US will end combat mission in Iraq by end of this year
July 27, 2021, 3:51 am

US will end combat mission in Iraq by end of this year

Biden and Mustafa al-Kadhimi

The CCTV reported, citing the Xinhua that President Joe Biden said on Monday that U.S. forces in Iraq will end the combat mission by the end of the year while continuing to train and assist Iraqi forces.

Biden said at the beginning of a meeting in the Oval Office with Iraqi Prime Minister Mustafa al-Kadhimi: "Our role in Iraq will be ... continue to train, to assist, to help and to deal with ISIS (Islamic State) as it rises, but we're not going to be, by the end of the year, in a combat mission."

He added: "Our counter-terrorism cooperation will continue even as we shift to this new phase."

Al-Kadhimi told the Associated Press ahead of the visit that there is no need for any foreign combat forces staying in Iraq.

He said: "What we want from the U.S. presence in Iraq is to support our forces in training and developing their efficiency and capabilities, and in security cooperation."

There are now around 2,500 U.S. troops in Iraq. White House Press Secretary on Monday declined to provide the number of troops staying in Iraq at the end of the year.

U.S. media said the move may not lead to a significant reduction of U.S. military presence in Iraq, given most of the American troops in the country have already been taking training and advising roles for the Iraqi forces.

The two countries agreed to shift U.S. troops' mission back in April, but no timeline for the transition had been set at the time.

Analysts noted that the Iraqi leader faced mounting pressures at home from hardline Shia factions who demand all U.S. troops to leave the country. This shift in the mission of U.S. troops could be seen as a political gain for al-Kadhimi ahead of parliamentary elections in October.

The U.S. troops withdrew from Iraq in 2011, eight years after the U.S.-led invasion. U.S. troops returned to the country in 2014 to support the Iraqi forces in the fight against the Islamic State militants.

Immediately after the deaths of top Iranian general Qassem Soleimani and Iraqi militia leader Abu Mahdi al-Muhandis in a U.S. airstrike at Baghdad airport in Jan. 2020, the Iraqi parliament passed a resolution requiring the government to end the presence of foreign forces in Iraq.

Iraqi military bases housing U.S. troops across the country and the U.S. embassy in the Green Zone in central Baghdad have been frequently targeted by rocket and drone attacks from Iran-backed Shia militias.

The U.S. military launched retaliatory airstrikes against Shia militants in Syria and Iraq this February and June, only leading to a cycle of more attacks and reprisals.

Earlier this month, up to 14 rockets hit Al-Assad Air Base housing U.S.-led coalition forces in Iraq's western province of Anbar, causing two minor injuries.

Source: cctv
Image source: cctv

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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.