UK warship commander says Iran trying ‘to test’ Britain in Gulf
July 31, 2019, 9:15 am

UK warship commander says Iran trying ‘to test’ Britain in Gulf

The commander of a British warship accompanying UK-flagged ships through the Strait of Hormuz said that Tehran appeared to be testing the Britain’s resolve. (AFP)

The commander of a British warship accompanying UK-flagged ships through the Strait of Hormuz amid heightened tensions with Iran said Wednesday that Tehran appeared to be testing the Royal Navy’s resolve.

William King, commander of HMS Montrose, said during 27 days patrolling the flashpoint entrance to the Gulf he had had 85 “interactions with Iranian forces”, which had often led to “an exchange of warnings” over radio.

“That gives you some idea of the intensity... (it) is perhaps more than we’ve seen of recent times,” he told BBC Radio in a phone interview from aboard the frigate.

“The Iranians seem to be keen to test our resolve, test our reactions most of the time,” King added.

“They’ll claim that perhaps our presence is illegitimate, even though we’re completely lawfully in international waters.

“They may also run boats in at speed towards us, to test what warning levels we get to.”

Montrose, on a three-year deployment in the region since April based at a British naval hub opened in Bahrain last year, began the escorts through the world’s busiest oil shipping lane earlier this month.

It followed Iranian threats of retribution for Royal Marines helping Gibraltar - a British Overseas Territory - seize one of its tankers on July 4 on suspicion it was carrying oil to Syria in violation of EU sanctions.

Despite Montrose’s presence in the Gulf, Iran intercepted the British-flagged tanker “Stena Impero” on July 19 as it made its way through the strait and has detained the ship at an Iranian port.

Britain on Monday ruled out swapping the tankers, and has proposed the formation of a European-led naval escort mission for global shipping through the Strait of Hormuz.

It comes as US President Donald Trump exerts a “maximum pressure” campaign of economic sanctions and stepped-up military presence aimed at forcing Tehran to renegotiate a landmark 2015 nuclear pact he pulled out of last year.

However, amid the escalating tensions King said contact with Iran remained “professional” and “cordial” on the choppy waters of the Gulf.

“There’s a healthy understanding, shall I say a respect between mariners, which now seems to be established,” he added.

Montrose will return to port later this week for pre-planned maintenance and crew changeover, and will be replaced by HMS Duncan, a destroyer which arrived in the region on Sunday.

AFP, London

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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.