Russia is using Erdogan’s threats to blackmail Kurds
December 22, 2020, 7:05 am

Russia is using Erdogan’s threats to blackmail Kurds

zara saleh

The strategic town of Ain Issa that controlled by the Syrian Democratic Forces (SDF), and well-known as the political capital of the Kurdish autonomous administration, has recently become the centre of tensions. Aiming to take advantage of the US presidential transitional period, Turkey has increased its attacks in the area of Ain Issa since November perhaps to repeat the previous scenario of occupation of the mainly Kurdish region of Afrin in 2018. On the other hand, Russia as the main guarantor of the cease-fire agreement between Ankara and Moscow as a part of the Sochi deal in 2019, now is trying to exert pressure on Kurds to hand Ain Issa over Assad's regime.

Recently, after several meetings at the Russian military base in Ain Issa between the Syrian Democratic Forces and Russian officials, they have been reached a deal to set up three joint observation points with the Syrian army presence as well to monitor the previous cease-fire. Despite the deal should have to prevent any Turkish attacks on Kurds, Russia continues the plan of blackmailing Kurds by using the Turkish threats. Russian officials have warned the SDF that the serious danger of Erdogan's threats with the so-called Syrian National Army's jihadists. To avoid Afrin's scenario, Moscow has suggested SDF pull out from the area of Ain Issa and to hand it over to the Syrian regime.

Arguably, Russia was not satisfied with that deal due to the rejection from the SDF to withdraw from Ain Issa, and even they refused the Russian offer that been mentioned to be similar to Qamishly and Hsakah’s model. Qamishly's model leaves the security square control and the airport to the Syrian government, while the city remained under the control of the Kurdish forces. There is no doubt that Russia is trying to take control of the area of Ain Issa, Kobane, and Raqqa and to ensure the Syrian regime's gains by repeatedly using Turkey's threat. Moreover, Putin will never allow the Turkish army to invade that area and taking control of further territory.

Erdogan might fail to take advance in his plan in Ain Issa. however, Turkey's phobia towards the 'Kurdish state' and Erdogan Ottoman's ambition is serving Putin's strategic plan in favour of the Syrian regime. For Erdogan, if the Kurdish-controlled areas could hand over to the Syrian government still considered a success. The Russian overtime game, ultimately, seems will end without any success and they both, Moscow and Ankara, expect a tough relationship with the new elected US President Joe Biden in terms of their strategy in Syrian. Whereas, Kurds are more optimistic, and they believe that things will make difference with Biden's administration.

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.