Survey shows over 90 pct of Saudi youth see US as a strong ally of their nation
July 15, 2022, 12:02 pm

Survey shows over 90 pct of Saudi youth see US as a strong ally of their nation

Saudi Arabia and the United States flags. (Stock photo)

A survey revealed ahead of US President Joe Biden’s high-profile visit to the Kingdom, more than nine in ten young Saudis, who form about two-thirds of Saudi Arabia’s population, see the US as an ally of their nation.

This finding from the 13th edition of the annual ASDA’A BCW Arab Youth Survey was announced on Friday ahead of the historic visit where Biden will hold meetings with Saudi Arabia’s King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman, along with other government officials, and which is expected to enhance the historic and strategic partnership between the two nations.

According to the survey, the perception that the US is an ally of Saudi Arabia is at its highest level in five years.

In 2020, 87 percent of Saudi youth viewed the US as a ‘strong ally’ or ‘somewhat of an ally,’ an increase in favorability over 2019 when 70 percent of Saudi youth viewed the US as an ally. In 2018, 50 percent of Saudi youth viewed the US as an ally.

Al Qurayyah beach in Khobar, Saudi Arabia (Pixabay)

The symbolism of Biden’s arrival in the Kingdom, following his first official visit to Israel, will not be lost on young Saudis, three-quarters (75 percent) of whom believe addressing the ‘Palestinian-Israeli conflict’ should be a top priority for the Arab world.

Despite the broadly positive perception of Biden, young Saudi men and women believe he has work to do on the Palestine-Israel question, with 93 percent insisting his administration “should have a played a more active and unbiased role in resolving the conflict.”

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A majority of young Saudis (73 percent) are confident that the conflict is ‘very likely’ to ‘somewhat likely’ to be resolved in the next five years.

Sunil John, the founder of ASDA’A BCW, said: “The findings from our survey reflect the optimism surrounding Biden’s first visit to the Kingdom as the US president.

The generally warm feelings young people have towards US, and their eagerness for peace across the region, especially in resolving the Palestinian conflict, show the value to be had from a reset of US-Saudi relations to achieve a more stable and stronger Middle East geopolitical order.”

Underlining the strategic role of the US in the region, over one-third (36 percent) of young Saudis believe the US has the most influence in the Arab world among non-Arab nations, compared with 43 percent of Saudi youth who say their own country is the most influential among Arab nations in the region.

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Over two-thirds of young Saudis (63 percent) are also confident that their country’s relations with the US will improve under Biden, while the rest (37 percent) believe relations between the two countries will remain the same.

Almost all young Saudis (97 percent) are confident that their country is going in the right direction; 82 percent agreed with the statement that ‘our best days are ahead of us.’

Source: alarabiyaenglish

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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.