UK nationals should not be used as political leverage by Iran, says minister
May 3, 2021, 10:23 am

UK nationals should not be used as political leverage by Iran, says minister

Richard Ratcliffe, husband of British-Iranian aid worker Nazanin Zaghari-Ratcliffe, and their daughter Gabriella outside the Iranian Embassy in London in March.

James Cleverly says ‘arbitrary’ detention of dual nationals such as Nazanin Zaghari-Ratcliffe should not be linked to other disputes

British dual nationals should not be used as “political leverage” by Iran, according to a UK minister, who pushed back on claims in Tehran that a multimillion pound debt is to be settled for Nazanin Zaghari-Ratcliffe’s release.

The renewed focus on the plight of the 42-year-old British-Iranian woman – who has been held in Iran since 2016 – continued amid some signs that Iran could be on the verge of releasing two US-Iranian nationals.

James Cleverly, whose ministerial brief covers the Middle East and north Africa, said on Monday that the “arbitrary” detention of British dual nationals including Zaghari-Ratcliffe should remain separate from ongoing legal disputes with Iran.

“We have also seen a number of occasions where the Iranian regime have used disinformation. We’re hearing inaccurate reports coming out over the last couple of days,” he said, after an Iranian state TV report said that Britain would pay a £400m debt to secure her release.

“On the one hand, they are saying that these proceedings are legitimate, we don’t agree with that at all, but then also saying that they are linked to this legal dispute – it can’t be both,” he told Sky News.

Meanwhile, it has emerged that two high-profile Iranian-American dual nationals detained in Tehran may have been moved to a different location inside their prison in a procedure that has previously led to the release of detainees.

The moves, according to sources inside Tehran’s Evin prison, had taken place despite fresh outright denials by both the Iranian foreign ministry and the US that a prisoner swap is imminent.

Iranian sources on Sunday claimed a swap had been agreed for four prisoners, and that the UK had agreed to pay an outstanding £400m debt to Iran.

Sources inside the prison said that two American-Iranians, Morad Tahbaz and Siamak Namazi, were moved to a special debriefing part of the prison. Tahbaz was moved on Saturday and Namazi on Sunday to a different bloc that had previously been used to brief prisoners that are being released, and to extract commitments.

Two other former prominent detainees, Xiyue Wang and Nizar Zakka, were moved in the same way prior to their earlier release.

Britain’s foreign secretary, Dominc Raab, moved closer on Sunday to accepting that Zaghari-Ratcliffe was being held state hostage by the Iranians when he said it was difficult to argue with that characterisation.

Raab, who said Iran’s treatment of her amounted to torture, also for the first time said her fate was now tied to not only a £400m debt that the UK government owes to Iran but also the outcome of talks in Vienna on the future of the 2015 Iran nuclear deal.

Zaghari-Ratcliffe’s husband, Richard Ratcliffe, said the family had “heard nothing” about a deal to secure her release, as hopes were raised by the suggestion that the long-running dispute had been resolved.

Cleverly told Times Radio that ongoing legal disputes with Iran should be kept separate from the “arbitrary” detention of British nationals by Iranian authorities.

“The British dual nationals, and Nazanin is one of them, held in arbitrary detention by Iran should be released.”

source: Ben Quinn

Levant

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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.