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Again .. US investigations besiege Qatar's "suspicious" endeavours Where do Qatar’s billions go?

US investigations have once again surrounded Qatar's suspicious efforts to influence US soft power. They have targeted this time the questionable Qatari funding for US universities.
According to the New York Times, the US Department of Education has launched investigations aiming at cracking down on universities, which have failed to disclose donations and contracts from foreign entities and governments, to ensure they were not linked to terrorism.
The newspaper pointed out that in July the ministry corresponded with universities inquiring for nine-year records in regards to financial transactions with countries including Qatar and China.
The investigations into suspicious Qatari funding for US universities was conducted in conjunction with the Emir's visit to the White House last July.
This summer, the US Department of Higher Education announced that it was investigating whether Georgetown, Texas A&M, Cornell and Rutgers universities were in full compliance with federal law which requires universities and colleges to report all gifts and contracts received form any foreign sources that are worth more than 250 thousand dollars.
In the letters to the universities, ministry officials said they were looking for nine-year records of agreements, contacts and financial transactions with entities and governments in countries such as China and Qatar.
This month, universities were expected to hand over thousands of records that could reveal millions of dollars of foreign aid to support and operate overseas campuses as well as academic research and other cultural and academic partnerships.
The ministry's spokeswoman, Liz Hill, said the department's main concern was "transparency," noting that they expected "colleges and universities to provide full, accurate and transparent information when reporting foreign gifts and contracts."
"Our national security depends on this, and transparency is required by law," she said. "Our investigation shows that the department expects institutions to take their reporting obligations seriously."
The US Department of Education's campaign comes amid increased scrutiny of "foreign influence" in recent years; be it "Russian interference" in US elections, "Chinese economic espionage" or outside efforts to influence US think tanks as Qatar does.
Targeting Qatari funding
During the investigation, high-level Qatari organizations such as the Qatar Foundation for Education, Science and Community Development, which help fund US universities in the country, were repeatedly mentioned.
The ministry stated that the universities have sometimes omitted documents. For example, reports from Texas A&M should have included its Qatar campus, which receives millions of dollars from Qatar Foundation.
Several universities and colleges under investigation have praised earlier their partnerships with Qatar Foundation.
In June, the Associated Press revealed that Qatar Foundation provided $ 33 million in 2018 to Georgetown University. It also provided $ 6.1 million to Texas A&M University.
The disclosure does not seem to suit Qatar. Lawyers filed a lawsuit in Texas last year in an attempt to prevent Texas A&M from issuing records on Doha’s donations. They argued that these donations measure up to “trade secrets”.
It is noteworthy that doubting the objectives of Qatari funds is not new to the Americans. Media reports have previously revealed details on the money Doha spends on academics and journalists in the West in order to recruit their pens to raise its reputation, so as to reassure that things are on the scale of its agendas.
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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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