Fidan Ignores Damascus Regime's Crimes.. Calls for Political Framework with Opposition
Declining Turkish influence in the region pushes Turkey to seek an exit through rapprochement with Damascus and abandoning previous positions
November 3, 2024, 6:18 pm

Fidan Ignores Damascus Regime's Crimes.. Calls for Political Framework with Opposition

هاكان فيدان و علي مملوك (تعبيرية)

Turkish Foreign Minister Hakan Fidan revealed his country's aspiration towards a political framework bringing together the Syrian regime and opposition in a "conflict-free" environment, ignoring the fact that the opposition is a party to a conflict that killed hundreds of thousands of Syrians with Ankara's support.

In statements to Turkish newspaper "Hurriyet" on Sunday, Fidan claimed that "it's important for the regime to provide a safe and stable environment for its people alongside the opposition," blatantly ignoring the fact that the Syrian regime destroyed the country and displaced half its population.

The Turkish minister attempted to distinguish between "contact and dialogue" with the regime, emphasizing that "dialogue must be with the opposition," in an apparent attempt to balance Turkey's interests with its claimed support for the opposition.

Related: Moscow: Preparing for Meeting Including Foreign Ministers of Syria, Turkey, Russia, and Iran

Fidan acknowledged that "Assad and his partners are not ready to reach an agreement with the opposition and major normalization," but he didn't criticize this rigid position, merely stating "so far Assad and his partners don't seem ready to solve some problems."

The Turkish minister shifted to discussing Israeli attacks in Syria, warning against "terrorist organizations" exploiting the situation, focusing on his country's primary concern regarding Kurdish military forces that "occupy a third of Syrian territory with American support" as he claimed, forgetting that his country occupies about 10% of Syrian territory in the northwest, notably the Kurdish-majority Afrin region.

Fidan's statements coincided with Russian support for Turkish normalization with the Syrian regime, as Russian Foreign Minister Sergey Lavrov considered normalizing relations "of great importance for sustainable stability in Syria," ignoring that true stability begins with the departure of the regime's head as primarily responsible for destroying the country.

Turkey continues its efforts to approach the Syrian regime, as Erdogan previously requested Putin's mediation with Assad, in a radical shift from its previous positions where it claimed to stand against the regime's crimes.

Despite Turkey's rush toward normalization, the Syrian regime insists on the condition of Turkish forces withdrawing from northern Syria, while Ankara poses formal conditions regarding elections, constitution, and refugee return, clearly ignoring the core problem of the continued authoritarian regime in Damascus.

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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.