How Erdogan has become the world's "the elephant in the room"?
September 11, 2020, 7:00 am

zara saleh

In recent years, under Erdogan's presidency, Turkey has become authoritarian and more nationalist country. This has been more obvious especially in the aftermath of the 2016 coup attempt, when President Erdogan started to impose an emergency law against its opposition. Consequently, he imprisoned thousands of civilians, military commanders, journalists, judges, politics, Kurdish members of parliament and local councils. He, arguably, pushed the country from so-called secularism into ideological religious example with neo-Ottoman dream and ambition. More seriously, Erdogan is trying to appear as a devout Muslim in his decision that to turn Hagia Sophia from museum into a mosque.

Besides that, Turkey as a NATO member since 1952, has become "the elephant in the room" for NATO at the first when started to confront its principles and values by purchasing of a Russian antiaircraft system, the S-400. That had happened despite the American and another NATO’s members warning. Moreover, NATO's plan for the defence of Poland and the Baltic countries that border Russia, has been blocked by Erdogan AKP's party for long time, due to the Turkey's demand from NATO to list the Kurdish forces, the Syrian Democratic Forces, as a terrorist organisation.

Added To that, Erdogan's warships has confronted the French frigate, while the EU has a plan for the conflict in Libya to support enforce the arms embargo there, and that could undermine the European Union's mission for peace and political solution in Libya.

However, the increasing tension in Mediterranean Sea has become a fact after Turkey has sent its research vessel with warships to disputed water area between Greece and Cyprus, which could led to direct confrontation with Athena due to Erdogan provocation. Consequently, the eastern Mediterranean turn into maritime hot spot because Turkey has repeatedly carried out warship-escorted offshore drilling in the territory. That is why the French President has described the NATO and the US role and presence in the region has "disappeared over time, or in any case, largely been withdrawn”.

Emmanuel Macron has blamed Turkey in the recent Mediterranean crisis as "Turkey’s return to the region as an imperial power fantasising about its history" he said. More seriously, Turkish government and Erdogan has repeatedly declared that they would cease controlling its land and sea borders with Europe and open the passage for Syrian migrants wishing to cross. This threaten has been a fact several time despite the European Union and Turkey's deal in 2016 to prevent migrants from illegally entering Europe. The EU fund for Turkey to help the nearly 4 million Syrian refugees was around six milliard euro, while Erdogan's threats to Europe could be seen as a tool to pressure the EU and international community into supporting Ankara’s recent military involvement in the Syrian conflict to occupy more territories in north part of Syria and in particular the Kurdish region.

In the long run, Erdogan is running the risk of further souring its relations with the EU by this type of threatening that using the refugee’s card. That means, in the fact, Ankara is threatening the EU to open its borders for thousands of jihadists and members of ISIS and Al-Qaeda Front who lives in Turkey or trying to cross the Syrian borders with Turkey and to return to Europe. Furthermore, after Turkish military presence and intervention in Libya, it has been opened another border for immigrants and terrorists to enter the EU via Libyan territories.

In other words, the whole Middle East as a region with east Mediterranean countries and other places of neo-Ottoman ambition of interventions, Turkey under Erdogan's leadership has become a threat for the stability in the world. It has become a real "elephant in the room" not only for NATO members, but for Europe and whole region as well that require finally real actions by the US and its NATO's allies.

Zara Saleh

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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.