Damascus and As Suwayda holding indirect negotiations after suspending protests
February 15, 2022, 4:07 pm

Damascus and As Suwayda holding indirect negotiations after suspending protests

Renewed protests have swept Syria’s southwestern governorate of As Suwayda/Facebook page

The Asharq Al-Awsat reported, Syria’s capital Damascus and southernmost province of As Suwayda are holding indirect negotiations after popular protests that swept the latter since last Thursday coming to a stop. Demonstrations witnessed the participation of clerics, civilians, and members of opposition factions.

As Suwayda 24 Network Director Rayan Maarouf told Asharq Al-Awsat: “Organizers of popular movements in As Suwayda suspended demonstrations after holding a massive protest in the provincial city, As Suwayda, on Friday.”

According to Maarouf, the halt in demonstrations comes to leave an opportunity for negotiations and interactions with Damascus regarding protesters’ demands.

Maarouf declined to speak of direct negotiations yet but noted that indirect negotiations are underway. He said that protest organizers, activists, and local leaderships in As-Suwayda were preparing a document of demands to present to the government in Damascus.

The paper will include local demands and reassert popular discontent against deteriorating living and economic conditions.

Hundreds took to the streets of a southern Syrian city on Friday to demand better living conditions and democracy in a rare protest inside regime-held areas/Facebook page

Maarouf revealed Damascus had made several contacts with As Suwayda to assure calm and relay the message that economic strains are nationwide.

The government blames conditions like war, sanctions and having Syria’s oil resources away from the control of the national treasury and Damascus for exacerbated economic conditions suffered by Syrians.

Hundreds took to the streets in rare southern Syria protest

Maarouf explained that since the first day of the protests in As Suwayda, the government did not provide any service enhancements, instead it continued to make pledges for improvement.

Moreover, the government sent security reinforcements to public security facilities and government buildings in the provincial city. Nevertheless, these reinforcements did not interact with the protests.

In early February 2022, a new wave of protests began in different parts of As Suwayda, expressing anger and discontent with the Syrian regime, after the latter removed subsidies for staple items for hundreds of thousands of families. According to the recent decision, the affected people have become obligated to obtain food and catering supplies at the market price.

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Later on February 6, the protests expanded and evolved from demonstrations to cutting off the main and secondary roads, including those that connect the governorate center with the capital, Damascus.

Source: aawsat

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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.