Leading charity says UK aid cuts will close down hundreds more Syrian schools
May 5, 2022, 2:14 pm

Leading charity says UK aid cuts will close down hundreds more Syrian schools

Westminster Bridge in London, England (File photo: Pixabay)

The Arab News reported, a leading charity has warned that British aid cuts will lead to the closure of hundreds more Syrian schools, with 40,000 children already having fallen out of education as a result of the move.

UK funding for 133 schools run by Syria Relief ended on April 30 as the government “rushed” through a £4.2 billion ($5.3 billion) cut in foreign aid spending that slashed Britain’s total commitment from 0.7 to 0.5 percent of gross national income.

Jessica Adams, head of communications for the charity, told The Guardian: “If funds are not found the plug the gap, a generation of children in northern Syria will be out of school."

“This will lead to a close-to-immediate rise in child labour, child marriage, early pregnancies, child conscription to military and armed groups, and child exploitation and trafficking.

UK funding for 133 schools run by Syria Relief ended on April 30. (File/AFP)

“This was a political choice we, children, parents and teachers hope desperately will be reversed.”

Syria Relief had been the largest non-government provider of schools in the country, at one point operating 306 schools.

But donors have reduced their spend or shifted their focus to Ukraine, leaving the charity with just 24 remaining schools supporting 3,600 children.

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UK cuts hit Syria hard, removing 69 percent of aid, which the charity said would push more girls into early marriages rather than Britain’s “stated goal” of helping them into school.

Abu Halid, whose children are at school in Mahmoodli displacement camp in northern Syria, told The Guardian: “If this school closes, we’ll have to send them to schools that ask for money, but we don’t have money, not even for rent, so we need the school to stay open.”

Syria Relief said camp schools are overcrowded, lack electricity or heating, and already-high rates of child labor and early marriages will increase with more school closures.

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Joyce Msuya, assistant secretary-general for the UN Office for the Coordination of Humanitarian Affairs, told the Security Council last week that an estimated 14.6 million Syrians are in need of humanitarian aid, with 2.4 million children out of school in the country.

She added: “Unless we significantly scale up our support, even more are at risk of dropping out. Rapid and substantial investments are now required to help us break the vicious cycle.”

Source: arabnews

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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.