Cuban migrant boat sinks off Florida due to Hurricane Ian; 20 missing
September 29, 2022, 8:50 am

Cuban migrant boat sinks off Florida due to Hurricane Ian; 20 missing

Hundreds of volunteers are preparing for #HurricaneIan, a Category 3 hurricane that is expected to grow to a Category 4 as it begins to impact Florida. Supplies, including cots, blankets, flashlights & clean-up kits, are heading to evacuation centers across the state - American Red Cross #HurricaneIan @RedCross

U.S. Border Patrol said on Wednesday (Sep 28) that 20 people were missing off the coast of Florida after a Cuban migrant boat sank due to Hurricane Ian.

The Border Patrol agents responded to a migrant landing in Stock Island, Florida, officials said on Twitter. The U.S. Coast Guard had initiated a search operation for 23 missing people, with the agency later saying it had rescued three of them. They were taken to a local hospital for symptoms of exhaustion and dehydration.

Four additional Cuban migrants swam to shore after their vessel sank due to inclement weather, Chief Patrol Agent Walter Slosar said. Local media said those four also were hospitalized.

On Tuesday (Sep 27), Hurricane Ian tore into western Cuba as a major hurricane, knocking out power to the entire country and leaving 11 million people without electricity.

Ian's thrashing of Cuba left at least two people dead, both deaths occurring in the hard-hit western province of Pinar del Rio. A woman died after a wall collapsed on her and a man died after his roof fell on him, state media said.

On Wednesday (Sep 28), Hurricane Ian was moving closer to Florida's west coast. The residents emptied grocery shelves, boarded up windows and fled to evacuation shelters.

Florida Gulf Coast braces for Hurricane Ian, millions urged to evacuate

The first hurricane advisory on Wednesday (Sep 28) put Ian’s maximum sustained winds near 120 mph (195 kilometers per hour), ranking it a Category 3, but said the storm was expected to strengthen to Category 4.

The hurricane hit Cuba at a time of dire economic crisis. Blackouts and long-running shortages of food, medicine and fuel were likely to complicate efforts to recover from Ian.

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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.