The Smell of War is All Over Libya
June 29, 2021, 10:21 am

Dalia Ziada

The election of the Libyan interim Government of National Unity (GNU), in January, under the supervision of the United Nations Support Mission in Libya (UNSMIL), and the approval of all disputing political factions in the country, brought hope that the political solution for Libya might really work. War

This was the first time, the Libyans came to an agreement, after six years of a brutal civil war (2014-2020) that claimed the lives of thousands, including innocent civilians, and created a tribal chaos that empowered terrorism and foreign interventions. Fast forward to our present day, the euphoria has diminished and Libya is on the brink of a new civil war that will undermine the entire political solution process.

The GNU is an interim government, that came to power with two difficult missions on its to-do list. The first mission is to unite Libya; eastern and western. The second mission is to hold general elections, on the 24th of December, that would set the foundation for a stable system of governance. The GNU, aided by UNSMIL and the international community, are exerting tremendous efforts to achieve the second mission of holding the elections on time, but very little is exerted on the first and most important mission to unite the Libyans. War

GNU leaders are spending the majority of their time traveling and signing agreements with regional and European key players. That is important, despite the fact that GNU is an interim government and thus all the international agreements and protocols of cooperation that it signs are also temporary. Meanwhile, GNU is exerting a very little effort, on the domestic level, to establish a working mechanism of coexistence amongst disputed Libyan political groups. That is much more important than their international tours. War

Last week, on the 20th of June, the Libyan National Army (LNA), commanded by General Khalifa Haftar, in Benghazi, blocked the border crossing between Libya and Algeria and declared it a military zone. GNU responded immediately by an official statement prohibiting the movement of military troops, whatever their affiliation is, without direct instructions from the central military command in Tripoli. The Tripoli-based army is commanded by GNU and receives training and ammunition from Turkey; while the Benghazi-based LNA receives support from Russia and France. War

LNA’s unilateral move happened on the same hour the GNU Prime Minister announced the re-opening of the coastal road, as a sign on Libya’s unity. LNA has always opposed the opening of the coastal road because it means submitting to the GNU military and kicking the Russian mercenaries, who support LNA, out of the country. Unfortunately, the next day the GNU had to close the coastal road, once again to avoid clashing with LNA. War

Two days later, on June 23rd, at the conclusion of the Berlin II Summit on Libya, GNU’s Foreign Minister mentioned that the foreign troops and mercenaries, either affiliated to Russia or Turkey, will start to gradually depart from Libya, in the following days. Yet, one week has passed since then, and no one left. On the contrary, the security situation is getting worse. Earlier this week, on June 26th, clashes erupted between two tribes in Benghazi, leaving at least five people killed. The militia elements and the weapons used in these clashes brought to mind the notorious battle of Benghazi, that erupted in 2014, and continued during the first three years of the second Libyan civil war. War

In that sense, the GNU needs to re-evaluate its achievements in contrast to its assigned priority missions. Unifying western and eastern Libya must be accomplished before continuing with the preparation for the general elections, in December. In particular, the lack of unity among the Libyan military troops in eastern and western Libya poses a huge threat to the entire political process. The continuity of the military division justifies the continued presence of foreign military troops and mercenaries, and complicates the process of disassembling local militia. Ironically, the international community keeps calling for removing foreign troops and mercenaries from Libya, rather than focusing on ending the division of the Libyan military forces, which is the only reason why foreign troops can continue to exist on the Libyan soil.

That is not pessimism; that is logic. Elections need a secure environment to produce enduring results that can truly save Libya. The only way to create this secure environment is by unifying the eastern and western militaries, before it is too late. levant

levant

BY: Dalia Ziada

Biden assures Israel he won't tolerate nuclear Iran Adults in Mexico will be able to cultivate their own cannabis

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.