Between Hamas Leaving Qatar and Denial.. Diplomatic Crisis Looms Between Them
American pressure on Qatar appears to be increasing to reduce Hamas's influence in the region, which could affect the future of Palestinian file negotiations
November 9, 2024, 5:10 pm

Between Hamas Leaving Qatar and Denial.. Diplomatic Crisis Looms Between Them

قطر وحماس

Hamas dismissed today, Saturday, reports about its expulsion from Qatar, considering these news within the framework of "tactics and pressure," according to CNN News Network, at a time when the region is witnessing an escalation in diplomatic tensions.

A senior Hamas official emphasized that "what was reported in Israeli media about Qatar agreeing to expel Hamas from Doha based on an American request has no basis and is merely pressure tactics. This has been repeated without any evidence," recalling previous attempts to distort the relationship between the movement and Doha.

A diplomatic source revealed Qatar's withdrawal from its role as main mediator in efforts to reach a ceasefire agreement in Gaza and release detainees, indicating that Doha notified Hamas that its office there "no longer serves its purpose," in a development reflecting a potential shift in the regional political scene.

The source, who preferred anonymity, explained that "the Qataris informed both Israelis and Hamas that as long as there was a refusal to negotiate an agreement in good faith, they wouldn't be able to continue mediation. Consequently, Hamas's political office no longer serves its purpose," suggesting a possible radical change in future negotiation mechanisms.

Political analysts reviewed Qatar's pivotal role in recent years as a key regional mediator, pointing to its success in completing numerous agreements and understandings between various parties.

While Axios revealed a senior U.S. administration official informing Doha of Washington's rejection of Hamas's presence on its territory, three movement officials opposed these claims, confirming they hadn't received any request to leave Qatar, in a position reflecting clear divergence in circulating narratives.

These developments coincided with intense international efforts to revive the peace process, as President Joe Biden's administration prepares for a final attempt to stop the conflict in Gaza and Lebanon, while American, Egyptian, and Qatari mediation efforts continued for months seeking an agreement to stop the war and ensure the release of Israeli detainees in Gaza since last October 7.

Talks stalled after the Israeli side rejected military withdrawal from the Strip weeks ago, despite Hamas agreeing to a version of a ceasefire proposal revealed by Biden last May, raising questions about parties' seriousness in reaching a solution.

Levant-Agencies

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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.