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Suleimani killing gives Europeans pause for thought

Boris Johnson, Britain’s newly re-elected prime minister, continued his New Year holiday on the private Caribbean island of Mustique with his girlfriend, uncharacteristically saying nothing for two days until arriving home and declaring that "we will not lament his death."
The European Union’s foreign affairs chief Josep Borrell called on all involved "to exercise maximum restraint and show responsibility at this crucial moment." Germany sent a similar message, prompting criticism by the US Secretary of State Mike Pompeo who said: "Frankly, the Europeans haven't been as helpful as I wish that they could be."
The UK foreign secretary, Dominic Raab, echoed the EU line – and confirmed that he would be going to see Pompeo on a previously-arranged visit to Washington. Raab claimed the US had the right to self-defence in the face of the “menace” represented by Suleimani. But when he said that “we understand the action they took” it fell far short of a ringing endorsement. Britain, which has 400 troops in Iraq training local security forces, was not consulted about the drone attack.
The US and Europe, are, however, divided by far more than the Baghdad assassination. On paper, all EU member states remain committed to the 2015 nuclear agreement (JCPoA) with Iran, were alarmed by President Donald Trump’s decision to abandon it in 2018 and opposed his policy of “maximum pressure” on Tehran. Whatever they said publicly to avoid upsetting the Americans, the pre-meditated killing of Suleimani was certainly seen privately as a risky and reckless act without any accompanying strategy.
Iran and allies like Hizbullah issued various threats in the wake of the assassination, but the first substantive announcement from Tehran was that it would no longer be bound by the restrictions on uranium enrichment in the JCPoA. The chances are that they might well have taken that step anyway – in protest against the continuing European failure to find ways to build a bartering system to circumvent unilaterally re-imposed US sanctions.
But the decision is likely to lead, sooner or later, to the total collapse of the agreement. In the words of one diplomat, it is already “a candle that is burning from both ends.” Sanctions relief, desperately sought by an Iranian government that has seen serious protests in recent months, seems further away than ever.
The Europeans’ problem with Trump is his combination of inconsistency and volatility. His failure to respond to repeated Iranian provocations in the Gulf reflected reluctance to expose US armed forces to danger. The biggest of these was the lack of retaliation for the September drone and missile attack on the Abqaiq oil installation in Saudi Arabia – despite boasting from the Oval Office that US forces were “locked and loaded.”
More recently, Europeans were angered by the president’s decision to withdraw US forces from northern Syria and approve an offensive by Turkey against the Kurdish fighters who had spearheaded the defeat of Isis (Daesh) . That was seen as empowering Turkey, Iran and Russia – and by extension President Bashar al-Assad. It is Europe, far more than America, that will likely pay the price of a resurgent Isis emboldened by the American pullout.
Now something similar may be under way in Iraq following the decision of the Baghdad parliament to formally end the presence of foreign forces and the suspension of operations by the anti-Isis coalition. That raises the possibility that having targeted the shadowy mastermind of Iran’s growing regional hegemony, Trump could now end the US military presence in Iraq completely – 17 years after the overthrow of Saddam Hussein.
The danger of Iranian retaliation for the Suleimani killing has already generated nervousness. Within hours the UK defence secretary Ben Wallace announced that two Royal Navy vessels will again accompany UK-flagged ships through the Straits of Hormuz, as they did between July and November last year following the seizure of a British-flagged tanker by Iran. In the UK Suleimani’s death is also a blow to hopes for the early release of Nazanin Zaghari-Radcliffe, the British-Iranian dual national who was falsely imprisoned in Tehran on charges of espionage.
Britain is still divided and distracted by the looming reality of Brexit – now formally taking place at the end of January. But Johnson is likely to try to work together with the French and Germans – the grouping known as the E3 – in order to soften the diplomatic impact of leaving the EU and, more importantly, to open up a wider channel of communication with Washington at a time when matters in the Middle East look likely to become even more complicated.
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BENEFIT AGM approves 10%...
- March 27, 2025
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.
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