Ebrahim Raessi’s plans to solve Iran's economic problems!
June 17, 2021, 5:43 pm

Iran

While according to all Iranian and world economists , Iran's economy is in despair and collapsing so much that all economic affairs indicators show extreme instability, the presidential candidates in their election debates each make strange claims to remedy this situation. problems

Of course, according to experts, none of them are real and practical. For example, while more than a quarter of the country's youth, amounting to more than 16 million, are unemployed, Ebrahim Raessi claimed that it would be easy not only to create jobs for these young people, but also to provide them with housing so that they could get married and start a family!

He argued that while he was in charge of Astan Quds Razavi Foundation in Mashhad, he was able to solve the housing problem of several young people by building 10 blocks of buildings, and he could also build one million housing units in the first year of his term and resolve the unemployment problems of 16 million young people!

According to him, the main problem of housing is land and Iran is a vast country and there is no shortage of land. His claim was made while, according to the government officials, more than 35% of people in Iran's metropolitan areas have been driven to shantytowns in outskirts of cities due to inability to pay high rents and live-in squalid housings that lack the minimum necessities of a family.

Many attribute Ra'isi's claim to the fact that he received classical education only at the level of elementary school and then attended seminary therefore has no understanding of economic issues. problems

While inflation is currently above 50% in Iran and 80% of people live below the poverty line, and they should stand in long queues for hours to get the most basic foodstuffs like cooking oil, chicken or eggs at government rate, and thousands of production units have been shut down due to bankruptcy, and their workers have joined the ranks of the unemployed, Jobs that did not previously exist in Iran, such as dumpster diving, have become commonplace, and many have even resorted to subsistence by selling their organs such as kidneys and eyes, etc.

Without presenting any real and achievable plans, Raessi spoke of increasing production capacity and activating the maritime economy for job creation!

This situation is not only related to industrial production, but also Iranian farmers are facing an even worse situation, almost everyday news of farmers' protests is seen in different parts of the country. They protest the loss of their products due to mismanagement of water resources and artificial price control not based on supply and demand, which of course are all rooted in institutionalized corruption throughout government agencies.

Because a small number of people connected to the regime's leaders are the mafia who control the import of all industrial and food items. They use government subsidies and import goods at government exchange rate, which is one sixth of the free market, and sell goods at free market exchange rate making huge profit. They have caused market instability and the collapse of domestic industrial and agricultural production. problems

A poultry farmer says that the price he must pay to buy his chicken feed is higher than the price he earns from selling his chickens because people connected to Regime’s leaders control the chicken feed market. Other farmers were forced to abandon their onion and fruit crops because the cost of collecting and selling them was higher than similar imported products, and thus these farmers and poultry farmers not only went bankrupt but also could not even pay for expenses of their daily lives.

Another important point that demonstrates Ibrahim Raessi’s mentality is his disregard for women, who make up half of the country's population. Even in his unrealistic and empty claims about solving the economic problems of the society, he did not mention anything about the conditions of women in economic affairs or the elimination of discrimination against them.

For example, in the past year, more than 770,000 women have lost their jobs, which was 14 times more than men who have been unemployed during the same period.

He has not mentioned what role women will play in his future government either, and whether any woman minister will be in his cabinet. Of course, this is something that should not be expected, given his and other candidates’ patriarchal mentality. problems

Therefore, the majority of Iranians, especially women, have stated that they will not vote in this election at all and have boycotted it because they believe that all these candidates are the same and whoever comes to power will not change the situation in Iran. Their demand is a fundamental change and overthrow of the Velayat-e-Faqih system. They believe that this situation can only be changed by regime change.

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by: Cyrus Yaqubi

Cyrus Yaqubi is a Research Analyst and Iranian Foreign Affairs Commentator investigating the social issues and economy of the middle east countries in general and Iran in particular.

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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.