Threat from Iran to US forces in Iraq remain ‘significant’: Senior US official
April 10, 2020, 7:48 am

Threat from Iran to US forces in Iraq remain ‘significant’: Senior US official

Kataib Hezbollah Iraqi militia gather ahead of the funeral of the Iraqi militia commander Abu Mahdi al-Mohandes, who was killed in an air strike in Baghdad, January 4, 2020. (Reuters)

The threat from Iranian-backed militia to US forces continues to be “significant,” the US State Department’s senior diplomat for the Middle East said on Thursday, adding that Washington was taking “with a pinch of salt” a ceasefire declaration by Iran-backed Kataib Hezbollah.

Speaking to reporters in a teleconference, David Schenker, Assistant Secretary of Near Eastern Affairs at the US State Department also praised the previous work of Mustafa al-Kadhemi, Iraq’s intelligence chief who was named as prime-minister designate on Thursday.

Iranian-backed militias pose a continuing and “significant” threat to US forces in Iraq, the State Department’s top diplomat for the Middle East said on Thursday, about a week after US President Donald Trump warned of an attack by Iran or its proxies.

Iran-backed paramilitary groups have regularly been shelling bases in Iraq that host US forces, as well as the area around the US embassy in Baghdad.

David Schenker, Assistant Secretary of Near Eastern Affairs at the US State Department, speaks to Al Arabiya during a previous interview.

On Monday, three Katyusha rockets landed near a district in southern Iraq that houses workers for foreign oil companies, including US oil service company Halliburton. No casualties or damage were reported.

Last week, Trump said Iran or its proxies planned a sneak attack on US targets in Iraq and warned they would pay a “very heavy price” but gave no details.

US-Iranian relations have been bitter since the Islamic Revolution toppled the US-backed Shah of Iran in 1979 and ushered in an era of theocratic rule.

While there was a detente with the 2015 Iran nuclear deal, relations have deteriorated with Trump’s decision nearly two years ago to abandon that multilateral agreement and reimpose US sanctions that have crippled the Iranian economy.

A member of Hashd al-Shaabi holds a flag of Kataib Hezbollah militia group during a protest to condemn air strikes on their bases, in Baghdad. (File photo: Reuters)

A member of Hashd al-Shaabi holds a flag of the Kataib Hezbollah militia group during a protest to condemn airstrikes on their bases, in Baghdad. (File photo: Reuters)

Worsening tensions, a Jan. 3 US drone strike in Iraq killed Qassem Soleimani, the head of Iran’s elite Quds Force, as well as Abu Mahdi al-Mohandes, who founded Iraq’s Shia Kataib Hezbollah militia after the 2003 US-led invasion of Iraq.

Earlier this week, US Secretary of State Mike Pompeo said the United States proposed a ‘Strategic Dialogue’ with Iraq to be held in June, a bid to restore strained bilateral ties.

Schenker, who in March said Washington was “enormously disappointed” by Iraq’s performance in protecting US-led coalition forces in the country, reiterated that Baghdad needed to take steps if it valued Washington’s partnership.

“It is on the Iraqis - if they value that relationship - to take certain steps and that includes protecting the coalition forces who are in Iraq if they want those forces to remain,” he said.

source: Reuters

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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.