U.S. will not release Middle East peace plan before Israeli election
August 28, 2019, 3:34 pm

U.S. will not release Middle East peace plan before Israeli election

The United States will not release the long-delayed political portion of its Israeli-Palestinian peace plan before Israel’s elections, White House Middle East envoy Jason Greenblatt said on Wednesday.

The move, announced in a tweet by Greenblatt, appeared to be aimed at not interfering with September elections in which the leadership of Prime Minister Benjamin Netanyahu, a close ally of U.S. President Donald Trump, is at stake.

“We have decided that we will not be releasing the peace vision (or parts of it) prior to the Israeli election,” Greenblatt said on Twitter.

Trump on Monday had said the plan might be revealed before the Israeli election.

The plan is aimed at resolving some of the thorniest issues of the Israeli-Palestinian conflict, but little is known about its contents.

Trump’s Middle East team, including his senior adviser and son-in-law Jared Kushner, had wanted to roll out the plan during the summer but Netanyahu’s failure to put together a governing coalition after April elections prompted a delay.

Netanyahu now faces a fresh vote on Sept. 17 and, if successful, will try again to form a coalition.

Unveiling a peace plan before Sept. 17 could have complicated a tight race in which Netanyahu’s right-wing Likud party and its strongest rival - Blue and White, led by former armed forces chief Benny Gantz - are running neck and neck in the polls.

Netanyahu has praised Trump policy moves such as the transfer of the U.S. Embassy from Tel Aviv to Jerusalem, and his recognition of Jerusalem as Israel’s capital and its annexation of the occupied Golan Heights.

But any perceived concessions towards the Palestinians in the peace plan in the run-up to a ballot only three weeks away could have harmed Netanyahu’s chances of remaining in office.

Netanyahu has campaigned for votes partly by highlighting his close relationship with Trump, whom he has featured on election billboards.

The White House in June announced the economic piece of the Trump peace plan and sought support for it at a conference of global finance ministers in Bahrain.

It proposes a $50 billion investment plan that would create a global investment fund to lift the Palestinian and neighbouring Arab state economies, and fund a $5 billion transportation corridor to connect the West Bank and Gaza.

Gulf leaders, however, want to see details of the political plan before signing on to the economic plan.

Reuters.

Brazil announces South American meeting on Amazon, takes Chile's help Lebanese army opens fire at Israeli drone: Security source

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.