European Union reconfirms its three ‘Noes’ in Syria
No normalization with the Syrian regime, no reconstruction and no lifting of sanctions until a political solution in line with UN Security Council resolution 2254 is firmly underway.
March 18, 2022, 4:23 pm

European Union reconfirms its three ‘Noes’ in Syria

Josep Borrell-EU's top diplomat/Facebook

The Asharq Al-Awsat reported, the European Union has reconfirmed rejection to normalization with the Syrian regime, to reconstruction and to lifting of sanctions until a political solution in line with UN Security Council resolution 2254 is firmly underway.

High Representative of the European Union for Foreign Affairs and Security Policy, Josep Borrell, said: “Yesterday marked 11 years since the beginning of the tragic and bloody conflict in Syria."

“Unfortunately, the conflict continues still today, and the humanitarian needs are at their highest with 14.6 million Syrian people in need of assistance inside and outside of the country. Syrian refugees constitute the largest displacement crisis in the world with 5.7 million registered refugees. Another 6.9 million Syrian nationals are displaced within Syria.”

He went on saying that “the Syrian people remain a priority for the European Union. The international community must keep up the search for a durable and comprehensible political solution in Syria, and the European Union remains fully committed to this goal.”

“At their meeting with UN Special Envoy Geir Pedersen at the Foreign Affairs Council on 24 January, EU Foreign Ministers restated their unity and reconfirmed the EU’s position: no normalization with the Syrian regime, no reconstruction and no lifting of sanctions until a political solution in line with UN Security Council resolution 2254 is firmly underway.

At the same time, the European Union continues to support the efforts of UN Special Envoy Pedersen, including his “steps-for-steps” approach, and remains committed to the unity, sovereignty and territorial integrity of the Syrian state.”

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Borrell noted that on 10 May, “the European Union will co-chair with the UN a sixth Brussels Conference on Supporting the Future of Syria and the region, with the participation of governments, international organizations and Syrian civil society.”

The European Union and its Member States remain the largest provider of international aid and deliver humanitarian, stabilization, and resilience assistance inside Syria and in neighboring countries.

Last year the EU as a whole pledged €3.7 billion in total for 2021 and beyond. Since 2011, the EU and its Member States have mobilized over €25 billion for the conflict in Syria, according to Borrell.

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SANA reported, citing Syria’s Ministry of Foreign Affairs and Expatriates: “Eleven years have passed on the US-backed terrorist aggression on Syria that mainly aimed to obstruct its economic development, shed blood of Syrian youths and destroy its achievements and infrastructure."

On Wednesday, France, Germany, Italy, the United Kingdom, and the United States of America released a joint statement on the occasion of the 11-year anniversary of the beginning of the Syrian conflict.

The statement read: “It is past time for the regime and its enablers, including Russia and Iran, to halt their ruthless attack on the Syrian people."

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“The coincidence of this year’s anniversary with the appalling Russian aggression against Ukraine” they said, “highlights Russia’s brutal and destructive behavior in both conflicts.”

“We do not support efforts to normalize relations with the Assad regime and will not normalize relations ourselves, nor lift sanctions or fund reconstruction until there is irreversible progress towards a political solution.

We encourage all parties, especially the Syrian regime, to participate in the March 21 meeting of the Constitutional Committee in good faith and call for the Committee to deliver on its mandate.”

Source: aawsat

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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.