From Qatar to Libya, Turkish bases spread the devastation, and guard Erdogan's ambitions
August 23, 2019, 8:35 am

From Qatar to Libya, Turkish bases spread the devastation, and guard Erdogan's ambitions

The Libyan National Army (LNA) revealed that it has foiled a Turkish project to establish a military base in cooperation with terrorist groups in Libya, in a blow to President Tayyip Erdogan's expansionist ambitions.

This shows Ankara's efforts in military expansion in the Arab region, where Turkish military bases are deployed in several countries, in what observers see the Turkish desire to restore Erdogan's influence of the former Ottoman Empire.

Ankara's relentless pursuit of a military base in Libya, in cooperation with terrorist groups, according to the Libyan National Army, is no exception to the geographical extension of the former Ottoman Empire, which Erdogan's critics say he dreams of regaining.

Ankara appears to have resorted to the strategy of establishing military bases in the Arab countries after the arguments of humanitarian support and economic investment failed to hide Turkish expansionist ambitions in the Arab region, which is driven by a certain ideological agenda.

In the Gulf, Turkey is racing against time to open a second military base in Qatar, in addition to the first base that opened in 2016, which can receive thousands of soldiers and naval and air forces.

In Somalia, which Turkey entered in 2011 with a humanitarian cover amid the famine crisis in the country at the time, the Erdogan government spent $ 50 million to set up a military base in Mogadishu with 1,500 soldiers, while spending little on building hospitals and schools, to preserve the human appearance.

The situation would have been similar in Sudan, had it not been for the vigilance of the revolutionary partners, who thwarted Ankara's efforts on the island of Suakin, where a naval military base was being concealed behind the façade of civilian facilities, under an agreement with the Bashir regime in 2017.

However, the most blatant face of Turkish military intervention in the Arab region is evident in its neighbors Syria and Iraq, on the pretext of confronting the PKK.

The Turkish president acknowledged last year the presence of 11 Turkish military bases in Iraq, which rose to more than 15 bases today, including the base of Bashiqa, more than 140 kilometers from the Turkish border, with 2,000 troops and heavy weapons, again based on the pretext of confronting the Kurds.

In Syria, 12 observation posts in the area of de-escalation have gradually been transformed into real military bases, such as those near the town of Murek, 88 kilometers from the Turkish border, as well as bases in areas they control in cooperation with armed groups adopting a specific ideology near its border.

Turkey's insistence on extending its military arms in the region, through agreements with its ideological allies, or with the logic of force, confirms, according to observers of Turkish affairs, the fears of some of Erdogan's pursuit of his expansionist Sultanic dreams.

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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.