GCC Jewish communities form regional alliance; plan to establish Jewish court
February 15, 2021, 11:57 am

GCC Jewish communities form regional alliance; plan to establish Jewish court

A candle holder used during the Jewish festival of Hannukah, is seen during the visit of an Israeli delegation to the Jewish Community Synagogue of Bahrain, in Manama, Bahrain October 18, 2020. (File photo:Reuters)

Local Jewish communities of Saudi Arabia, the United Arab Emirates Bahrain, Kuwait, Oman, and Qatar have come together to form the Association of Gulf Jewish Communities (AGJC), with plans to establish the region’s first Jewish court.

The AGJC is a network of the Jewish communities from the GCC countries who are developing Jewish life in the region, Rabbi Dr Elie Abadie, the association’s spiritual leader, told Al Arabiya English.

“While each community is independent, they share a common goal and vision: for Jewish life in the GCC to flourish for the benefit of both residents and visitors,” said Dr Abadie, based in Dubai.

The Association’s board consists of members from all six Gulf countries, who together will plan the path forward for the GCC Jewish community. The number of Jewish residents and tourists in the region is expected to grow following the signing of the historic Abraham Accords.

“We recognized that there is a big Jewish community in UAE and a moderate-sized one in Bahrain, and smaller individual communities in the other GCC countries and we wanted an association to give these communities a sense of unity,” said Rabbi Abadie.

The UAE and Bahrain officially normalized relations with Israel at a signing ceremony at the US White House last September.

Bahrain’s Foreign Minister Abdullatif Al Zayani, Israel's Prime Minister Benjamin Netanyahu and United Arab Emirates (UAE) Foreign Minister Abdullah bin Zayed display their copies of signed agreements while U.S. President Donald Trump looks on as they participate in the signing ceremony of the Abraham Accords

The agreements “will serve as the foundation for a comprehensive peace across the entire region,” former US President Donald Trump said at the time.

“The Jewish communities of the GCC is only going to grow given the historic openness that is taking place,” Rabbi Abadie said.

“The Gulf nations have been very supportive of the growth in Jewish life but as more people move in and come to visit, we must tend to their educational, cultural, spiritual, and religious needs by establishing programs and institutions to service these increased needs,” he added.

Rabbi Abadie said the group aims to not just serve the Jewish communities of residents in GCC countries, but also the increased number of tourists from Israel following the Accord.

“We want to serve the future Jewish tourists to help show a sense of unity and provide a range of services – be that religious advice, spiritual leadership, making sure Kosher products are available, and so on.”

The AGJC network will be led by President Ebrahim Dawood Nonoo, based in Bahrain, with the aim of the six GCC nations partnering on different communal programs and services so that their resources will enhance each other.

The Beth Din of Arabia (Jewish Court) is in the process of being established to assist with issues of personal status, inheritance, and voluntary business dispute resolutions in the region.

“The Jewish religious court is what oversees marriages, divorces, adoptions, if necessary, family disputes, or even business disputes. It is about providing a jurisdiction for those of Jewish faith,” said Rabbi Abadie.

Also in undergoing establishment is the Arabian Kosher Certification Agency, an organization which will oversee kashrut (kosher certification) regionally using the same set of standards throughout all six Gulf countries, thereby making it easier for Jewish individuals to live in or travel around the Gulf.

Rabbi Abadie said there are up to 1,000 Jewish people living in the UAE, predominately based in Dubai. A few hundred live in Saudi Arabia, while another 100 are in Bahrain. A “handful” more live in Oman, Qatar and Kuwait.

The flags of UAE and Israel (File photo: Reuters)

Given this time of peace and interfaith and tolerance, we expect an avalanche more members of the Jewish community coming to live and visit the GCC,” said Rabbi Abadie.

“The embrace and welcome among the nations has been exhilarating for us – a dream come true … I anticipate the Jewish community will grow significantly here in the era of tolerance.”

Nonoo said every GCC community of Jewish people have much to offer each other.

“While maintaining our independence, this new association allows us to pool our resources to the betterment of all Jewish people in the Gulf,” Nonoo said.

“While our Jewish community has been part of the fabric of Bahrain society for over a hundred years, we appreciate the needs of some of the smaller or newer communities in the region and believe we can help them flourish and navigate growth in this part of the world.”

source: Jennifer Bell

Image source: Reuters

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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.