Cairo prepares for 2022 celebrations as the Capital of Culture in the Islamic World
December 20, 2021, 9:16 am

Cairo prepares for 2022 celebrations as the Capital of Culture in the Islamic World

Egypt-Cairo city/Pixabay

In its report on Cairo's designation as the "Capital of Culture in the Islamic World" in 2022, the Xinhua reported that an Egyptian official has said, celebrations will boost cultural tourism in the Egyptian capital, which is known as "the city of a thousand minarets" for its historic mosques and landmarks.

Osama Talaat, head of Egypt's Ministry of Tourism and Antiquities' Islamic, Coptic, and Jewish antiquities sector, said Cairo's tourism business is likely to benefit from the celebrations, which are set to begin in mid-February 2022.

Cairo was supposed to hold celebrations as the Islamic world's cultural capital in 2020. However, activities were postponed due to the outbreak of the COVID-19 pandemic, according to Salim AlMalik, director-general of the Islamic World Educational, Scientific and Cultural Organization (ICESCO), who spoke at a press conference on December 7.

During the conference, the Egyptian Ministry of Culture announced it will collaborate with ICESCO to host the celebrations, which include more than 50 activities.

Seminars, lectures, conferences, publications, photo galleries and competitions, artistic shows, folklore performances, handicraft exhibitions, and the presentation of a special film about Cairo are among the activities announced at the press conference by Egyptian cultural officials.

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Egyptian Minister of Culture Inas Abdel-Dayem said at the press conference: "The choice of Cairo as the capital of culture in the Islamic world was made because it is one of the oldest and most ancient Arab capitals, as well as a witness of the depth of history thanks to the tremendous heritage it possesses."

Cairo's designation "embodies Egypt's international position" and confirms Egypt's cultural and historical standing among the world's states, the official said, adding Cairo's heritage expresses the fundamental characteristics of human civilization in general and ancient Islamic civilization in particular.

The celebrations coincide with the ongoing renovation projects in Historic Cairo, such as those in the areas surrounding Bab Zuweila, Bab al-Nasr, Bab al-Futuh, Al-Hakim Mosque and Al-Rifa'i Mosque, according to Osama Talaat.

Egypt-Dayr al-baḥrī-Luxor temples/Pixabay

Founded in the 10th century during the Fatimid caliphate, Historic Cairo is recognized by the United Nations Educational, Scientific and Cultural Organization as a World Cultural Heritage site, being "one of the world's oldest Islamic cities."

Among the famous landmarks of Historic Cairo are Al-Azhar Mosque, Al-Hussein Mosque, the Khan el-Khalili bazaar, Al-Mu'izz Street, which was named after a Fatimid caliph and contains iconic religious and charitable buildings commissioned by Egypt's rulers and elites back then, and the three remaining gates in the walls of Old Cairo: Bab Zuweila, Bab al-Nasr and Bab al-Futuh.

Tourism in the city is not restricted to Historic Cairo but extends to Greater Cairo that includes the great pyramids of Giza, besides various museums featuring different eras of Egypt's history.

Source: xinhua

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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.