NGOs urge ASEAN to include ousted Myanmar lawmakers in upcoming crisis summit
April 23, 2021, 8:25 am

NGOs urge ASEAN to include ousted Myanmar lawmakers in upcoming crisis summit

Migrants protesting against the military junta in Myanmar hold pictures of leader Aung San Suu Kyi, during a candlelight vigil at a Buddhist temple in Bangkok, Thailand, March 28, 2021. (Reuters)

A grouping of 45 Southeast Asian non-governmental organizations has urged regional leaders to include Myanmar lawmakers ousted by the military to attend a summit on Saturday to discuss the turmoil in that country.

The Association of Southeast Asian Nations (ASEAN) summit is to be held in Jakarta, Indonesia. Myanmar’s junta chief, who ousted the civilian government on Feb. 1, is likely to attend, diplomats and officials in the host nation have said.

ASEAN leaders will not be able to achieve anything at this summit to solve the current crisis without consulting and negotiating with the rightful representatives of the peoples of Myanmar,” the NGOs said in a letter published on social media.

They said the invitation to junta chief General Min Aung Hlaing to attend the summit “provides legitimacy...to the genocidal slaughter being committed by the military regime against its own citizens and people”.

The meeting is the first concerted international effort to ease the crisis in Myanmar, where security forces have killed hundreds of pro-democracy protesters since the February coup. It is also a test for ASEAN, which traditionally does not interfere in the internal affairs of a member state and operates by consensus.

ASEAN’s members include Myanmar, Brunei, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

Myanmar’s military has shown no sign of wanting to talk to members of the government it ousted, accusing some of them of treason, which is punishable by death.

The foreign minister of China, Myanmar’s giant neighbour and which many protesters say supports the junta, said he hoped the summit would pave the way for a “soft landing”.

China is not a member of ASEAN, but is included in an ASEAN Plus Three grouping, along with Japan and South Korea. It was not immediately clear whether China will be attending Saturday’s meeting in Jakarta.

“China will maintain close communication with ASEAN, and continue to handle any work related to Myanmar in its own way,” said China’s State Councillor Wang Yi, who is also foreign minister.

Last week, Myanmar’s pro-democracy politicians, including ousted members of parliament, announced the formation of a National Unity Government that nominally includes deposed leader Aung San Suu Kyi, who has been in detention since the coup, as well as leaders of the protests and ethnic minorities.

The Assistance Association for Political Prisoners, a Myanmar activist group, says 739 people have been killed by security forces since the coup and 3,300 people are in detention.

source: Reuters

Image source: 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.