Israel Demands Egypt Dismantle Military Structure in Sinai
Egypt insists on strengthening security at its eastern border with Gaza Strip for fear of Palestinian displacement, while Israel sees this as a violation of the historic Camp David Accords
April 1, 2025, 10:56 pm

Israel Demands Egypt Dismantle Military Structure in Sinai

Photo credit: NASA Johnson on VisualHunt.com

Egypt is giving great attention to its border with the Gaza Strip, especially since the outbreak of the Israeli war in October 2023, while sources reported that an Israeli security official revealed that Tel Aviv has submitted a request to Cairo regarding Egyptian forces. The strategic sensitivity of the Egyptian-Israeli border is increasing with the continuation of military operations in the region.

The official highlighted that Israel "asked Egypt and America to dismantle the Egyptian army's military infrastructure in Sinai," according to the newspaper "Israel Hayom." This unprecedented request reflects escalating Israeli concerns about growing Egyptian capabilities in the strategic peninsula.

He described "the Egyptian measures as a serious violation of the security annex to the peace agreement between the two countries," according to his statement. This characterization represents an escalation in the tone of Israeli discourse toward Egypt in an issue that has long been sensitive.

"Tel Aviv Will Not Accept"

He emphasized that this issue "is a top priority on the table of Israeli Defense Minister Yisrael Katz," adding that Tel Aviv "will not accept this situation," referring to the increasing Egyptian military presence in Sinai. These statements reveal an Israeli trend to escalate the diplomatic position with Cairo.

He considered that "the problem is not limited to the entry of Egyptian military forces into Sinai beyond the quotas agreed upon according to the military annex of the Camp David Accords, but lies in the continuous strengthening of the Egyptian military structure, which Israel considers a step not easily reversible," according to his description. This interpretation shows a shift in Israeli concerns from temporary measures to permanent structural changes.

Israeli sources previously reported that Katz "conducted high-level discussions about what he described as Egyptian violations of the military annex to the peace agreement between Egypt and Israel," according to the newspaper "Yedioth Ahronoth." These discussions indicate an escalating path in Israeli handling of this file.

They added that Katz asked the Israeli military establishment to "delve" into the issue and study the implications of these developments for Israel. This directive suggests the possibility of Israeli preemptive measures in response to Egyptian movements.

This information came after the Egyptian border witnessed more military reinforcements during the past months, following growing talk about the displacement of Palestinians from Gaza to neighboring countries. These developments show the direct connection between Israeli-Egyptian tension and Egyptian fears of displacement scenarios.

It is worth noting that Egypt signed a peace treaty with Israel on March 26, 1979, following the Camp David Accords between the two sides in 1978. Its most prominent provisions included ending the state of war, normalizing relations, and Israel's complete withdrawal of its armed forces and civilians from the Sinai Peninsula, while keeping the area demilitarized. This reminder of the historic agreement refers to the legal reference that the parties refer to in the current dispute.

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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.