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Middle East 2020: From proxy war to Face-off confrontation

The new year came with a new surprise for the people of the Middle East, as the United States killed Iran’s most powerful military commander, Qassem Suliemani and some of his assistants. While bracing for Iran’s response, a mixture feeling of celebration and panic overwhelmed the citizens of the region, particularly those closer to Iran in Syria, Iraq and the Arab Gulf region.
After days of versing hollow threats, Iran held a huge funeral for the Mullahs’ favored notorious general, wherein more than fifty Iranians were killed, and then fired a dozen of rockets on an empty American military base in Iraq, and one of the rockets hit a civil plane and killed more than 170 people, including Iranians.
Soon after the weak and confused response from Iran, the frightened people of the Middle East dismissed the thought of anticipating a third world war; forgetting that the Middle East has already been drowning in war, for about a decade. The world powers fighting via proxies in Syria, Libya, and Yemen are already operating a covert third world war. The United States surprising attack on Iran, that left Iran and its closest allies in extreme shock and perplexity, will not put an end to this ongoing war. Rather, it will redefine the methodologies and strategies adopted by non-Middle-Eastern powerful players in managing their conflicting interests in the Middle East.
It is a turning point, wherein those international powers are expected to give up on guerilla/ proxy battles; employing terrorist militias and the so-called parallel governments against each other, to directly confront each other in an overt/ face off conflict. Due to its expensive cost, this direct confrontation is not expected to take a military form. More likely, the new overt war shall make use of political pressure and diplomatic negotiations to manage the conflicting interests of all involved parties, including not only the conflicting world powers but also the people of the countries wherein they fight.
The defeated response by Iran, the deafening silence of Qatar, the Russian expansion in Syria and Libya that forced Turkey to withdraw to a limited border area in northern Syria and retreat from military intervention in Libya, are only a few signs on the changing nature of conflict that we are going to witness in the Middle East, in 2020.This new form of relatively calmer conflict might weaken the terrorist militias sowing mayhem all over the region, today; and thus, left the immense pressure suffered by civilians in conflict-zone countries.
As the civilians get relieved from the pressure of proxy militia wars, they will turn their attention to influence long-awaited political and governance-related changes in their home countries. We may see countries, like Libya and Syria, ditching their so-called “parallel governments” and unregulated political parties, which appeared in the aftermath of the Arab Spring revolutions and intensified the internal conflicts rather than offering a solution to them, to unite under elected unified governments that could help lay the foundation for their new states. We may see countries, like Iraq and Lebanon, cleaning their governments from Iran-loyalist politicians, to replace them with more patriotic political leaders, who would make the social, political, and economic interests of their own citizens a priority. Meanwhile, political stability and national security is also expected to improve in North African countries, like Egypt and Tunisia. That may, also, lead to more stability in countries going through political transition, like Algeria and Sudan.
Yet, the most important political event to watch for, in 2020, is the Palestinian elections, should they eventually are held. The high probability of Hamas’ seizure of the government, the legislative bureau, and the Palestinian Authority, through those elections, may turn the table in favor of the terrorism-sponsoring squad of Iran, Turkey, and Qatar. Such a development will simply re-empower the militia and terrorist organizations this squad is backing and will consequently take the whole Middle East region back to where we were before, January 2nd, the day the notorious general Qassem Suliemani was killed.
Dalia Ziada - Director; Liberal Democracy Institute
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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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