Naim Qassem Links Ceasefire to Israel's Approval of US Proposal
Hezbollah's Reference to Military and Negotiation Paths Shows Attempt to Pressure Israel to Accept its Terms While Maintaining Escalation Option
November 20, 2024, 11:11 pm

Naim Qassem Links Ceasefire to Israel's Approval of US Proposal

نعيم قاسم

Hezbollah Secretary-General Naim Qassem threatened Wednesday to target "central Tel Aviv" in response to recent Israeli strikes on Beirut, particularly Sunday's attack that killed the party's media official.

In a recorded speech, Qassem declared "We cannot leave the capital under Israeli enemy strikes without them paying the price. The price is central Tel Aviv. I hope the enemy understands things aren't left unchecked."

The party's Secretary-General revealed studying the American ceasefire initiative to end confrontations with Israel and providing feedback, explaining that the decision to stop military operations now lies with Tel Aviv.

He reported that the organization allows de-escalation talks to continue and monitors potential outcomes, emphasizing that "the party decided to pursue two parallel paths: field and negotiation... if negotiations fail, we'll continue fighting." Qassem explained that "the resistance regained strength after losses incurred, and faces the enemy wherever it advances."

He added: "The resistance repels the army wherever it moves, and it's not essential if the Israeli army is said to have invaded or withdrawn from a village; what matters is its casualty count."

He confirmed "the resistance's ability to continue fighting at this level for an extended period," adding: "We prepared for a long battle, and we're currently negotiating not under pressure as rumored, because Israel is also under pressure."

He stressed that "war of attrition exhausts Israel, not us... we won't suspend field confrontations while talks continue," adding: "Ceasefire is linked to Israel's response to the proposed agreement... we negotiate within two constants: ending conflict and preserving Lebanese sovereignty."

Qassem indicated the party's approval of current negotiations... "our observations on the American proposal confirm our desire to stop confrontations," affirming "harmony between Hezbollah and Lebanese state observations on the proposed solution initiative."

His statements came in a recorded speech broadcast before US envoy Amos Hochstein announced his intention to head to Israel from Beirut seeking a ceasefire agreement.

Levant-Agencies

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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.