US Sanctions Target Sudanese Official for Cooperation with Iran.. Over Drone Deals
US sanctions on the director of Sudanese Military Industries indicate Washington's attempt to curb military cooperation with Tehran and Moscow
October 24, 2024, 7:56 pm

US Sanctions Target Sudanese Official for Cooperation with Iran.. Over Drone Deals

الجيش السوداني \ تعبيرية \ متداولة

US sanctions targeted the head of military industries in the Sudanese army, Mirghani Idris Suleiman, today Thursday, as the Sudanese conflict surpasses eighteen months.

The US State Department highlighted that "Idris led the purchase of drones from Iran and Russia for the Sudanese army, causing the expansion of the war in Sudan," emphasizing that "the Sudanese army prioritized purchasing drones over peace."

Suleiman holds the position of head of the Internal Security Agency, which is listed on the Office of Foreign Assets Control list, where he is responsible for purchasing and manufacturing weapons for the Sudanese Armed Forces, according to the US Treasury website.

Suleiman progressed through military ranks since graduating with Sudanese Armed Forces Commander Abdel Fattah al-Burhan in the thirty-first batch, where he served in intelligence before taking command of the Internal Security Agency.

Suleiman assumed the position of director of military procurement, heading numerous official delegations to negotiate with potential suppliers.

The sanctions coincided with the outbreak of violent confrontations between the army and Rapid Support Forces in the city of Al-Fashir in North Darfur, where eyewitnesses told Al-Arabiya/Al-Hadath they heard sounds of heavy and light weapons in multiple axes of the city, following a relative calm that lasted for more than a month.

The Abu Shouk camp emergency room in Al-Fashir announced that the camp was subjected to artillery shelling by the Rapid Support Forces, resulting in civilian casualties.

The ongoing conflict between the Sudanese army and the Rapid Support Forces for nearly 18 months has depleted the country's resources, causing an unprecedented humanitarian crisis and forcing more than 10 million people to flee, while UN organizations struggle to provide humanitarian assistance.

Levant-Agencies

Iran Softens its Tone and Retreats from Escalation.. Calling to Avoid All-Out War Lebanese Prime Minister Calls for Strengthening Army's Role in the South

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.