James Denselow

Next week marks the twentieth anniversary of the 9/11 attacks that set off a chain of events that would change and shape the modern world. The direct actions of 19 individuals have perhaps never been so impactful on the lives of so many millions. The anniversary itself will be a huge moment of reflection across three concentric circles of those affected by the events; the first circle is the most intimate those who lost friends and families on the day. The second circle is what the attacks did for the wider American public’s psyche and its body politic. The final and widest circle is those affected by the subsequent American foreign policy decisions of the past twenty years.

Unsurprisingly the first circle is where there is most focus. All the stories of those who lost their lives or loved ones have an essential humanity that it is impossible to escape. Now a generation on we see the images of small children with the parents they never got to know who are grown up and can reflect on the lives that could have been lived. So many of the stories are around small life moments and decisions that could have changed everything. A train that was missed, a decision to call in sick or to run errands that saved a life. United 93, for example, the flight where the passengers fought back causing it to crash into a field, was initially delayed allowing those on board to hear what had happened to the Twin Towers and take action.

Documentary makers have had the time and license to interview and get full honest reflections from the key players in the UK Government. Former President Bush explained to the BBC how when being told by aides that America was under attack, he decided to continue reading stories to children not to panic them whilst gathering his thoughts. His movements on that day are a reminder of the chaos and fear that gripped the country that day. The President was on a defenceless Air Force One worried that he was going to be targeted whilst Americans fled their offices in Washington terrified that any aircraft above may be about to crash into them.

In terms of the second circle – everyone knows where they were on 9/11. Listening to oral histories they often start with the weather. People remember the surprisingly hot September morning, the clear blue sky that would contrast so devastatingly with the all-enveloping dust that would cover the New York a few hours later. Bush administration officials would reflect that he was a relatively new President who was focused on a domestic agenda. 9/11 would take him in an entirely different direction and it is in American foreign policy that the largest numbers of people were affected by that single day.

Without 9/11 it is inconceivable that the US would have invaded Iraq and Afghanistan. Would the Taliban have remained in power in Kabul and Saddam Hussein in Iraq? It is hard to see an alternative at least in the short term. Instead, the ‘War on Terror’ was launched and has metastasised over time with vast cost and consequence. Brown University’s Costs of War project reveals the cost since September 11, 2001 exceeds $8 trillion and that wars have directly killed an estimated 897,000 to 929,000 people.

Former President Bush defended his decisions arguing that there hasn’t been a major attack on the US homeland since 9/11. Yet the original ‘Bush Doctrine’ was set out against States that support or harbour terrorist groups. Today the Taliban is back in power in Kabul and the central Middle East is still recovering from the territorial ambitions of ISIS, arguably the most resourced and dangerous terrorist entity of the modern age. America no longer has the ambitions to ensure that ungoverned parts of the world can’t be used by terrorist entities. Yet it has subsequently developed the means of remote warfare to conduct surveillance with lethal options in the forms of drones that give it a standoff presence in all corners of the planet.

The moment of 9/11’s twentieth anniversary will understandably focus on the most immediate circle of those have been affected, yet it is non-Americans who represent the single largest cohort of those whose lives were changed by what followed the attack and their voices are marginalised at these moments of remembrance.

by: James Denselow

James Denselow,

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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.