U.S. to drop Houthi terrorist designation due to Yemen crisis
February 6, 2021, 1:08 pm

U.S. to drop Houthi terrorist designation due to Yemen crisis

The United States intends to revoke the Houthi movement’s terrorist designation in response to Yemen’s humanitarian crisis, reversing one of the Trump administration’s most criticised last-minute decisions.

The move, confirmed by a State Department official on Friday, came a day after President Joe Biden declared a halt to U.S. support for the Saudi Arabia-led military campaign in Yemen, which is widely seen as a proxy conflict between Saudi Arabia and Iran.

“Our action is due entirely to the humanitarian consequences of this last-minute designation from the prior administration, which the United Nations and humanitarian organizations have since made clear would accelerate the world’s worst humanitarian crisis,” the official said.

Houthi official Mohammed Ali al-Houthi on Saturday told Al Mayadeen TV that the group had heard the U.S. administration’s recent statements on Yemen, but had yet to see anything happen.

The U.N. describes Yemen as the world’s biggest humanitarian crisis, with 80% of its people in need.

Last month the United Nations’ aid chief warned the new sanctions would push Yemen into a famine on a scale not seen for nearly 40 years. Famine has never been officially declared but indicators have deteriorated across the country.

“We welcome the stated intention by the U.S. administration to revoke the designation as it will provide profound relief to millions of Yemenis who rely on humanitarian assistance and commercial imports to meet their basic survival needs,” U.N. spokesman Stephane Dujarric said.

Former U.S. Secretary of State Mike Pompeo blacklisted the Houthis on Jan. 19, one day before Biden took office.

The Trump administration exempted aid groups, the United Nations, the Red Cross and the export of agricultural commodities, medicine and medical devices from its designation. But U.N. officials and relief groups called for the designation to be revoked.

Aid groups working in Yemen welcomed the move.

“This is a sigh of relief and a victory for the Yemeni people, and a strong message from the U.S. that they are putting the interests of Yemenis first,” said Mohamed Abdi, country director for the Norwegian Refugee Council, and urged the Biden administration to push for an immediate nationwide ceasefire.

The State Department official stressed that the action did not reflect the U.S. view of the Houthis and their “reprehensible conduct”.

A Saudi-led military coalition intervened in Yemen in 2015, backing government forces fighting the Iran-aligned Houthis. U.N. officials are trying to revive peace talks as the country also faces an economic crisis and the COVID-19 pandemic.

(Reuters)

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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.