Indian lawmakers vote Monday for president, likely a tribal woman
July 18, 2022, 10:03 am

Indian lawmakers vote Monday for president, likely a tribal woman

Draupadi Murmu, wearing a traditional headgear, attends an event in Mumbai on July 14, 2022. (Photo by AFP)

Indian lawmakers began voting Monday (July 18) to choose the country’s next president in an election expected to be won by a tribal woman from India’s ruling Bharatiya Janata Party, the Alarabiya English reported, citing the Associated Press.

It said that the election of Draupadi Murmu is a formality as Prime Minister Narendra Modi’s BJP controls enough seats in federal and state legislatures to push its favored candidate.

She is also likely to get the support of other regional parties in state assemblies.

The president in India is chosen by an electoral college that consists of lawmakers in both houses of Parliament and elected members of the legislative assemblies of all states.

The president’s role is largely ceremonial, but the position can be important during times of political uncertainty such as a hung Parliament, when the office assumes greater power.

The votes from Monday’s election will be counted Thursday (July 21).

The president in India is chosen by an electoral college that consists of lawmakers in both houses of Parliament and elected members of the legislative assemblies of all states (File photo: Pixabay)

Modi’s party has projected Murmu as a leader representing poor tribal communities, which generally lacks health care and education facilities in remote villages. Murmu, 64, hails from the eastern of state Odisha and previously was governor of Jharkhand state.

If elected, she will become the first tribal president and the second-ever female president of India.

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Murmu’s main opponent is a former BJP rebel, a candidate put up by a divided opposition.

Yashwant Sinha, 84, was finance minister during the previous BJP government from 1998 to 2002. He quit the party following a divergence with Modi on economic issues in 2018.

The winner will replace Ram Nath Kovind, a leader from the Dalit community, which is at the lowest end of the complex hierarchy of caste in Hinduism.

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Kovind, 76, is also a longtime associate of the Rashtriya Swayamsevak Sangh, or National Volunteer Corps, a Hindu nationalist group that has long been accused of stoking religious hatred against Muslims. He has been president since 2017.

Source: alarabiyaenglish

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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.