“Panaf” general: distribution of cash profits of 10% to shareholders

“Benfa”, the leading company in the field of financial technology and the service of electronic financial transactions in the Kingdom of Bahrain, held its regular public association meeting at its headquarters in the Al -Seef region, where the shareholders discussed and approved the items listed on the agenda of the meeting.

The shareholders approved the minutes of the previous public meeting held on March 26, 2024, and the report of the Board of Directors was discussed on the company’s work for the fiscal year ending December 31, 2024, where the shareholders praised the financial and administrative performance of the company, and approved the report.

The attendees heard the report of the external accounts on the unified financial statements of the company for the same fiscal year, in addition to discussing the recommendation of the Board of Directors to distribute cash dividends to shareholders at 10% of the paid -up capital.

Banfta shareholders agreed to recommend the allocation of 172,500 Bahraini dinars as a reward for the members of the Board of Directors for the year 2024, after the approval of the competent authorities.

The extension of the current membership period of the Board of Directors, consisting of ten members and one observer from the Central Bank of Bahrain, was approved for an additional six months ending in September 2025, according to the approval of the Central Bank of Bahrain.

During the meeting, the members of the Council discussed and approved the corporate governance report for the year 2024, as they confirmed the company’s compliance with the requirements of the Central Bank of Bahrain and the Ministry of Industry and Trade, and the members of the Board of Directors were discharged from responsibility for their actions during the fiscal year ending on December 31, 2024.

The recommendation of the Board of Directors was approved to reset EY as an external account reference for the company and its subsidiaries, Sanad and the Gulf of Bahrain Financial Technology for the year 2025, after the approval of the Central Bank of Bahrain and the Italing of the Board of Directors to determine their fees. The meeting also discussed the new business according to Article 207 of the Commercial Companies Law.

“We are happy with the financial results achieved by the company during the year 2024, where last year constituted a successful station in the institutional performance march, it resulted in strong results and growth indicators that reflect the effectiveness of work strategies and implementation of implementation, the growth rate reached 19%, while revenues reached 17 million Bahraini dinars (equivalent to 45.3 million US dollars), and we achieved a net profit. At a value of 2 million Bahraini dinars ($ 5.3 million).

He added: “The Board of Directors has agreed to a new strategic plan over three years and is expected to start in 2025, and we will continue to expand to global markets, with our best to take advantage of promising opportunities in global markets to enter new areas, as our internal operations will be reviewed, revenue enhancing, support for long -term sustainability, focus on digitization, innovation and other axes that will be discussed within our plan Strategy.

Al -Bastaki expressed sincere thanks and appreciation to the Central Bank of Bahrain for their support for the company “Benfa”, and to meet their tireless efforts in creating a firm regulatory environment for the banking and financial services sector, which in turn enhances Bahrain’s position as a pioneering financial center in the region, and also thanked all banks and customers of the company for their confidence, and to the shareholders for their continuous encouragement, expressing his confidence that the successes that Banft achieved in a public 2024 will pave the way for another year more distinctive and prosperous.

For his part, Mr. Abdul Wahid Al -Janahi, CEO of Banfta, said: “2024 years was another important for the company“ Benfa ”, as the company succeeded in achieving tangible progress in implementing its digital strategy across the various sectors Support the digital economy in Bahrain by providing innovative products and added services. “

He added: “Banfta has succeeded in building a strong and established network of payments, linking individuals and companies throughout Bahrain, which contributed to accelerating the footsteps of implementing new technology in the banking and financial services sector, and enhancing Bahrain’s growing position as a leading center for the development of financial technology, and that these achievements that we have achieved last year are the product of an ambitious long -term vision in building a strong electronic payment system, capable of directly contributing to creating A reliable infrastructure to support the digital economy.

Al -Janahi extended his sincere thanks and appreciation to the Chairman and members of the Board of Directors for their good directives and their continuous support, as he expressed his appreciation and gratitude to the “Banfta” employees for their sincerity, commitment and dedication to work, and to all the shareholders and relevant parties, the Central Bank of Bahrain and member banks for their support and continuous support.

“Benfa”, the leading company in the field of financial technology and the service of electronic financial transactions in the Kingdom of Bahrain, held its regular public association meeting at its headquarters in the Al -Seef region, where the shareholders discussed and approved the items listed on the agenda of the meeting.