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Can Iran’s presidential elections save Khamenei and his regime?

On the first day of Persian New Year of 1400 (March 21st), the Supreme Leader of the Iranian regime, Ali Khamenei, devoted the most important part of his Nowruz speech to Iran’s presidential elections scheduled to be held in June. During the last 32 years that Khamenei has ruled Iran as the supreme leader, eight presidential elections have been held.
In 2009, President Ahmadinejad was re-elected due to widespread fraud on Khamenei’s orders which led to major protests across Iran. The regime responded with lethal force, killing protesters.
Since the 2017 nationwide protests, Iranians have actively expressed their hatred towards both factions, the hardliners, and the so-called reformists, and have called for regime change. So why are Iran’s presidential elections so important to Khamenei?
The Iranian regime is in its weakest state since the 1979 revolution that brought down the Shah. Even according to regime officials, more than 70 million people in Iran are dissatisfied with the current situation and want fundamental change in the ruling system. The economic and living conditions of Iranians have deteriorated during the last 42 years with more than 60% of the population living below the poverty line. The middle class has disappeared and nearly 35 million people have been driven to the outskirts of cities due to poverty and inability to pay for housing. Many workers have not received even their meager wages for months. Inflation in the food sector has reached over 60% in almost all provinces of Iran, and as a result, many people have long removed items such as meat and fruits from their food baskets and even buy bread in installments.
Searching in the trash, selling body parts, and even selling children, which has no precedent in Iran, has become commonplace. Addiction and suicide rates have reached unprecedented levels, especially among young people in lower classes. Iranians who overthrew the Shah in hope of freedom and a better life are now facing oppression, and dictatorship on the one hand, and poverty, misery, and rampant corruption on the other.
As a result, the society has turned into a powder keg ready to explode at any moment with a little spark. The nationwide protests that took place in 2017 and 2019 in Iran are manifestations of this fact. Although Khamenei was able to eventually stop the protests and prevent the downfall of his regime with brutal crack downs at the time, it is unlikely he would be able to control and suppress future protests.
Despite his power over everything in the regime including his title as Commander-in-Chief and his absolute sway over the Judiciary, Khamenei has always claimed innocence when it comes to the people’s misfortunes. He has always blamed the government and the President for the people’s plight.
But now the situation is so dire that there is a feud betwee
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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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