Iran aims to further bolster its nuclear arsenal, German intelligence agency finds
April 27, 2021, 9:00 am

Iran aims to further bolster its nuclear arsenal, German intelligence agency finds

This file handout satellite image provided by Maxar Technologies on January 28, 2020, shows an overview of Iran's Natanz nuclear facility, south of the capital Tehran. (AFP)

Iran was strengthening its nuclear arsenal in 2020 by bolstering its weapons production whilst misleading the world by claiming the nature of their activities were peaceful, a new German intelligence report found.

Germany’s government security agency, the Bavarian Office for the Protection of the Constitution, issued the report, which has been translated from German by The Washington Free Beacon, news platform.

The study stated that Iran had been working to expand its “conventional arsenal of weapons through the production or constant modernization of weapons of mass destruction.”

The report by Germany’s equivalent of the FBI indicated that Tehran looked to establish relations with German contacts that were involved in the high-tech field, “in order to obtain the necessary know-how and corresponding components,” in an effort to skirt the sanctions imposed on them and fulfil their nuclear production goals.

Iran has claimed that the nature of its nuclear program is peaceful and has demanded that the US lift the reimposed sanctions which were enforced after former president Donald Trump left the nuclear deal in 2015, Bloomberg reported on Sunday.

Iran’s Deputy Foreign Minister Abbas Araghchi said on Sunday that the sequencing of the US’s return to the accord and Tehran implementing full compliance with its terms will not involve a “step by step format and will be in line with the Islamic Republic’s demands”, according to Bloomberg.

Crucial multilateral talks involving both countries are taking place in Vienna this week to address this.

US President Biden has expressed that he might be willing to relax the sanctions imposed on Tehran as part of a new nuclear deal, but has not yet taken action to do so. Iran has long been skirting sanctions to obtain the fuel needed for its nuclear program and has previously run operations against the sanctions imposed on them for its oil trade, a key revenue source for the country, Free Beacon reported.

Iran last week began enriching uranium to 60 percent purity in an effort to show its technical capacity, saying that the move was reversible, Reuters reported last week. Iran was previously enriching uranium to 20 percent purity and the 2015 nuclear deal had capped Tehran’s enrichment level to 3.67 percent.

The investigation concluded that Germany remained the focus of “intelligence activities,” for Iran.

“Information from foreign and security policy as well as business and science,” is applicable to other nations the report suggested, noting that Syria, North Korea and Pakistan had been engaging in similar activities.

source: Tala Michel Issa

Image source: AFP

Levant

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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.