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New study shows obesity costing Saudi Arabia $19 billion per year

The Arab News reported according to a new study, obesity is costing Saudi Arabia $19 billion per year, and that figure could skyrocket by 2060 if the issue is not addressed.
Published by BMJ (British Medical Journal) Global Health, the study surveyed eight countries, and found that obesity is costing the Kingdom the equivalent of 2.4 percent of its gross domestic product.
Of the countries studied, the World Obesity Federation and RTI International study found that the highest impact as a percentage of GDP is in Saudi Arabia, which has an obesity rate of around 35 percent.
It also warned that if “urgent action” is not taken, “the economic impact in Saudi Arabia is projected to rise to 4.1 percent by 2060, the equivalent of US$78 billion.”

Those costs are derived from calculations based on direct expenditures such as healthcare, as well as indirect costs, including premature mortality and absenteeism from work. It was found that indirect costs account for 65 percent of total impacts.
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The study emphasized that “social, biological and environmental drivers” impact obesity levels, so individuals are not always solely to blame for their condition.
Johanna Ralston, CEO of the World Obesity Federation, told Arab News that her organization selected Saudi Arabia as part of the study because the Kingdom has “among the highest rates of adult and child obesity in the world.”
She added: “Its large and relatively youthful population, along with its recent efforts in obesity prevention and treatments, make Saudi Arabia an interesting case as a pilot country.”
Ralston said the causes of its high obesity rates are “complex,” but “eating habits, sleeping habits and physical activity levels” are contributing factors.
These challenges, she added, are shared by most Gulf states, all of which have high obesity rates.
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Ralston lauded initiatives by the Kingdom, such as campaigns by the Saudi Sports for All Federation, which “encourage individuals to embrace healthy behaviors.”
But she said: “It’s also important, however, to not only provide the support for individuals or families who need to make changes, but also address the factors contributing to obesity that are outside the individual’s control. These include biological, genetic, sociocultural, economic and environmental factors.”
She added: “Effective prevention, treatment and management of obesity won’t be achieved by just imploring people to change their behaviors.”
At a governmental and societal level, “we must interrogate how we can support people to live healthier lives. Governments must urgently implement comprehensive policies that improve access to cheap, nutritious foods and affordable healthcare, and allow their citizens to live balanced lives free of stress and adverse events.”
Source: arabnews
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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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