James Denseiow

The US President may be the most powerful individual on the planet, but they are not a king and what they can and can’t do is surrounded by the checks and balances of constitutional government. However, certain powers seem particularly unconstrained when used wildly and with a logic divorced from any argument as to the national good.

Predictions of President Trump’s pre-departure flurry of pardons have come true and now there is even talk of him pre-emptively pardoning himself and members of his own family. This dramatic covering of his own interests should trigger a reflection on the Presidential pardoning powers by the incoming Biden Administration.

All previous administrations have used the pardon power. Legal experts explain it is unlimited in scope and not subject to review for lawfulness by the courts. Many other countries in the world have similar powers granted to their head of state or royal leader and pardons often are granted on national days or ones of religious importance.

US history is littered with controversial examples of the use of this power. President Carter pardoned all those Americans who dodged the draft to fight in Vietnam, perhaps most controversially to date was President Ford pardoning President Nixon for any illegal acts committed during his presidency.

The logic of Presidents using the power more towards the end of their term is to avoid having to spend political capital on more contentious choices. Earlier this month President Trump pardoned his former campaign manager Paul Manafort, ex-adviser Roger Stone and the father of Mr Trump's son-in-law. Observers point to how Manafort in particular, withheld full cooperation with the Muller inquiry into Russian involvement in the US 2016 election perhaps because Trump had frequently dangled the potential of the pardon that would eventually come. By contrast Trump’s former lawyer, Michael Cohen, who fully cooperated with the investigation did not receive a pardon.

Amongst the 29 pardons made over two moments towards the end of the year, Trump would spark global condemnation and controversy for pardoning four Blackwater military contractors who were involved in a 2007 massacre in Iraq. This particular pardon could almost be argued as a distraction taking the focus away from the more nefarious clearing of his own inner circle and those who’ve not disclosed information that could potentially be damaging to the President.

Where things could become the most toxic would be around the granting of pre-emptive pardons to the Trump family. The first point to make is that to have these pardons would be to admit guilt of a crime when currently whilst there may be investigations there are no charges. Whilst Trump’s pardon power covers federal charges, state level ones could remain a threat. Constitutional scholars argue that a President cannot pardon themselves, although that convention has never been tested.

Trump advocates could legitimately argue that at this stage none of these family pardons have actually happened and that this President has made less use of the pardon power than his predecessors so far. Trump, for example, has granted less than 100 pardons compared to a two term Obama President’s 212.

However, where critics are most concerned is around the absence of process surrounding how Trump is making decisions around this power. Rather than acting on advice from the Department of Justice (DOJ) he appears to be using the power in a more whimsical fashion with a particular focus on rewarding his own loyal allies that have fallen foul of the law.

CNN have reported that since Trump lost the election calls and emails have been flooding into the West Wing from people looking to benefit from the President's powers of clemency. The Washington Post accused him of using the power as a political weapon. Analysts crunching the numbers around his use of the pardon so far reveal that 88% of those pardoned had a personal or political connection to him.

Whilst there is little that can be done to curtail the broad powers of pardoning that Trump is currently exercising, President Biden can choose to limit his own powers and commit to a process that wouldn’t allow a similar scenario to replay in the future. If ever there was a moment to reform the system it is now.

by :James Denselow

Power struggle at the head of the ruling regime in Iran Rising tensions between Iran and the United States in Iraq

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.