Moscow-Ankara's interests are behind the clashes between Kurds and Assad's forces
February 7, 2021, 5:26 pm

Moscow-Ankara's interests are behind the clashes between Kurds and Assad's forces

Zara saleh

In the last few weeks, the level of tensions has risen significantly between the Syrian government and Kurds.Simultaneously with the Syrian government restriction on the area of Shahba, Tell Rifat, Kurdish neighbourhoods of Ashrafia and Sheikh Maqsoud by disrupting the essential supplies such as flour, food, and fuel. The pro-Assad militia that well known as the National Defence Forces begun, behest of the regime, to attack the Kurdish security forces’checkpoint in Qamishli and Hassaka.

In response to the government forces' escalation, the Kurdish security forces started to take similar actions by surrounding the government security headquarters that so-called security squares located in the centre of Hassaka and Qamishli.The Syrian Democratic Forces control the northeast areas of Syria and there is a small presence of Assad's government in the main cities of Qamishli and Hassaka.

There is no doubt that the latest escalation was the Assad's regime policy to press the Kurds in order to gain further concessions. However, the core of the plan comes from Russia-Turkey cooperation against Kurds and to take advantage of the recent absence of the effective American role. Following the United States' withdrawal and the presidential election transitional period, Moscow is taking the role of key powerbroker in the Syrian conflict, and also attempts to play a mediation role as it happened in the latest tension.

Arguably, Moscow has repeatedly failed to be a guarantor between the SDF and the Syrian regime as they always asked Kurds to break their relationship with the US and to return back to Damascus. That is why Russia went to the second plan towards Kurds in purpose to isolate them politically simultaneously with military pressure.Moreover, Turkey's attacks on Kurds in Ain Issa with the Syrian opposition militia that started months ago was due to Russia's green light to Erdogan. When Russia- Turkey's cooperation plan failed to take control of Ain Issa town due to the Syrian Democratic Forces resistance, Moscow and Damascus moved to blockade the Kurdish civilians in the refugee camp of Shahba and two Kurdish neighborhoods in Aleppo.

Of course, Moscow, Ankara, and Damascus' secret and obvious cooperation and deals against Kurds is definitely a message to Biden's administration and its policy in northeast Syria as the main supporter for Kurds. However,the start of the third round of intra- Kurdish negotiations that backed by the United States last week, might seem like a clear American answer to Putin and Erdogan before Assad as a Biden's new strategy in Syria that will continue to support the Syrian Democratic Forces.

BY: Zara Saleh

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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.