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Elections and Internal Crisis in Iran

The recent parliamentary elections in Iran have gained special significance for several considerations, as it is the first election that took place after a series of protests against government economic policies that have swept many cities and regions in Iran and which the security services have faced with a violent reaction. Also, it is also the first elections that took place after The American administration ended its commitment to the Iranian nuclear agreement, as well as the first elections that took place after killing the Iranian military leader Qassim Soleimani by the United States and the escalation of tension that followed between the two countries.
Many observers view these elections as an indication of the direction of Iranian domestic and foreign policies, with a great sense of lack of optimism that positive changes occurred internally or externally, with the reality of the Iranian authorities preventing thousands of candidates affiliated with the reformist movement from running, and with the low turnout in the elections, this led to almost absolute control of the hard-line current over Parliament, and thus confirmation of the continuation of the hard-line approach led by this current internally and externally.
What can be concluded directly from the results of these elections is the continuation of the strict approach in dealing with any popular protests in the Iran, the conservative current and its tools on the ground will not allow the development of these protests in any way. The protests are considered, from the viewpoint of many observers, the real threat to the stability of the regime in Tehran.
The Iranian foreign policy is not expected to change much with the election results. This policy may become more stringent in dealing with issues related to the nuclear file, but in general we cannot expect a major change in Iranian foreign policies, both on diplomatic or military levels.
Conservative control and the continuation of the same approach to foreign policy does not necessarily imply a blocked horizon for reaching understandings between Tehran and regional and international powers, led by the United States, and although the two countries are currently fighting a non-classic war on various tracks, the recent history of US President Donald Trump’s administration tells us that the man is ready to make deals in unexpected times and circumstances, and we have in agreement with the North Korean regime as well as with the Taliban in Afghanistan, clear examples of the way the White House resident thinks.
Once again, the manner in which these elections were held confirms that the fundamental crisis in Iran is an internal crisis, and that all measures that have been taken, especially with regard to depriving thousands of reformists from running, are indications of a real internal crisis, this crisis is linked primarily to the economic and social files.
By: Mohammed Khalil
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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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