IRGC navy commander says Iran has offered to do joint military drills with Qatar
September 26, 2019, 3:11 pm

IRGC navy commander says Iran has offered to do joint military drills with Qatar

Rear Admiral Alireza Tangsiri said Iran had “messaged Qatar and informed them that we can perform joint military drills with them.”

Iran has offered to hold joint military drills with Qatar, said the commander of the Islamic Revolutionary Guard Corps (IRGC) navy on Thursday, the official IRIB news agency reported.

“We have also messaged Qatar and informed them that we can perform joint military drills with them,” said Rear Admiral Alireza Tangsiri, adding that the country will also stage military drills with Iraq and Oman this year.

Tangsiri did not say if Iran had received a response from Qatar or specify the proposed date for the drills.

Tangsiri said he had previously visited Qatar, where he discussed establishing Iranian “security” in the Arabian Gulf. “In a visit to Qatar, I told a German journalist that we , with the help of regional countries, can establish lasting and stable security in the Arabian Gulf, and the presence of foreign forces in the region makes no sense,” said Tangsiri. Mehr previously reported that Tangsiri headed an Iranian delegation to Doha to take part in Middle East Naval Commanders Conference in March 2018.

Tangsiri’s claim that Iran had offered military drills with Qatar, which was published by Iranian media outlets including the IRIB and semi-official Mehr news agency, came after another Iranian official said that China, Russia, and Iran are planning a joint naval drill.

Iran’s General Staff of the Armed Forces General Ghadir Nezami Pour informed the semi-official Fars new agency on Saturday that the drill would take place in the Sea of Oman and northern Indian Ocean but did not specify when it would take place.

Qatar has increased its ties with Iran since 2016, when the Arab Quartet of Saudi Arabia, Egypt, Bahrain, and the UAE began their boycott of the island nation. Qatar has been accused of hosting members of Iran’s IRGC and funding and promoting terrorism.

The two countries have recently increased their economic ties, with Iranian exports to Qatar almost tripling and providing a lifeline for the country’s economy.

Earlier this month, Iran granted Qataris visas on arrival access, according to Mehr, citing an official source at the Qatari Foreign Ministry’s Department of Consular Affairs.

The source added that Qatari nationals can obtain a single or multiple-entry visa from Iran’s embassy in Doha, to avoid occasional delays at the arrival airport in case of crowding of passengers at the visa office there, reported Mehr.

Iranian President Hassan Rouhani has said the country is willing to cooperate with Qatar on construction projects for the 2022 FIFA World Cup, according to reports from Iran’s official IRNA news agency. Rouhani made his comments in a phone call with Qatari Emir Sheikh Tamim bin Hamad Al Thani on August 25, 2019, reported IRNA.

Missile program is a ‘red line’

Tangsiri also discussed Iran’s missile program, which he said is developing daily and is a “red line” for negotiations.

“We will not allow our country’s defense capability to be weakened,” said Tangsiri.

“Missiles are a part of our defense capability which we develop day by day. They are our red line,” he added.

Tangsiri was sanctioned by the US on June 24, along with Supreme Leader Ali Khamenei and seven other IRGC commanders, under Executive Order 13876 in response to Iran’s downing of a US drone on June 20 and its long-term promotion of terrorism in the region.

The United States last year stepped away from the 2015 Iran nuclear deal and has since put economic pressure on Tehran to try and force it to curb its nuclear program and restrain its missile program, as well as halting its support for proxy and terrorist organizations.

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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.