Egyptian officials say Palestinians plan to call off elections
April 27, 2021, 8:54 am

Egyptian officials say Palestinians plan to call off elections

An Israeli army helicopter carrying Israeli Prime Minister Benjamin Netanyahu flies over a demonstrator waving the Palestinian flag during a protest in the Palestinian village of Susya, south of Yatta town, in the occupied West Bank on March 14, 2021. (File photo: AFP)

Egyptian officials say the Palestinian Authority plans to call off its first elections in 15 years, citing Israel’s refusal to allow voting in east Jerusalem.

The decision would effectively grant Israel a veto over the holding of elections, though President Mahmoud Abbas could also benefit from the canceling a vote in which his fractured Fatah party is expected to lose power and influence to the extremist militant group Hamas.

An Egyptian diplomat and an intelligence official said they had been briefed on the decision, which will be announced Thursday at a meeting of Palestinian factions. They said Egypt is in talks with Israel to reach a compromise to allow the vote but those efforts have so far failed.

The two spoke late Monday on condition of anonymity to discuss the closed-door talks.

The intelligence official said Hamas wants the elections to go ahead but that no faction wants to proceed without guarantees from the international community that voting will be held in east Jerusalem. The official said the factions are discussing the formation of a unity government instead that would include Hamas.

A Palestinian official said no decision will be made until the factions meet on Thursday, and that if Israel decides to allow voting in east Jerusalem, the May 22 elections will go ahead as planned. The official said Fatah is opposed to holding elections without east Jerusalem because it would mean accepting Israel’s annexation.

The official was not authorized to talk to reporters and spoke on condition of anonymity.

The Palestinian Election Commission says 6,000 voters in east Jerusalem would need to submit their ballots through Israeli post offices in accordance with past agreements while the other 150,000 could vote with or without Israeli permission.

The small number of voters who require Israeli permission are unlikely to have a decisive impact on the vote, but their participation is seen as symbolically important for maintaining Palestinian claims to east Jerusalem. Israel has not said whether it will allow them to vote.

They also provide a pretext for Abbas to cancel a parliamentary election that his Fatah movement is expected to lose badly. Fatah has split into three rival lists, paving the way for Hamas to emerge as the biggest party in parliament.

Israel and the international community, which view Hamas as a terrorist group, would also quietly welcome delaying or canceling the vote. Hamas’ landslide victory in the 2006 parliamentary elections sparked a crisis that culminated with the militant group seizing Gaza from Abbas’ forces and confining his authority to parts of the occupied West Bank.

Israel captured east Jerusalem, along with the West Bank and Gaza, in the 1967 war. The Palestinians want all three territories for their future state and view east Jerusalem as their capital.

Israel annexed the eastern sector of the city in a move not recognized internationally. It considers all of Jerusalem to be its capital and bars the Palestinian Authority from operating there. The city’s fate has been one of the thorniest issues in the peace process, which ground to a halt more than a decade ago.

Tensions have flared in Jerusalem in recent days as Israeli police have clashed with Muslim worshippers over restrictions on gatherings during the holy month of Ramadan.

source: The Associated Press

Image source: AFP

Levant

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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.