Netanyahu Rejects Ceasefire Proposal Amid Rising Right-Wing Voices
September 26, 2024, 1:17 pm

Netanyahu Rejects Ceasefire Proposal Amid Rising Right-Wing Voices

نيتنياهو

Israeli Prime Minister Benjamin Netanyahu stated on Thursday that he has not yet responded to the ceasefire proposal with the Lebanese group Hezbollah. This comes at a time when his government coalition is experiencing a rise in right-wing voices opposing this proposal.

In a statement, Netanyahu indicated that he has instructed the military to continue fighting with full force, asserting that "reports regarding a ceasefire are not true." He added, "The news about an alleged directive to de-escalate fighting in the north is also a distortion of facts. The fighting in Gaza will continue until all war objectives are achieved."

In the same context, Israeli Foreign Minister Israel Katz confirmed that "there will be no ceasefire in the north, and we will continue to fight against Hezbollah."

Meanwhile, far-right Finance Minister Betzalel Smotrich described the war in the north as one that will not end until Hezbollah and its capabilities to threaten northern residents are destroyed. He stated, "The enemy must not be given time to recover from the strikes it has received or prepare to resume war after 21 days. The choice is either Hezbollah's surrender or war, and only in this way can we restore security for the residents of the north and the state."

In a related vein, Minister of Settlements and National Missions, Orit Strock, emphasized that "there is no moral mandate for a ceasefire, whether for 21 days or even 21 hours." She argued that "Hezbollah has turned Lebanon into a powder keg, and Resolution 1701 has made the residents of the north hostages in their land. Past mistakes should not be repeated, and we will not stop until the situation is rectified."

Additionally, the party "Otzma Yehudit," led by National Security Minister Itamar Ben Gvir, announced that following reports concerning negotiations for a ceasefire agreement between Israel and Hezbollah, their party will hold an emergency meeting in the coming hours.

Culture and Sports Minister from the Likud party, Miki Zohar, considered that "a ceasefire without any meaningful concessions from Hezbollah would be a grave mistake that endangers the major military achievements Israel has made." He expressed hope that the reports regarding this matter are untrue and insisted on the necessity of continuing vigorously until a clear resolution is achieved in the north.

On the other hand, Israeli opposition leader Yair Lapid revealed his support for the idea of a ceasefire but stated that it should not exceed seven days. He emphasized that Hezbollah should not be allowed to restore its command and control systems.

The United States, the European Union, and several Western and Arab countries issued a joint statement on Wednesday calling for a temporary ceasefire between Israel and Hezbollah, in an attempt to avoid the escalation of the conflict into a comprehensive war.

The statement read, "Diplomacy cannot succeed in the context of an escalating conflict, so we call for an immediate ceasefire for 21 days across the Lebanese-Israeli border, to allow space for diplomatic efforts to reach a settlement." The statement also urged "all parties, including the governments of Israel and Lebanon, to immediately support the temporary ceasefire, in accordance with UN Security Council Resolution 1701 and the implementation of UN Security Council Resolution 2735 regarding the ceasefire in Gaza."

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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.