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Israeli annexation or Palestinian revival?

Have Donald Trump and Binyamin Netanyahu inadvertently done the Palestinians a favour? Husam Zomlot, ambassador to the UK, certainly thinks so. Trump’s “deal of the century” and Netanyahu’s closely-related plans for annexation of parts of the West Bank, are combining, Zomlot argues, to revive his people’s fading cause.
From July 1st, according to the coalition agreement between the Likud leader and Benny Gantz, of the centrist Blue and White party, application of Israeli law to parts of what they call “Judea and Samaria” will be permitted, in coordination with Washington. Mike Pompeo, Trump’s secretary of state, has clarified however, that it is up to the Israelis to decide how to proceed.
It is unclear what will actually happen. Trump’s original plan, unveiled in January, authorized Israel to annex the Jordan Valley. King Abdullah has warned of a “massive conflict” if it went ahead. Last week it was reported that Yossi Cohen, head of the Mossad intelligence service and a close Netanyahu confidante, had travelled to Amman to assure the king that it would not happen.
Other scenarios are more limited: settlements near Jerusalem – Maale Adumim is the main one – could be annexed. Gush Etzion, further south in the West Bank, is another. Annexation of those would have the advantage of appealing to the centre-right Israeli voters who back both Netanyahu and Gantz. Past peace talks with the Palestinians have been based, after all, on the principle of land swaps.
But if any annexation goes ahead it would be, by definition, unilateral. Mahmoud Abbas, the Palestinian president, rejected Trump’s plan even before it was unveiled in January. That was hardly surprising given the American leader’s brazen bias to the Israeli side: he moved the US embassy to Jerusalem, closed down the PLO mission to Washington (where Zomlot was ambassador), cut off aid to UNRWA and recognized Israel’s annexation of the Golan Heights.
The idea that on the basis of that record of hostility any Palestinian would support the plan is simply absurd. Plus the fact that David Friedman, the US ambassador to Israel, had a long record of supporting extremist settlers. Furthermore, Jared Kushner, the president’s son-in-law, shares Trump’s transactional instincts, rewarding the Palestinians for the loss of sovereignty by generous financial support.
International reactions to the Israeli threat have been overwhelmingly negative. Antonio Gutteres, the UN secretary-general, urged Netanyahu not to proceed, not only because annexation would undermine a two-state solution and infringe international law but also because it would de-stabilize an already volatile region. The UN chief was too diplomatic to name them – but Iran and Hizbullah would both benefit.
Apart from Jordan – which reportedly opposed any annexation, big or small - Arab reactions have been muted. Egypt has been strikingly silent. Still the UAE, the most advanced of the Gulf States in “below the horizon” links with Israel, has spoken out. Its ambassador to the US published an article in a mass-circulation Hebrew daily urging readers to understand that “normalization” – still a dirty word in Arabic - could not continue if annexation went ahead. Qatar, which provides financial support for Hamas in the Gaza Strip, has signaled that that would not continue.
Palestinians are understandably sceptical. Khalil Shikaki, the Ramallah-based pollster, found in his most recent survey of public opinion that annexation would not lead to serious consequences for Israel.
Still, if reports about Netanyahu’s reassuring message to King Abdullah are true, that is a sign that regional and international pressure may have succeeded – at least partially. But even more limited annexation may trigger confrontations. It could lead to the dissolution of the Palestinian Authority, or popular protests against it, or a new intifada, as the clear message of annexation is to reject commitment to negotiation. It could also lead to PLO de-recognition of Israel – one of the greatest achievements of the Oslo accords of 1993.
Netanyahu, in short, is playing with fire – and he is widely interpreted as doing so cynically to serve his own interests – in two ways: neutralize looming corruption charges and at the same time ensure his legacy as the country’s longest-serving prime minister because he “applied Israeli law” to the heart of the biblical land of Israel – and simultaneously dealt the Palestinians a blow from which they will find it hard to recover.
Unless, of course, annexation leads the world to re-focus on the Palestinian cause. Seven European members of the UN security council, including Britain, France and Germany, warned that: “acquisition of territory by force … must have commensurate consequences” and called on European leaders to “act decisively”. Other developments include changing attitudes of American Jews who recoil at the idea that Israel would become effectively an apartheid state – with different rights for the two people who live under its rule.
It is hard to be optimistic, but if Netanyahu goes too far, it may just lead to a renewed and more vigorous challenge to the status quo that has lasted since 1967. “We Palestinians are coming back,“ as Husam Zomlot predicted, “after years of marginalization.” Let’s hope he is not indulging in wishful thinking…..
IAN BLACK
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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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