Moscow court rejects Putin critic Navalny's appeal against prison sentence
February 20, 2021, 12:01 pm

Moscow court rejects Putin critic Navalny's appeal against prison sentence

Russian opposition leader Alexei Navalny accused of flouting the terms of a suspended sentence for embezzlement attends a court hearing in Moscow, Russia February 2, 2021. (Press service of Moscow City Court/Handout via Reuters)

A Moscow court on Saturday rejected Russian opposition leader Alexei Navalny’s appeal against his prison sentence, even as the country faced a top European rights court’s order to free the Kremlin’s most prominent foe.

Navalny was sentenced earlier this month by a lower court to two years and eight months in prison for violating terms of his probation while recuperating in Germany from a nerve agent poisoning that he blames on the Kremlin. Russian authorities have rejected the accusation.

Navalny, 44, an anti-corruption crusader and President Vladimir Putin’s most vocal critic, appealed the prison sentence and asked to be released. The Moscow City Court’s judge on Saturday only slightly reduced his sentence to just over 2 1/2 years in prison, ruling that a month-and-half Navalny spent under house arrest in early 2015 will be deducted from his sentence.

Navalny’s arrest and imprisonment have fueled a huge wave of protests across Russia. Authorities responded with a sweeping crackdown, detaining about 11,000 people, many of whom were fined or given jail terms ranging from seven to 15 days.

Russia has rejected Western criticism of Navalny’s arrest and the crackdown on demonstrations as meddling in its internal affairs.

People turn on the flashlights of their mobile phones during Valentine Day's flashmobs in support of jailed opposition politician Alexei Navalny in Saint Petersburg on February 14, 2021. (AFP)

In a ruling Tuesday, the European Court of Human Rights ordered the Russian government to release Navalny, citing “the nature and extent of risk to the applicant’s life.” The Strasbourg-based court noted that Navalny has contested Russian authorities’ argument that they had taken sufficient measures to safeguard his life and well-being in custody following the nerve agent attack.

The Russian government has rebuffed the Strasbourg-based court’s demand, describing the ruling as unlawful and “inadmissible” meddling in Russia’s affairs.

In the past, Moscow has abided by the ECHR’s rulings awarding compensations to Russian citizens who have contested verdicts in Russian courts, but it never faced a demand by the European court to set a convict free.

In a sign of its long-held annoyance with the Strasbourg court’s verdicts, Russia last year adopted a constitutional amendment declaring the priority of national legislation over international law. Russian authorities might now use that provision to reject the ECHR’s ruling.

Later on Saturday, Navalny will also face proceedings in a separate case on charges of defaming a World War II veteran. Navalny, who called the 94-year-old veteran and other people featured in a pro-Kremlin video “corrupt stooges,” “people without conscience” and “traitors,” has rejected the slander charges and described them as part of official efforts to disparage him.

source: The Associated Press

Image source: Reuters

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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.