Larijani Concludes Syria Tour... Discusses Israeli Threats to Damascus
Choosing Larijani as Iranian Supreme Leader's Special Envoy Reflects Current Phase's Sensitivity and Importance of Tehran's Message Amid Regional Escalation
November 19, 2024, 6:50 pm

Larijani Concludes Syria Tour... Discusses Israeli Threats to Damascus

علي لاريجاني

The Iranian Supreme Leader's envoy and former Iranian Parliament Speaker, Ali Larijani, completed his diplomatic tour in Syria and Lebanon, returning to Tehran yesterday evening.

The diplomatic mission's importance emerged following Israeli threats to Syrian regime leader Bashar al-Assad, with Larijani being chosen as Supreme Leader Ali Khamenei's special envoy.

The tour included first visiting Syria, followed by Lebanon, aiming to deliver Iran's "political-security" message, according to the Farsi-speaking website "Ruidad 24."

The website revealed Larijani held important meetings, including two meetings with Syrian regime leader Bashar al-Assad and Lebanese Parliament Speaker Nabih Berri.

Former Iranian Foreign Ministry diplomat, Abdul Reza Faraji Rad, stated that Larijani's message remains undisclosed, but its gravity was evident in Larijani's specific selection as messenger, speaking to the same website.

Faraji Rad noted ongoing negotiations involving Russia and the United States, despite escalating confrontations in Lebanon.

He explained that Israel threatened Syria and reportedly demanded closing Syria-Lebanon crossings used for Syrian aid to Lebanon, prompting an Israeli representative to visit Moscow, apparently requesting Russians pressure Assad to stop this aid.

Faraji Rad outlined Larijani's visit objectives, including conveying Tehran's message and assessing Syria's position.

In Lebanon, Larijani began discussions with officials about the ongoing peace process, confirming Iran's support for Lebanese government positions calling for immediate ceasefire.

Responding to Najib Mikati's statements denying Iran's right to intervene in Lebanese affairs, Faraji Rad clarified that Tehran doesn't intend to interfere in Lebanon's internal affairs, only supporting Hezbollah.

He added that Iran doesn't seek to undermine Lebanese government decisions but supports and harmonizes with them. Faraji Rad emphasized this visit "primarily focuses on achieving peace," adding that Tehran seeks to assess the seriousness of Israeli threats to Syria.

He explained Larijani's selection to deliver the message due to his position as Iranian Supreme Leader's advisor, noting this isn't Larijani's first mission, having previously visited China with the Supreme Leader's message to the Chinese leader. Similarly, former Foreign Minister and Supreme Leader's advisor Ali Akbar Velayati previously held this role.

Notably, Syrian regime leader Bashar al-Assad continues his "self-distancing" policy despite ongoing escalation in Lebanon and repeated Israeli strikes on Syria, making no significant comment on Lebanon events since his condolence message to Lebanese Hezbollah following Secretary-General Hassan Nasrallah's death in late September.

Nevertheless, Israel recently threatened to attack any attempts to transfer weapons to Lebanese Hezbollah from Syria. Israel has been conducting strikes on Iran-linked targets in Syria for years but has intensified these raids since the Israeli war on Gaza began.

Levant-Agencies

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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.