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Human Rights and Egypt’s Global Affairs

For days before the visit of the Egyptian President Abdel Fattah El-Sisi to France, on the sixth of December, international media and observers geared up to press the French president Emmanuel Macron into discussing one main topic with the Egyptian president. This topic is not about the joint efforts of Egypt and France on regional crises, such as the tensions in Eastern Mediterranean and the endless troubles of the Middle East and North Africa. Even, it is not about the challenges facing the world, these days, such as fighting terrorism and the health and economic consequences of the Coronavirus. Rather, the pressing topic that preoccupied the Egyptian-French summit was the status of human rights in Egypt.
"I will not place conditions on our economic and defense cooperation with Egypt because of these issues (i.e., human rights),” responded President Macron to a journalist who asked him, during his press conference with President El-Sisi, on whether France could link economic and military investments in Egypt to conditions related to improving human rights situation. "The policy of dialogue is better than the policy of boycott, which harms our ability to fight terrorism and our work for regional stability. Setting conditions will not allow progress in regional matters. Rather, it cuts off the discussion between us, and weakens one of our important allies in our war on terror and for the stability of the region, and it will not help in developing human right."
Undoubtedly, this pragmatic response by President Macron frustrated a number of those who rely on stirring up the human rights issue whenever they desire to exert a political pressure on Egypt. They include biased media and human rights organizations with links to countries that hold animosity towards the Egyptian state and President El-Sisi, personally, such as Qatar and Turkey, because of his role in discrediting the Muslim Brotherhood and overthrowing them outside the political arena of Egypt and the entire Middle East, in 2013.
In response to the same question, President El-Sisi noted that “the Egyptian state has been fighting an extremist Islamic organization that has been wreaking havoc in Egypt for over 90 years (in reference to the Muslim Brotherhood). It is not fair to label the Egyptian state as an authoritarian regime because we are fighting extremism."
Nevertheless, no one could claim that Egypt is an ideal country wherein human rights principles are fully guaranteed and respected. Egypt suffers from chronic deficiencies on this issue, mostly inherited from the long era of corruption and tyranny under Mubarak. The Egyptian state does not deny this fact and has been sincerely working, for five years, to improve human rights conditions, amidst countless political and security challenges. Despite the delay on reforming civil and political rights, Egypt witnessed a leap on improving economic, social, and cultural rights, thanks to new legislative amendments and national projects targeting improving health, housing, and security conditions, as well as protecting freedom of religion.
For the foreseeable future, human rights issues shall remain a daunting issue in Egypt’s relations with the world. However, the real obstacle which is preventing Egypt from making tangible progress on the civil and political rights agenda, is not the lack of will or lack of sincerity by the political leadership. The essence of the problem lies in the poor choices the government makes in relation to the mechanisms used and individuals entrusted with handling this extremely complicated portfolio of advancing human rights. This is what Egypt needs to fix, as a first urgent and proper step, towards improving human rights conditions.
Dalia Ziada
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BENEFIT AGM approves 10%...
- March 27, 2025
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.
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