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Saudi Arabia reiterates its readiness to mediate in the Ukrainian crisis

The Asharq Al-Awast reported, the Saudi government reiterated on Tuesday the Kingdom's readiness to mediate between all parties in the Ukrainian crisis.
Custodian of the Two Holy Mosques King Salman bin Abdulaziz chaired the cabinet meeting that was held in Riyadh.
The ministers highlighted the telephone talks Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, held with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy.
During the telephone calls, Crown Prince Mohammed stressed the Kingdom's support for all efforts that would help de-escalate the tensions and all international efforts aimed at reaching a political solution to the conflict.
The cabinet was briefed on the talks held between King Salman and Bahrain's King Hamad bin Isa Al Thani, who had paid a visit to the Kingdom last week.
They reviewed the visit paid by the President of Cyprus, Nicos Anastasiades, to the Kingdom and the talks he held with Crown Prince Mohammed.

They highlighted the interview Crown Prince Mohammed gave to The Atlantic last week, in which he underscored the major reforms and modernization underway in Saudi Arabia in line with Vision 2030.
The cabinet tackled the meeting of the Arab Interior Ministers that was held in Tunisia and Saudi Arabia's stressing of the importance of cooperation and intensifying joint coordination to preserve the security and stability of the region.
Saudi and French foreign ministers agree on funding humanitarian projects for Lebanon
It underlined the Strategy of the Custodian of The Two Holy Mosques Scholarship Program that was announced by Crown Prince Mohammed on Monday.
The Strategy marks the beginning of a new era in the scholarship program that will contribute to improving the citizens’ competitiveness through upskilling the human capital in new and promising sectors to fulfill the needs of the future labor market. The Strategy is part of the Kingdom’s efforts to develop human capabilities and achieve the objectives of Vision 2030.
Russia announces ceasefire, opens humanitarian corridors in Ukraine on March 7
The government noted the Kingdom's lifting of all coronavirus-related restrictions on Saturday, saying it reflects the success of national efforts to combat the virus.
Source: aawsat
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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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