Sudanese Prime Minister Abdalla Hamdok intends to resign soon
December 27, 2021, 10:24 am

Sudanese Prime Minister Abdalla Hamdok intends to resign soon

Sudan Prime Minister Abdalla Hamdok-Abdalla Hamdok official Facebook page

The Asharq Al-Awsat reported according to reliable sources that Sudanese Prime Minister Abdalla Hamdok intends to submit his resignation within the next few days.

It said that Hamdok had previously hinted at resigning but postponed his decision in response to regional and international mediation and local pressure.

However, recent developments and the excessive use of violence by the security forces against peaceful protesters in the past days prompted him to reconsider his resignation.

A reliable source at the prime minister's office told Asharq Al-Awsat that his staff received a directive to "prepare for handover procedures" last Wednesday. They had already begun preparing the documents for the process.

The source did not disclose the exact date for the official announcement of the resignation. Still, the premier's staff began preparing for leaving pending an expected meeting between Hamdok and the Chairman of the Sovereign Council, Lt-Gen Abdel Fattah al-Burhan, and his deputy, the Commander of the Rapid Support Forces, Mohamed Hamdan Dagalo, to inform them of his intention to resign.

Last week, Reuters reported that Hamdok had told a group of national political and intellectual figures that he intends to step down. The group called on him to stay in his position, but Hamdok insisted on leaving.

At the time, sources close to the PM told Asharq Al-Awsat that he expressed his distress over the boycott by the Freedom and Change coalition, which represented the political foundation of his previous government.

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Hamdok was reinstated on Nov. 21 following a coup, led by Burhan, a month earlier that saw the military take power and end a transitional partnership with political parties.

After Burhan overthrew the transitional civilian government and declared a state of emergency, the security forces arrested Hamdok, a number of his ministers, senior officials, and political leaders in the country.

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The PM was then released to the presidential palace to sign a political agreement with Burhan, which was said to be aimed at restoring the democratic path in the country.

Hamdok said that the main reason for signing the agreement was to end bloodshed and violence against peaceful demonstrators. However, the deal was rejected by several political parties, namely the Freedom and Change, which viewed it as a betrayal of the revolution.

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The PM justified his agreement with Burhan by saying he wanted to preserve the country's unity and lead it to democratic elections at the end of the transitional period in 2023.

However, military authorities continue to suppress protesters, in a move civilians described as "a military coup and a rejection of partnership with civilians."

Source: aawsat

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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.