President El-Sisi launches World Youth Forum in Sharm El-Sheikh city
January 10, 2022, 3:19 pm

President El-Sisi launches World Youth Forum in Sharm El-Sheikh city

Abdel Fattah El-Sisi/Shutterstock

The Arab News reported that the World Youth Forum began on Monday in Egypt with President Abdel Fattah El-Sisi launching the event in the resort city of Sharm El-Sheikh.

The forum, which continues until Jan. 13, will play host to a number of presidents, rulers and heads of government.

It serves as an international platform for influential young people from more than 190 countries around the world.

The slogan for this year’s event is “Back Together.”

Held in 2017, 2018 and 2019, the event drew more than 15,000 young men and women from 160 countries over three earlier editions.

Before the launch of this year’s event, El-Sisi received Palestinian President Mahmoud Abbas, Jordan’s Prince Hussein bin Abdullah II and Lebanon Prime Minister Najib Mikati.

El-Sisi said during the opening: “We are launching the fourth edition of the World Youth Forum, which has become a platform for dialogue and communication between young people, and a tool for exchanging visions between all the world, especially at this defining moment in human history.”

He added that humanity has “no way to overcome its challenges” except through “sincerity of intentions, the ending of conflicts, managing differences and joint action.”

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UN Secretary-General Antonio Guterres, in a speech addressing the World Youth Forum, said that the mental health crisis stemming from the pandemic has “greatly affected young people,” but that youth around the world are demanding equality, peace and justice.

Guterres added: “Young people have provided ideas and solutions that help local communities to rebuild and emerge from the pandemic in a stronger state.”

Tedros Adhanom Ghebreyesus, president of the World Health Organization, said during a recorded speech at the opening of the forum that “most of the world’s population consists of young people under the age of 30.”

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He added: “The future is in their hands, and before them are the challenges of today and tomorrow, including climate change, pollution, health and others.

“Although young people have not been affected much by the pandemic, there are sectors that have been affected, such as health, education and jobs, and therefore we have to make 2022 the year of eliminating the pandemic, directing growth and progress, achieving sustainable development goals and building young people so that they have a pivotal role in building communities.”

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The forum aims to promote youth dialogue and send a message of peace and prosperity from Egypt to the world.

The UN Commission for Social Development announced the agenda for the forum’s fourth edition, which will cover the new reality of life after the pandemic, as well as peace, creativity and development issues.

The future of energy, sustainable water security, women’s empowerment, global peace and security, and the reconstruction of post-conflict areas will also be under discussion at the forum.

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More than 500,000 people applied to take part in the event, with African youth making up the majority of applications. It was followed by Europe, Asia, North America and South America.

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.