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in Asia

Israeli Security Cabinet Approves Ceasefire And Hostage Deal

Comfort Ampomaaby Comfort Ampomaa
January 17, 2025
Reading Time: 4 mins read
Israel's security cabinet to discuss Next Phase Of Ceasefire.

Israeli Prime Minister Benjamin Netanyahu, center, convenes his security Cabinet to vote on a ceasefire deal.

Israel’s security cabinet has approved the Gaza ceasefire and hostage release deal.

The 11 voting members of the security cabinet approved the deal with a simple majority vote.

A statement by the Israeli Prime Minister’s office said that the cabinet accepted the deal “after examining all political, security, and humanitarian aspects; and with the understanding that the proposed deal supports the achievement of the war’s goals.”

The cabinet also recommended that “the government approve the proposed outline.”

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The full, 33-member Israeli cabinet still needs to approve the agreement and will convene for a vote on the deal later in the day.

AFP 20250117 36UC7FD v1 HighRes IsraelPalestinianConflict 1737122128
Prime Minister Benjamin Netanyahu (2-R), heading a security cabinet meeting in Jerusalem on January 17, 2025.

Earlier, in a post on X, Israeli Culture Minister, Miki Zohar stated that he will vote “with a heavy heart … to bring our brothers and sisters home.”

He noted that the decision was not easy, adding that he understands the concerns of colleagues who oppose the deal.

“After studying the details of the agreement, I became convinced that Prime Minister Netanyahu and President Trump upheld the fundamental principles critical to Israel’s security, and much remains hidden from view.”

“Anyone who thinks this deal marks the end and that the final word has been spoken is mistaken. As the prime minister said, the government of Israel is committed to achieving the war’s objectives, including the dismantling of Hamas’s regime – no matter how long it takes.”

Miki Zohar

Israeli President, Isaac Herzog applauded the Israeli security cabinet’s approval of a ceasefire and hostage agreement, repeating his call to “bring all of our hostages back home.”

“I harbor no illusions — the deal will bring with it great challenges and painful, agonizing moments that we will need to overcome and face together.

“With all my heart, I embrace the families of the hostages, especially those who know that their loved ones will not return in the first stage. We must bring everyone back. Everyone! We will not rest or relent until this happens.”

Isaac Herzog

Ben Gvir Calls On Allies To Stop Ceasefire Deal

AP23270595255852 1700590116
Itamar Ben-Gvir, National Security Minister of Israel.

However, Israel’s Security Minister, Itamar Ben Gvir, has called on allies to “stop this deal” after the country’s security cabinet approved the Gaza ceasefire-hostage agreement on Friday.

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According to a statement released by his spokesperson, Ben Gvir, a member of the far-right Otzma Yehudit (Jewish Power) party, said that he had been “horrified” by a previous iteration of the deal.

The lawmaker has previously threatened to resign over the deal.

The Minister added that he was “anxious” by the prospect of Israel releasing Palestinian prisoners from the Israeli-occupied West Bank, as part of the terms of the agreement.

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“Today when more and more details are revealed, when we find out that terrorists who serve a life sentence are being released to Jerusalem, terrorists who serve a life sentence are being released to Judea and Samaria (the Israeli-occupied West Bank), when everyone knows that these terrorists will return to try to harm, will return to try to kill, I am much more anxious.”

Itamar Ben Gvir

He called on members of the Likud and Religious Zionist parties to “stop this deal.” “We can stop this deal, join me, we can stop it,” Ben-Gvir added.

READ ALSO:  Rick Ross Lauds Davido, Expresses Desire To Meet Him

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Unlike previous periods where earnings were significantly supported by impairment recoveries, CalBank's latest results demonstrate that its profitability is now being powered largely by the strength of its underlying banking business. Core Banking Business Drives Exceptional Earnings One of the biggest highlights of the first half performance was the remarkable growth in net interest income, which surged by 83 percent to GHS347.5 million. The increase came despite a relatively lower interest rate environment. Interest income rose from GHS399 million to GHS451.5 million as the bank continued expanding its earning assets. At the same time, funding costs fell sharply, with interest expenses dropping from GHS209 million to GHS104 million. This significant reduction in funding costs improved the bank's profitability and demonstrated stronger balance sheet management. CalBank also recorded exceptional growth from non interest income sources as it continued diversifying its revenue streams. 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Bad Loans Decline Dramatically One of the most remarkable achievements during the first half of the year was the dramatic improvement in asset quality. The bank's Non Performing Loan ratio dropped sharply to 10.10 percent from an exceptionally high 51.60 percent recorded at the end of June 2025. The improvement reflects the successful execution of CalBank's balance sheet remediation programme and disciplined credit risk management practices. A healthier loan portfolio reduces future credit losses while creating additional room for prudent loan growth. The significant decline in bad loans also strengthens investor confidence and enhances the bank's overall financial stability. Capital Position Strengthens After Recapitalisation Following its successful recapitalisation in 2025, CalBank has continued strengthening its financial foundation. Its Capital Adequacy Ratio improved dramatically to 18.17 percent from a negative 7.6 percent recorded a year earlier. 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