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Lebanon in lock down as protesters demand new government

Protesters have called on the Lebanese government to resign after unpopular new tax proposals sparked two days of mass demonstrations.
The protests are of unprecedented nature in the mediterranean country, with people of all sects calling for the same demands and taking on the established political order.
One protester died in the Lebanese city of Tripoli, after the bodyguards of a former lawmaker allegedly fired at a demonstration to disperse the protesters, with local media saying that the army arrested one of the shooters.
Throughout Thursday night, protesters in Beirut’s Martyrs’ Square burned anything they could lay their hands on including advertising billboards, construction material, tires and trees.
Some protesters removed street signs and used them as battering rams against advertising units and shop fronts while young men on motorcycles dodged broken glass to feed the blaze with fresh bottles of gasoline.
The anarchic scenes in central Beirut continued throughout Friday, as young men declared that the protests would not end until the government resigned.
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“This is not the first protest in Beirut. But it could be the first step of a movement because today all the sects have come out into the streets: Muslim, Christian, Druze. We are all striking with one fist,” 28 year old Hasan from Beirut told Al Arabiya English.
People of all religious and political stripes attended the protests, unified in their anger toward the country’s precarious economic situation and widespread corruption among the political class.
Similar unrest has spread across the country, with thousands gathering in Tripoli’s main square according to videos shared on social media. Elsewhere in Beirut protesters blocked major roads and burned trash. Many Beirutis stayed at home, fearing damage to their cars and personal safety.
Anger has been building for weeks over an alleged shortage of US dollars within Lebanon’s highly dollarized economy. The unofficial exchange rate has soared above the authorized trading band of LBP 1,501-1,514 to the dollar, causing fears of bread and fuel shortages.
“Last month the dollar crisis, last week the fuel crisis and the bread crisis. The Lebanese people can no longer take it,” said Mohammed, a chef from North Lebanon’s rural Dinnieh.
Mohammed was forced to move to Beirut to find a job. He struggles to make enough money to pay rent in a city where 25 percent of apartments built since 1996 are empty.
“Now the telecommunications ministry comes out and says we are going to charge you for Whatsapp,” he continued.
At a Cabinet session Thursday, Lebanese ministers approved an unpopular per day fee for using internet-based phone calls over services like WhatsApp. The government is also considering raising value-added tax as part of the 2020 austerity budget, in an attempt to bring Lebanon’s budget deficit to 7 percent of GDP in 2020.
Lebanon has the third highest debt-to-GDP ratio in the world, at around 150 percent. International credit rating agency Fitch downgraded Lebanon’s economy in August to CCC, suggesting that the country will only be able to pay back its debts under favorable conditions.
The proposed Whatsapp tax was enough to spark nationwide protests; and yet Whatsapp and other social media platforms such as Facebook helped galvanize protesters, some of whom were as young as 15.
“It is revolution across all of Lebanon. It is not the first time it has happened, but this time it is on a bigger scale. The country is trash and the wages are rubbish,” said one bare-chested teenager.
The protests represent a major challenge to Prime Minister Saad Hariri’s government, who cancelled the scheduled Friday cabinet meeting in response to the protests. Hariri is set to speak later this evening.
Lebanon’s Progressive Socialist Party (PSP) leader Walid Joumblatt, a historical ally of Hariri, has called on his supporters to “peacefully” join the protests against the Lebanese government, advising PSP members to protest within the party’s areas to “avoid sensitivities.” Relations between the two party leaders have recently been strained, after a Twitter spat over the summer.
A common demand by demonstrators is a rerun of last year’s parliamentary elections.
“The MPs we voted to power haven’t done anything for us. I don’t have faith in a single MP… wherever there is money, they take it. Even the taxes we pay go into their pockets not into the state. If it went to the state, Lebanon would be in excellent health,” continued Mohammed.
“In the North
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BENEFIT AGM approves 10%...
- March 27, 2025
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.
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