The UAE: A Beacon of Tolerance and Diplomacy in the Fight Against Extremism
August 13, 2024, 10:37 am

The UAE: A Beacon of Tolerance and Diplomacy in the Fight Against Extremism

Michael Arizanti

In an era where global threats loom large, the United Arab Emirates (UAE) stands out as a nation committed to fostering unity and supporting international communities. Since its establishment, the UAE has made humanitarian diplomacy a cornerstone of its foreign policy, a legacy initiated by its founding father, Sheikh Zayed bin Sultan Al Nahyan. This commitment to aiding others, regardless of their background or political affiliations, is deeply embedded in the Emirati identity.

The UAE's Office of Public and Cultural Diplomacy, initially established under the Ministry of the Cabinet and the Future in 2014 and later transferred to the Ministry of Foreign Affairs, underscores the nation's reputation for modernity and tolerance. This office plays a crucial role in coordinating the UAE's extensive humanitarian efforts.

With its expanding diplomatic ties and logistical capabilities, the UAE is well-positioned to deliver humanitarian aid efficiently to its intended destinations. The nation's vision of leading in "humanitarian diplomacy" is not just a lofty goal but a tangible commitment that has been demonstrated time and again.

The UAE's humanitarian efforts extend across the globe. In the Philippines, following Typhoon Carina, the UAE provided significant relief to help the nation recover from the devastation. In Gaza, the UAE has consistently provided vital medical supplies, water, food, and electricity. The UAE also pledged USD 100 million for the Sudanese relief program, with 70% of the funds already distributed through the United Nations.

In 2019, the UAE declared it the "Year of Tolerance," a testament to its dedication to sheltering, feeding, and treating populations affected by war, natural disasters, famine, and medical crises. Since its inception, the UAE has distributed approximately USD 25.11 billion in humanitarian aid, with a noticeable increase in aid destinations in 2022, reaching a total of USD 3.45 billion.

The UAE's commitment to humanitarian aid is not limited to immediate relief efforts. The nation is also investing heavily in sustainability and medical fields, laying the groundwork for future leaders and sustainable food production. These initiatives are crucial in addressing global challenges and finding solutions to medical crises.

The UAE's role in the fight against extremism and terrorism is equally significant. The nation has been at the forefront of diplomatic efforts to counter radical ideologies and promote a moderate version of Islam. Through initiatives like the Sawab Center, the UAE has been actively countering the propaganda of extremist groups online. The UAE's role in the Middle East is also crucial in promoting stability and countering the influence of extremist groups.

In a world where extremism and intolerance threaten global peace and security, the UAE stands as a role model. Its commitment to tolerance, diplomacy, and humanitarian aid sets an example for nations worldwide. As the UAE continues to lead in humanitarian diplomacy, it paves the way for a more peaceful and united world.

BY: Michael Arizanti

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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.