Egypt displays trove of newly unearthed ancient artifacts near Cairo
May 30, 2022, 2:46 pm

Egypt displays trove of newly unearthed ancient artifacts near Cairo

A reporter films painted coffins with well-preserved mummies inside, dating back to the Late Period of ancient Egypt around 500 B.C. (AP)

The Arabnews reported, citing the Associated Press, Egypt on Monday (May 30) displayed a trove of ancient artifacts dating back 2,500 years that the country’s antiquities authorities said were recently unearthed at the famed necropolis of Saqqara near Cairo.

The artifacts were showcased at a makeshift exhibit at the feet of the Step Pyramid of Djoser in Saqqara, 24 kilometers southwest of the Egyptian capital.

According to Mostafa Waziri, head of the Supreme Council of Antiquities, the find includes 250 painted sarcophagi with well-preserved mummies inside, as well as 150 bronze statues of ancient deities and bronze vessels used in rituals of Isis, the goddess of fertility in ancient Egyptian mythology, all from the Late Period, about 500 B.C.

Painted coffins with well-preserved mummies inside, dating back to the Late Period of ancient Egypt around 500 B.C, and other ancient artifacts are displayed at a makeshift exhibit at the feet of the Step Pyramid of Djoser in Saqqara. (AP)

A headless bronze statue of Imhotep, the chief architect of Pharaoh Djoser who ruled ancient Egypt between 2630 B.C. and 2611 B.C was also displayed.

The artifacts will be transferred for a permanent exhibit at the new Grand Egyptian Museum, a mega project still under construction near the famed Giza Pyramids, just outside Cairo.

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The Saqqara site is part of a sprawling necropolis at Egypt’s ancient capital of Memphis that includes the Giza Pyramids and the smaller pyramids at Abu Sir, Dahshur and Abu Ruwaysh. The ruins of Memphis were designated a UNESCO World Heritage site in 1970s.

Egypt has been heavily promoting recent archaeological finds, hoping to attract more tourists to the country. Its tourist sector, a major source of foreign currency, suffered from years of political turmoil and violence following the 2011 uprising that toppled autocrat Hosni Mubarak.

Mummy of Egyptian pharaoh Amenhotep I digitally unwrapped for the first time

The sector has recently started to recover from the coronavirus pandemic, only to be hit again by the effects of Russia’s war on Ukraine. Along with Russia, Ukraine is a major source of tourists visiting Egypt.

Source: arabnews

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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.