Six European countries push to ease sanctions on Syria... Brussels links it to protection of minorities
The EU's efforts to ease sanctions show a genuine desire to support democratic transition in Syria, conditional on guaranteeing the rights of all components of Syrian society
January 13, 2025, 7:21 pm

Six European countries push to ease sanctions on Syria... Brussels links it to protection of minorities

الجولاني في استقبال وزيري خارجية فرنسا وألمانيا \ متداولة

While the European Union prepares to discuss lifting sanctions on Syria at a meeting in Brussels at the end of January, this issue remains the main focus of attention.

Al Arabiya/Al Hadath's correspondent in Brussels revealed today, Monday, citing informed sources, that six European countries are leading the call to ease sanctions imposed on Syria, including Germany, France, Netherlands, Spain, Finland, and Denmark.

The discussion about easing sanctions during the EU foreign ministers' meeting covered transport, oil, gas sectors, and some banking activities. Sources indicated that this decision is linked to implementing measures ensuring respect for minority and women's rights.

It has become virtually certain that the easing of sanctions will be announced at the EU foreign ministers' meeting on Monday, January 27, 2025, where European diplomats noted that the decision to ease sanctions is based on the results of the Riyadh conference and talks with Damascus.

Diplomats confirmed that the EU will maintain the sanctions option to incentivize reforms in Syria.

Previously, EU Foreign Policy Chief Kaja Kallas, during her meeting with Syrian Foreign Minister Asaad Al-Shaibani yesterday Sunday on the sidelines of the Riyadh conference, reviewed the necessary requirements for proceeding with sanctions relief.

She stated in a brief statement via X platform that "the new administration must now launch a peaceful and inclusive transition process that protects all minorities," adding "afterward, EU foreign ministers will discuss how to ease sanctions."

Syria faces several crucial files including easing Western sanctions, restricting weapons to state control, addressing the armed factions issue, organizing a national dialogue conference, drafting a new constitution, and preparing for elections.

Western friendly powers, including the United States and the European Union, had imposed sanctions on the previous regime's government due to its handling of peaceful protests in 2011, while the toll of the conflict that lasted for more than 13 years exceeded half a million deaths, with destruction of economic infrastructure and displacement of millions from their homes.

Levant-Agencies

Appointment of Nawal Salam as Head of the Lebanese Government ISIS Detainees.. Efforts to Return Thousands of Iraqis from Eastern Syria to Their Country

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.