Spain approves law banning praise of former dictator Francisco Franco
October 7, 2022, 9:07 am

Spain approves law banning praise of former dictator Francisco Franco

Madrid in Spain - Photo. Pixabay

Spain's senate has approved a landmark bill that will ban expressions of support for the former dictator Francisco Franco, the Euronews reported.

The new "Law on Democratic Memory" will also enshrine the memory of Franco's victims and also make the state responsible for searching for missing civil war casualties.

The bill was approved by 128 lawmakers in the Senate on Wednesday (Oct 5), with 113 votes against and 18 abstentions.

The legislation had already been passed by Spain's parliament in July after a lengthy debate.

It is the latest attempt by Spain's Socialist government to heal divisions in the country in the years after Franco's death in 1975.

Prime Minister Pedro Sanchez wrote on Twitter after the vote: "We have always been committed to strengthening our democracy and today we are taking another step towards justice, reparation and dignity for all victims."

Prime Minister Pedro Sanchez - Photo. Official Twitter account @sanchezcastejon

In 2019, Spain's government ordered for the former dictator's remains to be exhumed and removed from his monumental mausoleum near Madrid.

Around 114,000 people are still unaccounted for after the 1930s Civil War.

Civic movements have often taken on the responsibility of finding and exhuming victims from unmarked or mass graves, without government funding.

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But the "Law on Democratic Memory" forces Spain's state government to search for missing casualties for the first time. A DNA bank will also be created in Spain to help trace, identify, and map out victims of the Franco regime.

The law states that "history cannot be built on the basis of the oblivion and silence of those defeated [in the Civil War]".

Organisations that praise or support the policies and leaders of Spain's 20th-century dictatorship, including the private Francisco Franco Foundation, will now be banned under the legislation.

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Any convictions handed down on political, religious, or sexual grounds during the dictatorship will be annulled, and babies who were stolen from Spanish republican families by the Franco regime will also be recognised as "victims".

The bill will also appoint a special prosecutor's office to investigate crimes against humanity during the civil war and dictatorship.

Previous attempts to bring Franco-era officials to justice in Spain have been blocked by a 1977 amnesty law.

NGOs, including the Association for the Recovery of Historical Memory (ARHM), have called for Spain to repeal the 1977 law and further compensate victims of the dictatorship.

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But Spain's main right-wing opposition Partido Popular (PP) has repeatedly accused the government of trying to revive the wounds of the past and says they will repeal the new law if elected in 2023.

Spain's former Socialist government passed a law aimed at "historical memory" in 2007 but former PP Prime Minister Mariano Rajoy boasted that he had not used a single euro of public money to support the legislation.

Source: euronews

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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.