Mohammed Khalil

It seems that the disappointments that hit Iran and its allies in Iraq in recent months have pushed Tehran towards adopting a new tactic to confront the United States on Iraqi soil. Iranian Tactic in Iraq

On the political level, Iran and its allies failed to impose their candidate to be the Prime Minister of Iraq, as Muhammad Allawi was unable to form a cabinet and submitted his resignation.

Likewise, the new candidate Adnan Al-Zurfi does not win the acceptance of these political forces, as five parliamentary blocs close to Iran announced their rejection of the way in which Al-Zurfi was appointed Prime Minister, although this refusal alone does not give Al-Zurfi legitimacy from the point of view of the Iraqi demonstrators, however it cannot be neglected that his appointment was a setback for the political forces close to Iran, even partially.

Another major disappointment for Iran and its allies was the extreme failure to implement the decision to expel American forces from Iraq. Although Iran put all its weight in the Iraqi parliament to take this decision, but no one was able to implement it, on the contrary, Washington faced that decision firmly, and announced that its forces will remain in Iraq.

With the same level of firmness, the United States has responded to all military attempts by pro-Iranian armed factions to strike at American forces. The American response has inflicted painful losses on the factions that attacked the American military bases, specifically the Iraqi Hezbollah group.

The operations carried out by these armed factions put the Iraqi state in an embarrassing position since these factions are part of the Popular Mobilization Forces that are formally considered part of the Iraqi armed forces, which caused more political losses for Iran in Iraq. Iranian Tactic in Iraq

Because of these developments, it seems that Tehran has decided to change its tactics regarding the US confrontation in Iraq. The basis of this new tactic is to form new and unknown armed groups to conduct military operations against US interests and bases in Iraq, the Usbat Al Thaierin (Revolutionaries) is an example of this.

Regardless of whether these armed groups are really new, or they are the same groups with new names, or even splinter groups from the existing forces, what is important here is that they do not officially belong to the PMF, and therefore they have no responsibility towards the Iraqi state. This means that the Iraqi state will not be able to exert any pressure or authority on these new groups, which will reduce the political cost resulting from the operations carried out by these groups against the Americans.

This new tactic reminds us of the period in which pro-Iranian armed groups arose in 2005 and which were considered new in that period. These groups were a direct reason for Iraq to enter a sectarian civil war. Consequently, this new Iranian tactic may open the door again to the potential for major civil conflicts in Iraq, and it will again enter Iraq in a cycle of instability and polarization. levant

By: Mohammed Khalil levant

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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.