoun and Berri “expressed their satisfaction and stressed their adherence to the best relations with Saudi Arabia and all brotherly Arab countries, especially the Gulf Cooperation Council countries.”
Mikati called “all parties in Lebanon to appreciate the sensitivity of the situation and circumstances and not to take any action or interfere in any matter that offends the Arab brothers and harms the Lebanese.”
He added: “It is time to commit again to the policy of disassociation and not to involve ourselves and our country in what has nothing to do with us.”
The Saudi position toward Lebanon left the Lebanese anxiously relieved about the extent of the seriousness of the ruling authority in implementing what was agreed on in Jeddah between French President Emmanuel Macron and Saudi Crown Prince Mohammed bin Salman.
Although Macron succeeded in opening the door to a solution to Lebanon’s diplomatic and economic crisis with Saudi Arabia, and thus the Gulf Cooperation Council countries, after the resignation of Information Minister George Kordahi from the government following his statements about the Kingdom, there is a fear that Hezbollah will continue to embroil Lebanon in regional politics.
However, MP Ali Darwish, who is from Prime Minister Mikati’s parliamentary bloc, expects “positive signs to emerge in the coming days.”
Read more: French President arrives in Saudi Arabia as part of Gulf tour
Darwish said that appointing a parliamentary committee to try presidents, ministers and MPs in return for allowing Cabinet sessions to take place was “one of the proposals.”
Darwish told Arab News that “the Saudi-French move has undoubtedly breached the wall of stalemate in Lebanon’s relationship with the Gulf, which Lebanon is keen to be extremely good in the midst of the conflict in the region.”
On the implementation of the French-Saudi statement, Darwish said: “The reforms are contained in the ministerial statement of Prime Minister Mikati’s government, and they are his government’s agenda, and he is striving to achieve them.”
Darwish added: “The most important thing now is to restore the connection that was cut off, to return the ambassadors to Saudi Arabia and some Gulf countries, and to return the Arab ambassadors to Lebanon.”
Darwish said that the Mikati government would “never interfere in the judicial matter, as there is a separation of powers.”
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However, he indicated that activating the Parliamentary Council for the Trial of Presidents and Ministers was possible but it required steps to be taken by parliament.
Darwish added: “However, the trade-off between this matter and any other matter, especially the dismissal of the governor of the Banque du Liban, is not on the table.”
Darwish said that Mikati’s concern “is securing the livelihood of the Lebanese people in light of the current severe economic crisis.”
He said work was “now focused on rounding the corners and bringing the views closer.”
Source: arabnews
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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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