Netanyahu and after the Gaza truce
November 30, 2023, 4:45 pm

Saad Abdullah Al-Hamid

The text discusses the objectives of a ceasefire during wars, emphasizing control over the conflict's geographic area and enabling parties to engage in comprehensive political processes. It mentions current efforts for a ceasefire in Gaza through Qatari-Egyptian mediation, highlighting a hostage exchange agreement between Israel and Hamas involving 60 hostages, a four-day halt to fighting, and additional provisions such as releasing Palestinian women and children from Israeli prisons and increasing humanitarian aid to Gaza.

The text describes how the war has placed Netanyahu in a challenging position, with the Israeli forces aiming to uproot Hamas from Gaza. It references the attacks on October 7th, known as "Taufan Al-Aqsa," resulting in casualties on both sides, substantial infrastructure damage in Gaza, and the targeting of protected civilian facilities such as schools and hospitals, which raises concerns about violations of international humanitarian law.

The text suggests that as a result, there has been an unprecedented genocide against civilians, including children and the elderly. It describes the imposition of a blockade preventing the entry of medical, humanitarian, and relief aid, coupled with unprecedented displacement attempts both outside the Gaza Strip to neighboring countries like Egypt and Jordan, and internally from north to south within the region. This situation puts Netanyahu under significant Arab and international pressure to halt the war, given the high number of casualties, missing individuals, and injuries, predominantly among children, women, and the elderly.

The passage outlines the objectives of the war, including Netanyahu's desire to exclude and eliminate Hamas from Gaza, secure the release of Israeli captives held by Hamas, and address concerns about his political future, facing challenges within the Likud party due to a decline in popularity and internal conflicts. The text raises questions about Israel's ability to achieve its military goals in Gaza, the support it receives from Washington and the West during the war, and the potential continuation of Israel's intense military actions if the prisoner exchange with Hamas ceases.

The text suggests that Israel might respond to the demands for an extended ceasefire due to several considerations. These include concerns about giving Hamas an opportunity to regroup, as well as the diminishing patience of the international community with Israeli violations against civilians, casualties, and pressure regionally regarding displacement operations and evacuating the Gaza Strip. There is an implication that a prolonged ceasefire might contribute to settling the entire Palestinian issue, which is not desired by Arab and Islamic countries.

The text points out that the continuation of displacement operations in the southern part of the Gaza Strip could lead to a humanitarian crisis, especially with the approaching winter and challenging conditions. It emphasizes the pressure on Israel, taking into account the concerns of Israeli hostages' families, the satisfaction of settlers, and the potential expansion of the Lebanon-Israel border conflict with occasional exchanges of gunfire between Hezbollah and Israel. Additionally, the text mentions the threat posed by Houthi militias to Israeli ships in the Red Sea and the Gulf of Aden. The major dilemma for Netanyahu lies in the rising voices of his political competitors who criticize him for the outcomes of the war.

The text discusses the increasing strength of Netanyahu's political competitors, particularly Benny Gantz, who leads the national camp. Internal polls indicate that 50% support Gantz, 29% support Netanyahu, and 21% are undecided, indicating a potential shift in political dynamics. The intelligence failure in preventing the "Taufan Al-Aqsa" events and Netanyahu's relationship with the Minister of Defense, Yoav Galant, and Benny Gantz, the head of the national camp, are highlighted as crucial factors. Internal dynamics, the management of Gaza in the future, involvement of regional or international parties, and the challenges Netanyahu faces contribute to uncertainties about the political future of both the Gaza war and Netanyahu himself.

The text emphasizes the crucial factor of Washington's continued support for Israel, especially considering the challenges posed by domestic opposition in the United States and some European countries. The global economic impact of the Russian-Ukrainian war, concerns about oil and energy markets, and calls for independent investigations into potential war crimes during the recent Israeli government's aggression in Gaza are contributing to a complex geopolitical landscape. These considerations may cast shadows on the upcoming days, affecting Netanyahu and his right-wing government should they choose to persist in this challenging war.

Indeed, a two-state solution, returning to the path of peace and negotiations based on international legitimacy, and the Arab Peace Initiative could potentially secure the rights of Palestinians and the establishment of their state with East Jerusalem as its capital along the 1967 borders. This is a call echoed by the international community as a solution to end this seemingly endless conflict.

Dr. Saad Abdullah Al-Hamid

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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.