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Is Qatar Abandoning the Muslim Brotherhood?

On his first visit to Cairo, after six years of diplomatic tensions and media wars, the Qatari Prince, Tamim Bin Hamad Al-Thani, made sure to congratulate his Egyptian counterpart, President Abdel Fattah El-Sisi, on the June 30th anniversary. The kind diplomatic gesture by the Qatari ruler, who is known for his substantial support to the agenda of political Islamism in the region, is raising a lot of questions about the future of the Muslim Brotherhood group, if Qatar eventually decides to abandon it, in compliance to the demands of its neighbor Arab states, especially in the Gulf region.
The June 30th anniversary represents two significant events for the current Egyptian state. Initially, it is the day, in 2013, when the Egyptian people rallied nation-wide to protest the rule of the Muslim Brotherhood regime and call upon the military institution to take over. After three days of protesting, the Egyptian Armed Forces, under the leadership of El-Sisi, who served then as minister of defense, had to respond to people calls by forcing the Muslim Brotherhood regime out of power.
On this same day, one year later, in 2014, an overwhelming majority of Egyptians elected El-Sisi to become the new president of the state, in reward to his historic role in ridding Egypt of the Muslim Brotherhood rule. The people, also, thought that he is the best candidate that can lead the country through an economic renaissance, while making sure it remains protected against the vengeful acts of violence that the Muslim Brotherhood members organized and committed between 2013-2015, against Coptic Christian citizens, policemen, and state facilities, allegedly with generous funding from Qatar.
Most of the leaders of the Muslim Brotherhood, who fled Egypt after the June 30th revolution, were welcomed mainly in three cities: Doha, Istanbul, and London. From there, they organized themselves into independent civil organizations; some of them claimed being representatives of the Egyptian political opposition, while others called themselves defenders of human rights in Egypt. They roamed the western forums, from Washington to Brussels and Geneva, with the goal to lobby the international community to treat Egypt as a politically and economically secluded country.
Sadly, several reports by local and international observers have referred to Qatar as the main sponsor and financier of the Muslim Brotherhood activities in that regard. In fact, Qatar-owned Al-Jazeera TV was among the first media outlets, worldwide, to promote that the June 30th uprising was a coup d’état. For years, the Qatari prominent media platform turned into an open stage for promoting the claims of the Muslim Brotherhood leaders, in the diaspora, about the Egyptian state. Qatar has, also, been funding some media outlets that the Muslim Brotherhood and their sympathizers were running from Istanbul and London to attack the Egyptian state and president.
Ultimately, Egypt alongside Saudi Arabia, the United Arab Emirates (UAE), and Bahrain formed an Arab quartet to fight against the Muslim Brotherhood and its sponsors, especially in Qatar and Turkey. The Turkish president, Recep Tayyip Erdogan, was also one of the strong supporters of the Muslim Brotherhood, to the extent that he explicitly attacked and threatened to punish the current Egyptian president, on their behalf. That caused a deep political rift between Turkey and Egypt that has not been resolved up till this day.
One of the most shocking actions that the Arab quartet had to take to control the Muslim Brotherhood, at that time, was to announce a diplomatic boycott of Qatar, in May 2017, unless it abstains from supporting the Muslim Brotherhood and shuts down Al-Jazeera. The Arab boycott of Qatar, which was latter labeled as the ‘Gulf Crisis’ continued for four years, until the Saudi Crown Prince, Mohammed Bin Salman, took the initiative to reconcile and unite Arabs, by signing Al-Ula declaration, in Saudi Arabia, in January 2021.
Since then, the relationship between Qatar and all of its Arab neighbors, especially Egypt, has been steadily improving. Qatar has not only returned to pour huge investments in the Egyptian tourism and natural gas markets, but it also stopped funding the Istanbul-based media outlets of the Muslim Brotherhood. In coordination, the Turkish government took serious steps to prevent the Egyptian affiliates and sympathizers of the Muslim Brotherhood, living on its land, from attacking the Egyptian state, either via traditional or social media platforms.
Obviously, Qatar, Egypt, and all the other Arab countries are keen to restore stability to the region, especially during the unjustified withdrawal of the United States Administration of President Biden from the Middle East. In the process, the countries of the region are growing more pragmatic and strategic in managing their intra-affairs. Qatar’s Prince, despite his relatively young age, is one of the craftiest leaders, when it comes to setting long-term strategies and appropriately following them to a successful end result.
In that sense, should we assume that Prince Tamim is making an overall change to his strategy of supporting political Islamist activities against established regimes in neighbor Arab countries. Or, is it only a partial modification to Qatar’s existing strategy, in preparation for Biden’s prospected visit to the region, in mid-July?
Let me be optimistic and assume that Prince Tamim is already changing his strategy, in good will, to a new one that prioritizes cooperation, rather than conflict, with his Arab neighbors. That new approach, in addition to his already successful relationships with Turkey and Iran, should guarantee making Qatar, in a positive way, one of the most influential countries of the Middle East.
BY: Dalia Ziada
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BENEFIT AGM approves 10%...
- March 27, 2025
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.
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