Saudi Crown Prince: We agree with the Biden administration on 90 pct of issues
April 28, 2021, 9:09 am

Saudi Crown Prince: We agree with the Biden administration on 90 pct of issues

The Crown Prince spent the last portion of his nearly 1.5-hour interview focusing on his foreign policy doctrine and the future of the Yemeni conflict. (Supplied)

Saudi Arabia’s Crown Prince Mohammed bin Salman said the Kingdom’s government agreed with the current US administration under President Joe Biden on 90 percent of issues but the sides are working together to find common ground on their disagreements.

“Like every family, brothers do not agree 100 percent on all issues and matters. This is similar when it comes to governments.

The difference, of course, between the American administrations the margin of difference may increase or decrease but we are in agreement throughout 90 percent of the policy of President Biden and we hope to enhance it one way or another,” Crown Prince Mohammed bin Salman said.

“The last was our adherence to the new group that has important objectives for clean energy and environment. Saudi Arabia was one of the countries that joined, And for the things we have some differences with them, about 10 percent, we try to neutralize the risk and reach an understanding about them,” he added.

The Crown Prince appeared on the Liwan Al Mudaifer Show to discuss developments in Saudi Arabia’s ambitious Vision 2030 plan. It marked the fifth anniversary of the plan, which aims to transform the Kingdom and prepare it for a post-hydrocarbon age.

The Crown Prince spent the last portion of his nearly one-and-a-half-hour interview focusing on his foreign policy doctrine and the future of the Yemeni conflict.

When asked to define his main foreign policy doctrine, the Crown Prince simply answered: “Our foreign policy interest is that of Saudi Arabia’s interests.”

The Crown Prince also spoke of his plans to find a political solution to the Yemeni conflict, saying that the Kingdom would not reject the presence of the Iran-backed Houthi militia at the negotiating table.

“While there is no doubt that the Houthis have a close relationship with the Iranian regime, there is no doubt that the Houthis are Arabs at the end of the day, and it is inevitable that they will have to work with their brothers to end this conflict,” the Crown Prince said.

Biden’s first foreign policy moves included halting support for what he called “offensive operations” in Yemen while simultaneously freezing arms sales to Saudi Arabia and removing the Houthis from Washington’s terror list.

The Biden administration also removed senior Houthi officials, including its leader, Abdel-Malek al-Houthi, from the Specially Designated Global Terrorist (SDGT) list.

The White House said it wanted to “recalibrate” its relationship with Riyadh, while US military officials continued to voice support for Saudi Arabia and the importance of bilateral ties.

As for the Yemen war, Biden appointed a special envoy and vowed to double down on diplomatic efforts to help reach a solution. Since being appointed by Biden, Special Envoy Tim Lenderking has continuously criticized the Houthis for escalating their military offensive on Marib and refusing to engage in constructive efforts to end the yearslong war.

Saudi Arabia, meanwhile, has distributed millions of dollars in aid to Yemen and increased its fuel shipments across the country.

source: Joseph Haboush

Levant

Pakistan sees record one-day COVID-19 deaths, government consider stricter lockdowns Zarif’s leaked recording aimed to create ‘discord’ during Iran nuclear talks: Rouhani

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.