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Global Solidarity & the Coronavirus Crisis

In the United Kingdom the particularly vulnerability of older residents or those with underlying health conditions has seen an incredible grassroots response. Often at a street level - WhatsApp groups or Zoom chats are used to coordinate the deliveries of essential items and care to those who need it. With little direction or coordination from the authorities, people know how to care for people in a crisis.
As someone who has worked on humanitarian crises for almost twenty years what I’m seeing in the UK is very familiar to what I saw in war zones or areas of the world devastated by natural disasters.
Prior to the war in Syria there wasn’t much in the way of national aid organisations. International organisations present tended to have limited scope with particular focus on Palestinian and Iraqi refugees. The events of 2011 would trigger the retreat of the government from large parts of the country and into the vacuum huge numbers of actors stop up, humanitarian actors amongst them.
The protracted nature of the Syrian conflict and its seeming absence of any ‘good guys’ who stand a chance of winning has seen coverage of the conflict drop off whilst Coronavirus spikes in every sense of the word. One tracker showed how ‘toilet roll’ came to be a bigger headline than ‘Syria’ throughout the media in March.
The economic reverberations from Coronavirus has led charities in the UK to warn that the sudden shutting down of their shops and postponement of fundraising events like the London Marathon could force them to close. With record numbers of people around the world dependent on humanitarian aid this is a critically dangerous time to have Coronavirus shut down avenues of charity and global giving.
However, there is an alternative scenario that could emerge from the current crisis. Instead of further national isolation and the cutting of ties of global solidarity, the reverse could occur as suddenly millions living in comfortable, safe, developed economies experience a brief window of what it is like to live in crisis.
Empty shopping shelves are the norm for many refugees dependent on food from UN agencies. Limits to movement and forms of ‘self isolation’ are the norm for many trapped in internal displacement camps. The continued statistical analysis around hundreds of thousands of infections and deaths would be very familiar to those who’ve tried to quantify the Syrian death toll - the UN officially stopped counting years ago.
Suddenly people may have forms of shared experience whereas previously the horror and carnage of the Syrian conflict may have felt totally alien to so many.
The thread of this potential global solidarity will be tested by the prospect of the lag of infection meaning that countries in crisis may find themselves being hit by Coronavirus weeks from now. Syria has only just acknowledged its first fatality from the virus and its moribund sanction hit economy and devastated health infrastructure - with only a handful of ventilators - is not ready for something that has devastated far more prepared countries.
One charity estimated that we should expect a minimum of 100,000 excess deaths from the virus in Syria. A vast number when you consider that the US, with 327 million people, are looking at 200,000.
The test of whether the Coronavirus has triggered a greater sense of global solidarity will come when countries like Syria and Yemen become deluged with responding to the virus whilst managing all of their own underlying conditions. Such a solidarity must start with financing the UN appeals and NGOs who are delivering essential services in these places - but it shouldn’t end there.
Already there are attempts to leverage the Coronavirus crisis to trigger ceasefires and peace building efforts where previous attempts have failed. There will be a political temptation to focus only inwards in the aftermath of the unprecedented lockdowns we’re currently seeing but putting your head in the sand at a time of such incredible global flux would be a huge missed opportunity.
One commentator asked ‘what will change?’ once the Coronavirus crisis is over - ‘everything’ was his conclusion. In the shadow of such seismic change those with positive agendas and policy solutions must be ready to go harness a new global solidarity rather than deciding to hide in bunkers of isolated nationalisms. levant
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BENEFIT AGM approves 10%...
- March 27, 2025
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.
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