Erdogan calls on Europe to support Turkey’s moves in Libya
January 18, 2020, 9:37 am

Erdogan calls on Europe to support Turkey’s moves in Libya

Turkish President Recep Tayyip Erdogan speaks during a press conference. (File photo AFP)

Turkish President Tayyip Erdogan has called on Europe to support its work in Libya, where it is providing military support to the UN-recognized Government of National Accord (GNA) if it wants to end the conflict there.

Erdogan made his remarks in a column published on the Politico website on Saturday, ahead of a summit in Berlin on Sunday that will try to stabilize the country.

At the meeting, Germany and the United Nations will push rival Libyan camps fighting over the capital, Tripoli, to agree to a truce and monitoring mechanism as first steps towards peace, diplomats and a draft communique said.

Turkey supports the government of Fayez al-Serraj in Tripoli and describes Khalifa Haftar, who heads the eastern Libyan National Army (LNA), as a coup plotter.

“Keeping in mind that Europe is less interested in providing military support to Libya, the obvious choice is to work with Turkey, which has already promised military assistance,” Erdogan wrote.

“We will train Libya’s security forces and help them combat terrorism, human trafficking and other serious threats against international security,” he added.

Sunday’s summit will put pressure on the LNA to halt a nine-month offensive against Tripoli after a week-long lull in fighting. But it will not try to broker power-sharing between the two sides, said diplomats briefed on preparations.

Haftar and Serraj are both dues in Berlin - along with Erdogan and the leaders of Russia, Egypt, and other Western and Arab powers. Libya has been in turmoil since the fall of Muammar Qaddafi in 2011.

Erdogan said that if Libya’s legitimate government were to fall extremist militant groups such as ISIS and al- Qaeda “will find a fertile ground to get back on their feet”.

Haftar is backed by the United Arab Emirates, Egypt, Jordan, Sudanese and Chadian fighters, and most recently Russian mercenaries. France has also given some support.

On the other side, Turkey has supported Serraj by sending troops to balance out recent gains by Russian snipers. Hundreds of pro-Turkey fighters from Syria’s war have also been deployed, diplomats say.

source: Reuters

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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.