Erdogan threatens EU with refugee influx if criticizes Syria operation
October 10, 2019, 5:14 pm

Erdogan threatens EU with refugee influx if criticizes Syria operation

Turkish President Recep Tayyip Erdogan warned . (File photo Reuters)

Turkish President Recep Tayyip Erdogan warned the EU on Thursday that Ankara would allow millions of refugees to head to Europe if the bloc criticized Turkey’s military offensive in Syria.

“Hey EU, wake up. I say it again: if you try to frame our operation there as an invasion, our task is simple: we will open the doors and send 3.6 million migrants to you,” Erdogan said in a speech to his party.

Turkey launched an operation into Syrian territory on Wednesday, aimed at combating Kurdish militants tied to insurgents in its own territory.

Erdogan said 109 “terrorists” had been killed so far in the operation, which would soon cover ground from Manbij in northern Syria to the Iraqi border some 350 kilometers east.

“God willing, we will crush these snakes’ heads quickly,” he said.

“What we are trying to do is prevent the establishment of a terrorist state on our southern border. This cannot happen,”

Turkey currently hosts 3.6 million refugees from the eight-year conflict in Syria - the highest number in the world.

Under a 2016 agreement with the EU, Turkey agreed to prevent refugees from leaving towards Europe in exchange for six billion euros and visa-free travel for its citizens, but has frequently criticized the lack of assistance from Brussels.

“You have never been sincere,” Erdogan said, addressing the EU.

“Now they say they will withhold three billion euros from us. Have you ever kept any promise you gave us so far? No.”

One aim of the military operation is to establish a “safe zone” in which at least one million Syrian refugees can be repatriated, after the long-term presence of refugees became an increasingly political liability.

“For those who want to return to their country but don’t have a home left anymore, we plan to build settlements for one million people, with international financing,” Erdogan said.

He also sought to assuage concerns regarding Islamic State prisoners currently held by Kurdish forces.

“Those that need to be kept in jail we will keep in jail. We will return foreigners to their home countries if they accept them back,” he said.

Six people killed, 70 wounded in SDF shelling of Turkish border towns Prison holding ISIS fighters shelled by Turkey, say Kurdish-led authorities

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.