Iran says U.S. sanctioning of top diplomat 'childish' as tensions rise
August 1, 2019, 4:05 pm

Iran says U.S. sanctioning of top diplomat 'childish' as tensions rise

Iran's Foreign Minister Mohammad Javad Zarif is seen before meeting with Oman's Minister of State for Foreign Affairs Yousuf bin Alawi bin Abdullah (not pictured) in Tehran, Iran July 27, 2019-bdc1-4544-8298-1bd596f622f9

Iran accused the United States on Thursday of “childish behaviour” driven by fear after Washington imposed sanctions on its foreign minister, fanning tensions between two foes at loggerheads over Gulf shipping and Iran’s nuclear programme.

Fears of a Middle East war with global repercussions have risen since the United States ditched world powers’ 2015 nuclear deal with Iran last year and revived sanctions on Tehran.

The Islamic Republic has retaliated by resuming uranium enrichment seen in the West seen as a potential conduit to developing atomic bombs. Iran denies having any such objective.

After several attacks in May and June on oil tankers - blamed by Washington on Tehran, which denied responsibility - U.S. President Donald Trump has been trying to forge a military coalition to secure Gulf waters, though European allies have been loath to join for fear of provoking open conflict.

European parties to the nuclear pact have called for diplomacy to defuse the crisis, but Tehran and Washington have taken hard lines and on Wednesday the Trump administration slapped sanctions on Iran’s foreign minister - a likely further blow to any chances for troubleshooting dialogue.

“They (Americans) are resorting to childish behaviour... They were claiming every day ‘We want to talk, with no preconditions’...and then they sanction (our) foreign minister,” Iranian President Hassan Rouhani said on state television.

Foreign Minister Mohammad Javad Zarif, a pivotal player in the nuclear deal who was educated and lived for years in the United States, dismissed the U.S. action and said it would not affect him as he had no property or other interests in America.

U.S. AFRAID OF ZARIF’S WORDS, IRAN SAYS

“A country which believes it’s powerful and a world superpower is afraid of our foreign minister’s interviews,” Rouhani said, alluding to numerous interviews that Zarif - a fluent English speaker - gave to American media when he visited New York for a United Nations conference in July.

“When Dr Zarif gives an interview in New York, ... they (Americans) say Iran’s foreign minister is misleading our public opinion,” Rouhani said. “What happened to your claims of liberty, freedom of expression and democracy?”

U.S. Treasury Secretary Steven Mnuchin said Zarif was being sanctioned because he “implements the reckless agenda of Iran’s Supreme Leader...(We are) sending a clear message to the Iranian regime that its recent behaviour is completely unacceptable”.

In a tweet earlier on Thursday, Zarif said peace and dialogue were an “existential threat” to hawkish politicians allied with U.S. President Donald Trump who take a hardline stance against the Islamic Republic.

Zarif has in the past said that a so-called “B-team” including Trump’s national security adviser John Bolton, an ardent Iran hawk, and conservative Israeli Prime Minister Benjamin Netanyahu could goad Trump into a war with Tehran.

In repudiating the nuclear deal reached by predecessor Barack Obama, Trump said he wanted to secure a wider accord that not only limited Iran’s nuclear activity but also curbed its ballistic missile programme and reined in its support for powerful proxies in Syria, Iraq, Yemen and Lebanon.

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.