Clarifications from Jihad Makdesi on the Status of the Syrian Mission in Washington
April 7, 2025, 10:11 am

Clarifications from Jihad Makdesi on the Status of the Syrian Mission in Washington

جهاد مقدسي

Jihad Makdesi, the former spokesperson for the Syrian Ministry of Foreign Affairs, provided clarifications regarding the current status of the Syrian mission in Washington, pointing out a number of facts that warrant discussion:

- Makdesi described the U.S. action as a consular measure with a political nature, noting that the media leak regarding this issue is not entirely innocent, as it is typically considered a common practice among nations.

- He explained that this action is directed towards members of the previous delegation who were accredited to represent the Assad government, which has legally fallen and ended, and is not aimed at the new authority in Syria.

- Despite the bureaucratic complexities that the new Syrian authority may inherit as a result of any changes, there is a positive aspect in that the United States recognizes the definitive fall of the former regime by amending the political and consular status of its delegation.

- He affirmed that changing the status of diplomats is legally necessary due to the loss of their diplomatic accreditation, as there is a special committee at the United Nations that regulates the legitimacy of state representation, which necessitates classifying them into a different consular category according to U.S. laws.

- Makdesi pointed out that all diplomatic missions have recognized the new Syrian authority, and there has been no diplomatic defiance, indicating that the issue lies not in representing the new government but in the need to replace some personnel and staff.

- He also noted that the new government faces international complications and challenges but deals with them realistically, despite heavy bureaucracy and attempts to submit illogical political requests in some cases.

- Makdesi clarified that there is recognition of the new Syrian authority, although some countries have political expectations that may affect the speed of developing relations with them.

- Regarding legitimacy, he indicated that there have been no signs of a power struggle in Syria since the fall of the regime, and there are framework political agreements internally with most Syrian components that carry legitimate demands, with hopes of completing those agreements, noting that one of these agreements was under U.S. sponsorship.

- As an indicator of the return to normalcy, Makdesi referred to the restoration of the authority’s seat in the Arab League and its cooperation with international organizations, where European, Arab, and Asian embassies operate in Damascus, and Americans are practicing delegation diplomacy. He emphasized that diplomatic relations should develop through the efforts of both parties.

- In conclusion, Makdesi remarked that the internal and external challenges facing the new Syrian authority are not easy, and discussions should not be limited to issues concerning legitimacy and status in the United Nations.

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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.