Kurds Are Among Winners Of Israel-UAE Peace Agreement
August 30, 2020, 12:53 am

Kurds Are Among Winners Of Israel-UAE Peace Agreement

Jwan Dibo

Kurds are considered one of the beneficiaries of the recent Israeli-Emirati peace agreement.At first glance, this conclusion might seem bizarre and does not make sense. But after scrutinyand analysis, it can be argued that the Kurds are one of the winners of the recent Israel-UAE peace treaty.

Firstly, the peace accord has happened between two countries that deemed as friends of Kurds and strong supporters of the establishment of an independent Kurdish state.

This supportive stance by both states was very clear during the independence referendum for Kurdistan region of Iraq in September 2017.

Secondly, this new peace pact between UAE and Israel is another sort of regional alignment in the context of the emergence of regional axes.

The axis of moderation represented by UAE, Israel, Egypt and Saudi Arabia versus the axis of extremism, aggression and interference in others’ affairs represented by Turkey, Iran, Qatar and their local agents. Since the main problem of the Kurds is with Turkey and Iran, the countries which oppress Kurds and prevent them from obtaining their rights, so Kurds are classified within the first axis.

Thirdly, the peace truce between Israel and UAE helps to reduce the intensity and level of the populist and racist discourse throughout the region. This, in turn, will positively affect the general public views of Arab, Turkish and Persian peoples towardsthe Kurdish question in the Middle East.

This peace agreement will place the Kurdish issue in the Middle East, as a whole and partly, into the regional leverage game. Thus, the Kurds will gain more presence and influence at the regional and international levels. This will happen because the Israeli-Emirati peace

agreement is on the opposite side of Turkey-Iran axis. These both countries are regarded as enemies of the Kurds and deprive them from gaining their legitimate rights, whether inside or outside their borders. Consequently, any real support will be provided by UAE and Israel

to the Kurds in the future, politically or on the ground, will positively impact the role and future of the Kurds in the entire Middle East. In contrast, this will negatively affect the influence of the Turkish-Iranian bloc.It is true that, in politics, there are no permanent enemies, no permanent friends, there are only permanent interests. However, since the Turkish-Iranian axis poses an existential threat

to Israel and UAE, therefore, their dealing with the Kurds from now onwards will be on a strategic basis, not only from a tactical perspective.

It is not a secret that Israel and UAE in the Middle East are the most supporters of the establishment of an independent Kurdistan. That is not only because of the affection for the Kurds, but because the interests of both states require the formation of an independent Kurdish state. For Israel, the formation of a Kurdish state will change the regional balance of power in its favour.

At the same time, that will be on contrary to the interests of Turkey and Iran. This, also, applies to UAE, especially with regard to its fear of the greed of its terrifying neighbour, that is, Iran. In return, what is required of Kurdish leaders in all parts of Kurdistan, especially in Iraqi Kurdistan and Syrian Kurdistan, is positive interaction with the consequences of this agreement and preparation for what may emerge from it at the regional and Kurdish levels.

by : Jwan Dibo

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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.