Biden Eases Humanitarian Aid Restrictions to Syria Without Lifting Sanctions
January 6, 2025, 10:06 am

Biden Eases Humanitarian Aid Restrictions to Syria Without Lifting Sanctions

بايدن

The Wall Street Journal reported that the Biden administration is preparing to announce on Monday the easing of restrictions on humanitarian aid to Syria, as a step aimed at accelerating the transfer of essential supplies without lifting sanctions that hinder other aid directed to the new government in Damascus.

The newspaper stated that this decision reflects "the White House's concern about the possibility of lifting comprehensive sanctions imposed on Syria, until the direction taken by the new leadership, which includes a group classified by the United States as a terrorist organization, becomes clear."

According to the newspaper, based on statements from officials, the limited step adopted by the administration over the weekend will allow the Treasury Department to issue exemptions for humanitarian groups and companies providing essential services, such as water, electricity, and medical supplies.

Officials clarified that this exemption, which was initially available for six months, will enable aid suppliers to avoid the need to obtain a license for each individual case; however, it will come with conditions to ensure that Syria does not misuse the supplies.

The newspaper noted that the United States remains cautious about lifting the sanctions barrier imposed on the Syrian regime, in an effort to secure guarantees that Damascus will not backtrack on its commitments to protect the rights of women and religious and ethnic minorities in the country.

In a statement last December, following the flight of Syrian President Bashar al-Assad from the country, Biden pointed out that "some of the rebel groups that toppled Assad have a troubling history of terrorism and human rights violations." He added, "They may say what is right today, but when they take on more responsibility, we will not only evaluate their words but also their actions."

The newspaper indicates that with the Biden administration nearing its end, decisions regarding sanctions and whether to recognize the new Syrian government may fall to the elected President Donald Trump.

Moreover, mid-level U.S. officials have met with Syrian leadership, as French Foreign Minister Jean-Yves Le Drian and German Foreign Minister Annalena Baerbock visited Damascus last Friday.

After her meeting with Syrian Deputy Foreign Minister Faisal Mikdad, Baerbock emphasized the need to involve women and Kurds in the country’s transition process, warning against the use of European funds to "build new Islamic structures."

The German official also stated that it is too early for European countries to lift sanctions on Syria, but added: "Recent weeks have shown how much hope exists here in Syria that the future will be in favor of freedom."

Both the United States and its allies in Europe and the Middle East agree that Syria urgently needs more aid, including funds necessary for the reconstruction of the country's destroyed infrastructure.

The European Union is also discussing steps that can be taken to facilitate the flow of aid to Syria, which is currently hindered by sanctions.

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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.