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Protests in SE Iran are just the tip of the iceberg

The five days of protests by locals in Sistan-Baluchestan, Iran’s most impoverished province, shows how volatile Iran is.
The protests began when Iran’s Revolutionary Guards Corps created obstacles and dug large ditches on the roads to prevent the flow of fuel
to neighboring Pakistan by Baluch fuel traders. The guards shot and killed dozens of innocent, defenseless people on February 22. Facing
dire poverty, violent repression, and constant violations of their dignity, the fuel traders rebelled against the Revolutionary Guards. The
people staged a strike action on February 25 and closed their shops.
They took their anger to the streets and government offices, occupying and destroying them fearlessly, despite the Revolutionary Guards and
security and law enforcement forces’ heavy presence.
The guards fired directly at the protestors and used tear gas to disperse them. The Iranian authorities, unable to contain the protests
despite firing and killing and bringing in armored vehicles, cut off the Internet and flew helicopters over Zahedan to intimidate the protestors.
Of course, the show of anger and dissatisfaction in Sistan-Baluchestan province is just the tip of the iceberg. The state’s looting,
corruption, ignorance and mismanagement have now reached such a level that, according to regime officials, 96 percent of the poor and hungry people are several times below the poverty line on the one hand; and 4% of government officials and offices and those affiliated with Khamenei and the Revolutionary Guards, are in the possession of key monetary sources and investments in Iran.
On February 25, Mohebati, the governor of Sistan-Baluchestan, also warned that if protests turned into a revolution “all the officials
would do down together”.
After so many years of corruption, repression and mismanagement by the regime and their inability to govern, the Iranian society has reached the point of explosion. In other words, the necessary factors for massive, widespread and regime-changing protests are well in place. Even a minor and insignificant friction between the people and the government will cause a spark that can spread to other cities. The Sistan and Baluchestan protests and the November 2019 protests are testimony to this.
According to remarks made by many of the regime’s officials and analysts, the next uprising in Iran is not even comparable to those in
November 2019 or December 2018.
Mostaghel state-run daily wrote on February 23 that Iranians would use “weapons and explosives” to counter the regime in future protests. What made the Sistan and Baluchestan protests in Saravan significant was the rapid spread of protests and attacks against security forces by
angry locals.
Protesters stormed a Governor’s Office and IRGC bases and torched police vehicles.
Despite Iran’s attempt to block the Internet, the news of the unrest was spread widely and was accompanied by widespread popular support
throughout Iran.
Other neighboring cities, including Iranshahr, Zahedanand Khash staged their own strikes, closed their shops in support of Saravan.
Amateur video from the Saravan showed that protesters fought with security forces empty-handed and were not afraid of bullets shot back at them. The recent Sistan and Baluchestan protests send a clear message to Iran’s Supreme Leader Ali Khamenei. In the 1979 revolution against the Shah, the protests reached a point when every shot fired by the military and the Shah’s army, led to more anger and protests which eventually led to the overthrow of the Pahlavi dictatorship. This will happen again in Iran.
By Cyrus Yaqubi
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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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