Yemenis begin talks to move the country from war to peace
March 31, 2022, 5:07 pm

Yemenis begin talks to move the country from war to peace

Yemen's Houthis launched attacks on Saudi energy facilities on Friday 25-03-2022 (File photo: Reuters)

The Asharq Al-Awsat reported, the Yemenis kickstarted a marathon of consultations that included most of the war-torn country’s parties, components, and personalities, amid Yemeni, regional, and international optimism. Talks sought drafting a roadmap that would move Yemen from the state of war to peace.

While diplomats and officials affirmed that holding intra-Yemeni consultations is a positive step in the right direction towards achieving comprehensive peace in the country, participants at the talks considered the Gulf invitation as an opportunity reflecting the interests of Yemen that should not be neglected.

In his opening speech at the talks, Gulf Cooperation Council (GCC) Secretary General Nayef Al-Hajraf emphasized that the Riyadh Agreement represents a roadmap and a Yemeni national entitlement, where the completion of its items is a Yemeni requirement.

Al-Hajraf stressed there is no solution but the peaceful one, and that the war with all its hardships cannot realize the envisioned security and stability, expressing hope for the consultations to mark the start of a year of relief for people.

Yemen soldiers (File photo: Shutterstock) — Yemeni soldiers (File photo: Shutterstock)

The secretary general said that intra-Yemeni consultations with their six axes (political, economic and development, relief and humanitarian, social, and media aspects) represent a platform for Yemenis to diagnose the reality and understand its difficulties, predict the future and prepare for its challenges and plan practical steps that move Yemen from the state of war and woes to the state of peace and hopes.

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Al-Hajraf said that the success of the consultations is not an option rather a duty that requires all to feel the national responsibility and discard all reasons of division and domestic differences and to effectively contribute to realizing the required and urgent national reconciliation necessary to build a clear future map to restore stability in Yemen and achieve the development and welfare of its people.

He praised international community efforts for ending the conflict in Yemen and valued the Saudi-led Arab Coalition’s call for a ceasefire.

Secretary-General of the Organization of Islamic Cooperation (OIC) Hussein Ibrahim Taha said dialogue is the only way to resolve the eight-year conflict in Yemen.

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He added: “The Yemeni people have the right to aspire to a decent life and a better future."

For his part, UN Special Envoy for Yemen Hans Grundberg said that there is an urgent need to support a comprehensive solution in Yemen, pointing to the importance of cooperation with regional organizations to contribute to solving the Yemeni crisis.

Source: aawsat

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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.