Conservatives ahead as Iran poll results trickle in
February 22, 2020, 11:29 am

Conservatives ahead as Iran poll results trickle in

Organisers extended polling hours until midnight to allow as many Iranians as possible to vote in a parliamentary election billed by the authorities as a show of unity against the US File photo AFP

Conservatives took an early lead Saturday as the first results of Iran's parliamentary election came in, boosted by a predicted low turnout following the disqualification of nearly half the candidates.

Friday's election followed months of steeply escalating tensions between Iran and its decades-old arch-foe the United States.

Voters had been widely expected to shun the polls, disillusioned by unfulfilled promises and struggling to cope in a country whose economy has buckled under harsh US sanctions.

About half of the 16,000-odd candidates were disqualified. Among them were many reformist and moderate candidates -- including dozens of sitting MPs -- leaving conservatives with virtually no competition.

By midday (0830 GMT) Saturday, votes had been counted in 71 constituencies out of 208, according to National Elections Committee figures reported by semi-official news agency ISNA.

Tehran is the biggest catch in the election with 30 seats.

The conservative and ultra-conservative alliance appeared to have a comfortable edge in the capital in early results, the committee's spokesman Esmail Mousavi said on state television.

Most votes went to the first three names on the alliance's list, he said.

Leading the race was Mohammad Bagher Ghalibaf, a three-time presidential candidate, former police chief and member of the Revolutionary Guards who was Tehran mayor from 2005 to 2017.

Reformists and moderates hardly figured in the 37 other names of "leading Tehran candidates", Mousavi said.

Final results for both the capital and other provinces would be announced by early Sunday at the latest, he added.

If the results are confirmed, it will mean President Hassan Rouhani's slender majority of reformists and moderates elected with fanfare four years ago is nearly purged.

"A lot of people voted in the previous parliamentary election, but the enthusiasm faded away every day after that," Ali, a Tehran taxi driver, told AFP.

"And now there's nothing to be hopeful about to go and vote," added the 53-year-old, who abstained.

With official figures still coming in, news agencies close to conservatives and ultra-conservatives have predicted a landslide win for their candidates across Iran.

An unofficial tally published by Fars news agency said 183 of parliament's 290 seats had already been decided, with conservative candidates winning 135 of them.

Reformists were a distant second at 20, it said, adding independents had won 28 seats.

Fars tweeted that turnout in Tehran was 1.9 million out of more than nine million eligible voters.

Many in the capital seem to have sat out the election, including Arghavan Aram, who manages an NGO for transsexuals.

"An election with only one faction is not an election, it's a selection," she said.

But Aram appeared optimistic for a future where "Trump leaves, Democrats come to power alongside a moderate supreme leader" in Iran and things would change.

The state television website said that among 56 winners announced on Saturday, most were fresh faces and only 10 were former MPs.

The 11th parliamentary election since the 1979 Islamic Revolution comes after a surge in tensions between Tehran and Washington, and Iran's accidental downing of a Ukrainian airliner that sparked anti-government protests.

Turnout was estimated at around 40 percent nationwide and 30 percent in Tehran at the scheduled close of polls on Friday, according to Fars.

But authorities extended polling for another six hours to allow as many people as possible to vote.

Fars said the official turnout figure would be released on Saturday, while official results are not expected to be announced until Sunday.

Schools were closed in dozens of urban centers on Saturday while the count went ahead.

Iran fell into a deep recession after US President Donald Trump reimposed sanctions following Washington's unilateral withdrawal from a landmark nuclear deal in 2018.

source: AFP

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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.