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Arab tragedy?
The Arab Spring feels like the distant past these days. In just a few months it will be the 10th anniversary of the self-immolation of Mohammed Buazizi, a vegetable seller in the central Tunisian city of Sidi Bouzid, and there will doubtless continue to be plenty of global distractions to ensure that it will not attract the attention it deserves.
Noah Feldman’s short but thought-provoking new book, the Arab Winter*, is a timely reminder of that turbulent and exciting period – and its disappointments. It is a scholarly addition to a growing literature and focuses on key chapters: Egypt, Syria, the rise and fall of the Islamic State (Daesh) and the exceptional, if relative, success of the Tunisian revolution.
Feldman, a professor of law and Arabist at Harvard, begins by analyzing the famous slogan: “The people want the overthrow of the regime.” He looks at what constitutes “the people,” the meaning of “overthrow” and “regime” in a region shaped by Ottoman, European and American empires, as well by Arab nationalism and political Islam in the course of the last century.
He defines the Arab Spring as an historical event of first-order importance whose “significance must not be overlooked or played down simply because the exercise of political agency in Egypt and Syria later went seriously awry.” His book’s subtitle is simply: ”A Tragedy.”
Examining events in Egypt, he labels landmark developments Tahrir I and Tahrir II. The first is the overthrow of Hosni Mubarak in February 2011. The second is the overthrow of the Muslim Brotherhood’s Muhammad Morsi in July 2013. “The people spoke clearly and repeatedly,” Feldman writes, making clear that it in his view removing the democratically-elected Morsi was a mistake. “They rejected autocracy. Then they welcomed it back.”
Syria’s “tragedy” is of enormous dimensions. He attributes that to the concentration of power in the hands of the Alawite sect and the undying loyalty of the military and security services to the regime of Bashar al-Assad. He also dismisses the once fashionable notion that the president ever considered compromise and reform as way of retaining power. Instead he sought the total defeat of his rivals.
Syrian activists hoped in vain for foreign intervention, underestimating the negative impact of George Bush’s invasion of Iraq in 2003 on the Obama administration’s “middle-ground” policy. Instead they saw Russia’s Vladimir Putin – and the Islamic Republic of Iran, along with its ally/proxy Hizbullah – backing Damascus to the hilt.
The author’s personal experience of the US response to the 9/11 attacks on America is clearly relevant: in 2003 he served as senior constitutional advisor to the Coalition Provisional Authority in Iraq, where he advised members of the Iraqi Governing Council on the drafting of their interim constitution.
Feldman’s chapter on the Islamic State underscores, as he puts it, “the risks associated with trying to make political change in an uncertain world.” Those risks includes confusingly mixed messages from Washington about how far it was prepared to go. The murder and rape of thousands of innocent civilians, Yazidis and others, were perceived as collective Muslim self-defence in the name of the Salafi-Jihadi Caliphate.
“In the time of the Arab winter, “ he writes, “political Islam is now left without a noteworthy model of a state form that might actually work. As a set of ideologies, political Islam stands more discredited than at any time in the past century.” He attributes huge significance both to its failure in Egypt and the horrific atrocities committed by Daesh.
Like many foreign observers, Feldman sees Tunisia after Ben Ali as a success story. He attributes that to the Ennahda party led by Rashid Ghannouchi and offers the thought that what distinguished it from the Egyptian Muslim Brotherhood was a readiness to compromise. Tunisians succeeded because they benefitted from a robust civil society and exercised not only political agency but political responsibility – not even considering the idea of outside intervention on their behalf.
“There can be little doubt,” he writes, “that Tunisia had good fortune in having a leader of Ghannouchi’s intellect, character, and leadership, all of which were absent in the Egyptian Muslim Brotherhood and particularly in Morsi.” Still, economic reform remains limited - even with the liberal version of Islamist politics (comparable to Christian Democrats in Europe) operating in the framework of constitutional government and acknowledging that Islam alone is not the solution to everything.
Overall, Feldman believes, the events of the Arab Spring gave a sense of empowerment to the peoples who starred in its riveting but sad drama – even if they ended up failing to achieve their aspirations for change. Winter, after all, is always followed by spring - however long it takes to arrive. “It is time to recognize that the future of the Arabic-speaking world is and ought to be made by the people who live there, not from the outside,” he concludes. “Their successes and failures will, be, and must be, their own.” It is hard, whatever you think of what he has argued otherwise, to disagree with that.
* https://www.amazon.com/Arab-Winter-Tragedy-Noah-Feldman/dp/0691194920
IAN BLACK
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BENEFIT AGM approves 10%...
- March 27, 2025
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.
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