The 4th cycle of the ICCROM-Sharjah Award for Good Practices in Cultural Heritage Conservation in the Arab Region 2024 launches
October 5, 2023, 2:26 pm

The 4th cycle of the ICCROM-Sharjah Award for Good Practices in Cultural Heritage Conservation in the Arab Region 2024 launches

إيكروم الشارقة يطلق الدورة الرابعة

ICCROM-Sharjah calls individuals and institutions in the Arab region to participate and compete for the award

02 October 2023 - Sharjah (United Arab Emirates): ICCROM’s Regional Office for the Conservation of Cultural Heritage in Sharjah (ICCROM-Sharjah) announces the launch of the fourth cycle of the ICCROM-Sharjah Award for good practices in cultural heritage conservation and management in the Arab Region 2023-2024. The award, held under the patronage of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Member of the Supreme Council, Ruler of Sharjah, aims to honour and reward outstanding work that contributes to the protection and vitality of tangible cultural heritage in the Arab world.

In this cycle, a Grand Award will be presented for Good Practices in Cultural Heritage Conservation and Management in the Arab Region. Additionally, two Honorary Awards for Community Engagement and Conservation and Innovation will be granted to recognize exceptional exemplary projects. The Award will highlight the good practices in conservation and management of cultural heritage in terms of technical skills employed as well as social and economic impacts of the project on local communities. The vitality of the cultural heritage project will be assessed through its positive impact on the social and economic context.

The award program reflects the commitment of ICCROM-Sharjah to help protect movable and immovable cultural heritage in the Arab region; promote good practices in the field of preservation and protection of cultural heritage; facilitate the international exchange of knowledge and experiences in cultural heritage conservation and management; and stimulate public awareness of the importance of cultural heritage.

The award recognizes projects that demonstrate excellence in preserving and revitalizing cultural heritage, while also promoting sustainable development, community involvement, and knowledge exchange. It encourages individuals, organizations, and institutions to showcase their best practices in the field of heritage conservation. By highlighting successful projects, the award aims to inspire others and create a network of professionals dedicated to preserving cultural heritage in the Arab region.

“This is the 4th edition of the ICCROM-Sharjah Award, after the great success it has achieved over the past years in highlighting many distinguished projects and practices in preserving cultural heritage in the Arab region”, says Dr. Zaki Aslan, Director of the Regional Office for Cultural Heritage Preservation (ICCROM - Sharjah).

“The projects that receive the ICCROM-Sharjah Award exhibit several key features that set them apart as exemplars of cultural heritage conservation. They demonstrate a holistic approach to conservation, considering both the tangible and intangible aspects of cultural heritage; they also prioritize community involvement, engaging local stakeholders in decision-making processes and ensuring the long-term sustainability of the projects; and additionally, award-winning projects often employ innovative technologies and methodologies, blending traditional craftsmanship with modern conservation practices. They also focus on capacity building, empowering local communities with the knowledge and skills necessary for heritage conservation”, he added.

It is worth noting that individuals and institutions can submit their entries and apply for the award by filling out and sending the official entry form along with the required documents via email until March 31, 2024. Every entry received will be considered valid and legal only if received by the deadline, eligible and complying with the criteria, submitted using the official entry form and accompanied by the requested documentation in the official format.

The nominated projects eligible for the award, which will be selected by an independent jury of experts in the Arab region and the world, will be announced in September 2024, while the winning projects will be announced during a ceremony to be held in Sharjah, UAE, in November 2024. The forms and documents required to participate can be found through the link: https://ar.iccromsharjahawards.org/how-to-apply/

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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.