Following The US Withdrawal, Afghans are Bracing for Further Conflict and Chaos
July 9, 2021, 2:26 am

Following The US Withdrawal, Afghans are Bracing for Further Conflict and Chaos

According to the We For News, the US military’s recent handover of the Bagram Air Base near Kabul to the Afghan government effectively marks the end of a 20-year war that has cost more than $2 trillion. With the Taliban, which had been removed from power by the 2001 US-led invasion, now poised to regain control, many in Afghanistan and the region are bracing for further conflict and chaos.

In this Big Picture, former German Foreign Minister Joschka Fischer warns that the humanitarian consequences of the West’s withdrawal could be catastrophic. Former Swedish Prime Minister Carl Bildt agrees, and argues that avoiding a new spiral of violence requires US President Joe Biden’s administration to ensure that any exit strategy includes a plan for the country.

Without such planning, warns Brahma Chellaney of the New Delhi-based Center for Policy Research, a full US military withdrawal will make America an accomplice of the Taliban and trigger a rebirth of global terror.

The problem with this and other sensible demands, Council on Foreign Relations President Richard Haass pointed out last spring, is that the US weakened its leverage with the Taliban by its obvious desire to end its military presence.

But the Taliban may soon face obstacles of its own. In a 2019 commentary, Amin Saikal of the University of Western Australia doubted whether it would be able to control other armed opposition groups in Afghanistan or enlist the support of a cross-section of the country’s diverse population.

Likewise, Anne-Marie Slaughter of the think tank New America and Ashley Jackson of the Overseas Development Institute, also writing in 2019, argued that women’s rights, in Afghanistan and elsewhere, are essential to any serious efforts at conflict resolution.

In any case, Afghanistan is almost certainly facing more conflict than resolution in the coming months. As Jackson explains in a recent podcast, the lack of progress in intra-Afghan power-sharing talks reflects the government’s desire to hold onto power and the Taliban’s aim of establishing an Islamic emirate.

Faced with this prospect, notes former Kyrgyz Prime Minister Djoomart Otorbaev, Afghanistan’s Central Asian neighbors are wondering just how much it will cost them to maintain security after the US troops are gone.

Source: wefornews

Image source: wefornews

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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.