176 Victims Since the Escalation in Lebanon.. Calls to Protect Syrian Refugees
The increasing number of Syrian victims in Lebanon points to the worsening humanitarian crisis for refugees, who find themselves caught between the fires of regional conflict and inability to return t
October 7, 2024, 2:46 am

176 Victims Since the Escalation in Lebanon.. Calls to Protect Syrian Refugees

مخيمات اللاجئين السوريين في لبنان/ تعبيرية

Five Syrian citizens lost their lives in the past 24 hours as a result of Israeli strikes on Lebanon, according to the Syrian Observatory for Human Rights. This brings the total number of Syrian victims in Lebanon since the start of the Israeli escalation on September 21 to 176 people, including 33 women and 46 children.

The Syrian Observatory for Human Rights strongly condemned these attacks targeting civilians, calling on the international community and humanitarian organizations to urgently intervene to protect the population, including Syrian refugees. The Observatory also demanded the provision of safe corridors for residents to flee from targeted areas, in addition to providing necessary humanitarian assistance to affected families.

The Observatory emphasized that Syrian refugees in Lebanon have no connection to Lebanese Hezbollah, stressing that they are merely refugees and workers seeking safety after the war in Syria forced them to leave their homes.

The Observatory called for facilitating the return of those who do not fear arrest to their areas in Syria, with the need to secure safe passages for those who cannot guarantee their safety in areas outside the control of the Syrian regime.

The total number of Syrian victims in Lebanon since the beginning of the Israeli war on Gaza has risen to 207 people, including 36 women and 50 children, in addition to 21 others injured.

Statistics indicate that the victims were distributed over the past months, with a large number concentrated in September and October. The causes of deaths varied between air raids and missile shelling, targeting different areas in Lebanon, including the southern suburbs of Beirut and areas in southern Lebanon.

This escalation comes at a time when Syrian refugees in Lebanon face increasing humanitarian challenges, finding themselves caught between the risks of ongoing conflict and the difficulty of returning to their country. This situation highlights the urgent need for effective international intervention to protect civilians and find sustainable solutions to the worsening Syrian refugee crisis amid ongoing regional turmoil.

Levant-Syrian Observatory

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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.