WHO special session kicks off seeking 'pandemic treaty' amid Omicron concerns
November 30, 2021, 6:49 am

WHO special session kicks off seeking 'pandemic treaty' amid Omicron concerns

World Health Organization/Official Facebook page

The Xinhua reported that a special session of the World Health Assembly (WHA) kicked off here on Monday amid growing concerns over the latest Omicron coronavirus variant, where the participants aim to negotiate a new "pandemic treaty."

LEGALLY BINDING PANDEMIC TREATY

The WHA May session this year decided to set up a working group to consider the findings and recommendations of a number of panels and committees on global preparedness for and response to COVID-19 before starting their discussions on Monday on the potential new "legally binding agreement between nations."

"COVID-19 has exposed and exacerbated fundamental weaknesses in the global architecture for pandemic preparedness and response," said World Health Organization (WHO) Director General Tedros Adhanom Ghebreyesus at the opening of the special session.

He said: "The best way we can address them is with a legally binding agreement between nations, an accord forged from the recognition that we have no future but a common future."

Coronavirus/Pixabay

According to Tedros, the new "pandemic treaty" is expected to address COVID-19 as "a crisis of solidarity and sharing."

"The lack of sharing of PPE (personal protective equipment), tests, vaccines, technology, know-how, intellectual property and other tools hindered our collective ability to prevent infections and save lives," he said, noting the lack of a consistent and coherent global approach has resulted in "a splintered and disjointed response, breeding misunderstanding, misinformation and mistrust."

GET PREPARED FOR OMICRON

The WHA special session coincides with the emergence of the highly mutated Omicron virus variant, which was designated by the WHO as a "variant of concern" (VOC) just three days ago.

Though the WHO has said it is not yet clear whether Omicron is more transmissible or causes more severe disease than the other known variants, including Delta, concerns over its impact on the efficacy of existing vaccines and treatments have been growing.

A number of countries have already introduced entry bans on travelers from South Africa, where Omicron was first confirmed on Nov. 9 and has been identified in multiple European countries, including Belgium, the Netherlands, the United Kingdom, Portugal, and Sweden.

Sweden's Public Health Agency on Monday confirmed its first case of the Omicron variant, found when a traveler who last week returned to Sweden from South Africa was tested.

Portugal's National Institute of Health Doctor Ricardo Jorge (INSA) on Monday confirmed 13 cases of the Omicron variant in Portugal among players and staff members of the football club Belenenses SAD.

The INSA said that the samples were collected and analyzed on Sunday, and that one of the players who tested positive had recently returned to the country from South Africa.

In Germany, the COVID-19 seven-day incidence rate climbed to a new all-time high of 452.4, up from 386.5 a week ago, the Robert Koch Institute for infectious diseases announced on Monday.

German virologist Christian Drosten told the broadcaster ZDF on Sunday that he was "quite concerned at the moment. I am surprised to see so many mutations in the virus."

In Cyprus, new anti-coronavirus measures relating to young school children came into force on Monday, with most COVID-19 clusters currently being found in schools.

In addition to banning direct arrival from the eight African countries most affected by the Omicron variant, all travelers coming from other destinations will also be tested for the coronavirus at airports, said Michalis Hadipantelas, Cyprus' health minister.

Polish Health Minister Adam Niedzielski said on Monday that the country's government is set to announce new restrictions to cope with the new variant, including tightened flight rules on seven southern African nations.

Tedros said: "Omicron demonstrates just why the world needs a new accord on pandemics: our current system disincentivizes countries from alerting others to threats that will inevitably land on their shores."

Source: xinhua

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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.