Hezbollah erects statue of Soleimani while Lebanon is dismantled
January 12, 2021, 12:27 pm

Hezbollah erects statue of Soleimani while Lebanon is dismantled

Posters of slain Iranian Revolutionary Guard Gen. Qassem Soleimani are placed on chairs as supporters of Hezbollah leader Sayyed Hassan Nasrallah gather for his televised speech in a southern suburb of Beirut, Lebanon, Sunday, Jan. 5, 2020 following the U.S. airstrike in Iraq that killed Soleimani. The posters read: Sayyad of martyrs in the axis of resistance. The martyr Hajj Qassem Soleimani. (File photo: AP)

Travelers to Lebanon are not shocked by the soaring number of COVID-19 cases. Nor, will the plastered images of Iranian commander Qassem Soleimani lining the airport highway into Beirut cause surprise. The ride into the capital gives an ominous impression of instead, arriving in Tehran, and the feeling that the people belong to the Iranian state.

Recent statements from Amir Ali Hajizadeh, commander of the Islamic Revolutionary Guards’ Corp (IRGC) Aerospace Force support this. He affirmed that, “all the missile capabilities of Gaza and Lebanon have been supported by Iran, and they are the front line for confrontation.”Iran, through its Lebanese proxy Hezbollah, has been slowly chiseling away at what remains of Lebanon’s sovereignty. Attacking Iran will bring repercussions, for Lebanon and the international community, it fears Israel and the US, and its narrative says Hezbollah would retaliate almost immediately, making Lebanon a first-strike deterrence missile base for Iran.

Flowers lie around a portrait of Iranian Major-General Qassem Soleimani, who was killed in an airstrike near Baghdad, at the Iranian embassy's fence in Minsk, Belarus January 10, 2020. (File photo: Reuters)

Running its own black economy, and using the Lebanon’s dwindling resources, Hezbollah’s involvement in the fighting in Syria, Iraq, Yemen and beyond has placed tremendous pressure on Lebanon, exacerbated by Arab Gulf neighbors no longer willing to bankroll its failing economy.

Iran’s sabre rattling are preemptive moves designed to avoid military escalation. Preventing the outgoing Trump administration from taking any rash military actions against them is their mission, and this includes their many proxies in the region.

It is no coincidence that Iran’s war of words marks the anniversary of the killing of its top enforcer Qassem Soleimani, and his top Iraqi aid Abu Mehdi al-Mohandas which, despite repeated threats, Iran has yet to avenge. Iran’s fears are clearly visible from Hezbollah secretary-general Hassan Nasrallah’s recent speech underscoring that, “The resistance front will always be respecting and glorifying its martyrs. Iran will take military revenge by itself. It has strength and ability as well as power to defend and does not need any proxies. The friends of Iran will take their own decisions if they want to respond to this crime.”

However, the friends of Iran, be it in Lebanon or Iraq, will find themselves in a pickle when positioned as forward defense bases. This will prove costly with President-elect Joe Biden taking office in a few weeks. Despite its formidable militia setup, Hezbollah does not the capacity to engage Israel in an open war.

US President-elect Joe Biden speaks as he announces members of economics and jobs team at his transition headquarters in Wilmington, Delaware. (File photo: Reuters)

As the Biden administration will re-engage with Iran on the nuclear deal, it will certainly not turn a blind eye on the destructive role the country’s militia across the region has caused. Nasrallah has repeatedly tried to brand Lebanon as an anti-western nation, bent on destroying the US.

Given that Iran and its proxies cannot destroy, nor threaten the US they have turned instead to bullying nations they occupy.

In Lebanon and Iraq’s case this includes polluting and desecrating its public spaces with hideous, badly crafted murals, and statues of Soleimani and their militiamen who perished in pursuit of Iran’s expansionist scheme. Denounced and ridiculed by the public for their lack of aesthetic appeal, underneath the proclaimed art reveals Iran’s attempt to compensate for its lack of inaction.

source: Makram Rabah

Image source: AP

Levant

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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.