Erdogan's Boundless Greed in North Syria
December 15, 2020, 8:10 am

Erdogan's Boundless Greed in North Syria

Jwan Dibo

Nowadays, Erdogan's greediness is directed to invade the town of Ain Issa in northern Syria. If Erdogan succeeds in his current endeavours, he will later head to the cities of Kobane and Manbij. The goal behind this is to undermine legitimate Kurdish aspirations within the new coveted Syria, the federal and decentralised state.

For several months, Turkish forces and their affiliated Syrian factions have shelled different sites controlled by Kurdish-led Syrian Democratic Forces (SDF) around the town of Ain Issa. The purpose is to launch a new incursion against SDF and to take over the administrative capital of the Kurdish-led self-administration of north and east Syria.

Turkey’s president strives to take advantages of the remainder days of Trump’s time in the White House to attack SDF and to eliminate its administration. There are two fundamental reasons behind Erdogan’s intention to perpetrate another assault against the Kurds in Syria. The first reason is Trump’s previous-proven indifference about the destiny of Kurds and SDF. The second is Erdogan’s sensation that U.S President-elect, Joe Biden, will kerb his aggressive and colonial agendas in Syria, Iraq, Libya and eastern Mediterranean. Thus, Erdogan appears to be in a race against time.

Another factor that encourages Erdogan to launch a new offensive against Kurds in Syria is Turkey’s multi-involvements in many hot areas in the world alongside Russia. This, in turn, helps Erdogan to bargain with Russia over many pending issues inside and outside Syria. Subsequently, to sign dishonourable deals with Russia at the expense of the Syrians in general and the Kurds in particular. On this basis, many reports recently referred to some Turkish military withdrawals from several points around the city of Idlib. These military moves have done in the context of some concealed understandings between Russia and Turkey about many reciprocal issues including the town of Ain Issa.

However, so far, winds blow counter to what Erdogan's ships desire. The lucrative game playing by Turkey on the chord of Russian-American discrepancies in Syria seems to be reaching to an end. furthermore, American and Russia's use of Turkey against each other in Syria is approaching the end because Turkey has become a real threat against the interests of both superpowers in Syria and elsewhere.

For these reasons and others, Russia asked the U.S-backed Kurdish-led SDF to fully withdraw from the town of Ain Issa and to hand over the whole area to Al-Assad regime control. But after SDF rejected Russia’s proposal, then, Russian officials signed an agreement with SDF a few days ago that allowed Russian army to set up three military positions around Ain Issa to halt shelling from Turkish-controlled side.

On December 9, former special envoy for Syria, James Jeffrey, explained to Al-Monitor that Russia does not want an expanded and prolonged Turkish military presence in north and northeast Syria. Seemingly, this point will constitute a common ground between Russia and U.S during Biden’s presidency. Meanwhile, the ongoing Turkish threats to launch new assaults against SDF push Kurds to seek help from Russia. This, in turn, strengthens Russia’s presence in Kurdish-controlled areas.

Russia’s recent military prevalence in the town of Ain Issa might stop Turkey’s greediness for a while. However, it is unlikely to prevent Erdogan from doing everything in the future in order to weaken the Autonomous Administration of North and East Syria and its military wing, viz., SDF. Turkey considers the Kurdish-led Syrian Democratic Forces (SDF) to be linked to the Kurdistan Workers' Party (PKK), which Turkey classifies it as a terrorist group.

The issue of protecting the town of Ain Issa in northern Syria from a possible Turkish invasion will form the first challenge for President-elect Biden with respect to the Syrian dilemma. It is also possible that there will be better coordination between Russia and U.S during Biden's era aiming to curtail Turkey's malign role in Syria and in the entire region. This, in turn, will benefit the Kurds in Syria and safeguard them from Turkey’s terrorisation at least for the present and for the foreseeable future.

By: Jwan Dibo

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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.