Palestine Liberation Organization to choose top negotiator after death of Saeb Erekat
February 4, 2022, 8:22 am

Palestine Liberation Organization to choose top negotiator after death of Saeb Erekat

Saeb Erekat, was PLO secretary-general and had been deeply involved for decades in the now moribund peace talks with Israel. He died in 2020 from coronavirus complications/Facebook page

The Arab News reported, accoding to the AFP, the Palestine Liberation Organization meets on Sunday to elect key leadership figures tasked with keeping up the struggle for statehood, at a gathering which may hint at a potential successor for President Mahmoud Abbas.

The most important post up for grabs is that of the late chief negotiator Saeb Erekat, who was PLO secretary-general and had been deeply involved for decades in the now moribund peace talks with Israel. He died in 2020 from coronavirus complications.

Once the undisputed champion of the Palestinian cause, the PLO has lost much of its relevance since the 1994 establishment of the Palestinian Authority.

PLO Chairman Abbas, who is also the PA president, is 86 years old and has seen support dive to historic lows in opinion polls, accused of autocracy in rare West Bank street protests last year.

Palestinians have not been to the ballot box for 16 years, and their aspirations for a two-state solution are strongly rejected by Israel’s right-wing nationalist Prime Minister Naftali Bennett.

Violence flares almost daily in the occupied West Bank, and the coastal enclave of Gaza is still recovering from another devastating war with Israel last year.

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Against this backdrop, the PLO meeting in Ramallah will seek to fill key posts in the movement that was founded in 1964 and bills itself as the sole representative of all Palestinians.

Also open is the position of high-profile official Hanan Ashrawi, who resigned more than a year ago from the 18-member executive committee, the PLO’s top decision-making body.

Abbas confidante Hussein Al-Sheikh, the PA’s civil affairs minister, is widely tipped to take over Erekat’s seat and chief negotiator role.

He is also among those seen as Abbas’s possible successors.

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Other contenders are Prime Minister Mohammad Shtayyeh and Marwan Barghouti, who is currently in an Israeli prison over his role in planning attacks and whom supporters describe as the Palestinian Nelson Mandela.

Khaled Elgindy, a senior fellow at the Middle East Institute, said: “Sheikh is a person that Israelis seem to hold in high regard. Certainly the Americans do."

“Others feel that he’s the kind of guy that they can work with. So in the near term, it seems like it makes a lot of sense.”

A veteran of Abbas’s Fatah movement, Sheikh has cultivated ties with foreign diplomats and with Israel, and met with Foreign Minister Yair Lapid last month.

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Bennett’s coalition government has ruled out formal peace talks with the Palestinians but has said it wants to deepen economic cooperation with the PA to improve livelihoods in the West Bank.

Elgindy said: “It does look like Abu Mazen (Abbas) is sort of preparing the ground for a future succession process.”

“I’m just not sure that the actual succession process is going to unfold according to his wishes.”

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.