The Amazon Rainforest and the Ozone Hole
November 30, 2024, 2:46 pm

The Amazon Rainforest and the Ozone Hole

باسل كويفي

The Amazon rainforest is considered the "lungs of the world," with the Amazon River flowing through it, making it the largest tropical forest on Earth. It plays a significant role in stabilizing the global climate, as it absorbs vast amounts of carbon dioxide that contributes to climate change. However, deforestation and burning have somewhat degraded it. The rainforest also plays a vital role in regulating the Earth's climate and maintaining global biodiversity, housing various species of insects and more than two thousand types of birds and mammals, thus providing essential ecosystem services for humanity.

At the same time, the risks posed by harmful substances that deplete the ozone layer lead to the creation of an ozone hole, allowing ultraviolet rays to directly strike the Earth, threatening human life and health and severely harming most animals, plants, and their ecosystems. Human industrial activities, along with the technologies developed for fossil fuel extraction, chemicals, and fierce economic and military competition, have resulted in excessive usage in civilian and military industries that release toxic gases, leading to climatic and environmental disasters through a hole in the ozone layer.

The approach may be closer to reality by transitioning from the global environmental and climatic state to the regional and global political, geopolitical, and military context, where security and peace represent the stability and progress of the world, while wars and conflicts are akin to a black hole threatening human and biological life across our planet.

The Israeli war in Palestine, Lebanon, and Syria has created an unannounced mutual interest and alliance between Hayat Tahrir al-Sham, armed factions, and Turkey on one side, and multiple regional and international interests on the other. Will the ceasefire agreement in Lebanon and the implementation of UN Resolution 1701 hold amidst the ongoing war on Gaza? How can the advances of Israel, which the UN and major powers have been unable to stop, be curbed, as we witness serious escalation in Syria and nuclear tensions between Russia and NATO in Europe?

In my view, the region and the world are at a pre-preparatory stage for significant settlements involving various military and security escalations. Within these frameworks, major powers demonstrate little interest in humanitarian and moral details.

In this context, Hayat Tahrir al-Sham and Turkish-backed forces launched an operation they called "Deterring Aggression" in Aleppo, Idlib, and its countryside, with the stated goal of returning displaced Syrians to their towns. However, the true objectives of the operation appear to be expanding Turkey's influence and control over regions, ensuring these parties have sway in the future political landscape of Syria, and pressuring the Syrian army and the Syrian Democratic Forces (SDF) in northeastern Syria.

It is worth noting that the United States classifies Hayat Tahrir al-Sham as a terrorist organization, and these attacks may represent a renewed attempt to reshape the balance of power for negotiation ahead of January 22, 2025, when President Trump’s administration will commence, along with its electoral promises.

At the same time, Turkey is seeking to pressure the Syrian government to normalize relations based on Ankara's vision, while Russia, engaged in Ukraine, which the West has permitted to target Russian depth with missiles, has limited itself to Kremlin statements warning against "attacks on Syria's sovereignty." Iran is negotiating the nuclear file in Europe, likely with conditions to limit its influence in the region, and various international and regional actors, including Israel, Turkey, the United States, France, and other Western countries, seek to achieve broader political goals, including sidelining Syria from playing a political role in Lebanon to implement their agendas. This highlights the complexity of the regional and international scene, where it is clear that Israel stands to benefit the most (as part of a strategy to neutralize threats), a strategy initiated by Netanyahu since the war in Gaza.

Even before the war in Syria, reliance on the implementation of international resolutions was limited, as it requires deep agreements that transcend contradictions and international conflicts to build a new framework for global governance. Given its geographical and geopolitical position, Syria has become a regional and international battlefield, and a Syrian-Syrian dialogue applying UN Security Council Resolution 2254 may be the only internationally agreed-upon exit from the bottleneck, amid the ongoing conflict worldwide.

Peace, security, and stability represent humanity's desire for the continuity of life, while wars and conflicts are the black hole that threatens our planet.

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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.