Trump in UN address appeals to international community to respond to Iran
September 25, 2019, 3:15 pm

Trump in UN address appeals to international community to respond to Iran

Trump described the “repressive” regime in Iran as “one of the greatest security threats facing peace-loving nations.”

US President Donald Trump appealed to the international community to respond to Iran’s escalating aggression and warned Iran's leadership during an address to the UN General Assembly on Tuesday.

Trump described the “repressive” regime in Iran as “one of the greatest security threats facing peace-loving nations” and called on Tehran to put the Iranian people first.

“After four decades of failure, it is time for Iran’s leaders to step forward and stop threatening countries and focus on building up their own country,” said Trump.

Trump called on other countries to follow the US in taking action against Iran.

“In response to Iran’s attack on Saudi Arabia’s oil facilities, we just imposed the highest level of sanctions on Iran’s central bank and sovereign wealth fund. All nations have a duty to act. No responsible government should subsidize Iran’s bloodlust,” said Trump.

Trump blamed Iran for the September 14 attacks on key oil installations in Saudi Arabia, an accusation Tehran has denied.

“If Iran were behind this attack, nothing would have been left of this refinery,” Iran’s Foreign Minister Mohammad Javad Zarif told reporters in New York on Monday.

US intelligence shows that the attack originated from Iran and the Arab Coalition’s preliminary findings showed the weapons were made by Iran.

Zarif also said he had no reason to believe Yemen’s Houthis were lying when they claimed responsibility for the attack that knocked out more than half of Saudi Arabia’s oil production and damaged the world’s biggest crude processing plant.

Britain, Germany, and France, joined the US on Monday in blaming Iran for the attack.

“It is clear to us that Iran bears responsibility for this attack. There is no other plausible explanation,” the three governments said in a joint statement.

The European leaders urged Tehran to agree to new talks with world powers on its nuclear and missile programs and regional security issues.

“The time has come for Iran to accept a long term negotiation framework for its nuclear program, as well as regional security issues, which include its missile programs,” the three leaders said.

Iran blasted the European accusations over the attacks as “ridiculous” and said it has ruled out the possibility of negotiating a new deal with the powers.

The Trump administration has implemented economic sanctions on Iran to pressure the country to give up its nuclear program and halt its support for terrorist and proxy organizations across the Middle East.

Trump announced new sanctions on Iran’s central bank on Friday, describing the measures as “the highest sanctions ever imposed on a country” by the US.

Zarif said the announcement “closed the door to negotiations.”

Iran’s President Hassan Rouhani is expected to propose a new Hormuz Peace Initiative, a regional cooperation plan purportedly focused on non-intervention and non-aggression, to the UN this week.

Both Trump and Rouhani have said that no meeting between the leaders is on the agenda for the UNGA.

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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.