Michael Arizanti

The recent tragedy in Israel, with Hamas launching thousands of rockets at Israeli cities, is a stark reminder of the grave threat that Iran and its proxies pose to the region and to the world.

While much has been made of the failure of Israeli intelligence to predict the timing and scale of the Hamas attack, it is important to note that this is not just a failure of Israeli intelligence. It is also a profound indictment of US-led policy on Iran.

In recent months, the Biden administration has been quietly appeasing and enabling Iran. This has included releasing billions of dollars in frozen sanctions accounts, easing oil sanctions, and turning a blind eye to Iran's continued nuclear program.

The extra cash that Iran is now receiving is being used to fund and equip Hamas and other terrorist proxies throughout the region. This is the direct cause of the current conflict in Israel.

What the diplomatic classes in the West fail to fully understand is that Iran's rulers are in the grip of a fanatical theology similar to Islamic State. They believe that an apocalyptic war is coming in which a mythical figure called the "Mahdi" will reveal himself and take control of the globe, dividing it into cantons for each of his bravest followers.

War with Israel would be the catalyst for this apocalyptic war. This is why Iran is investing so heavily in nuclear weapons, ballistic missiles, and proxy militia.

Make no mistake: the Ayatollahs want apocalypse. They are very close to going nuclear. And when they do, Israel will be their first target. But the West will not be far behind.

The US-led policy of appeasement towards Iran is a grave mistake. It is empowering Iran's rulers and enabling them to carry out their apocalyptic agenda.

What is needed is a new policy towards Iran that is based on realism and strength. The West must make it clear to Iran that it will not tolerate its nuclear ambitions, its support for terrorism, or its destabilizing activities in the region.

The West must also work with its allies to impose comprehensive and crippling sanctions on Iran until it changes its behavior.

Only then will the threat of Iran be contained and the region be able to find peace.

Iran's funding of Hamas is a long-standing matter. In 2012, a senior Hamas official admitted that Iran provides the group with $70 million a year. In 2018, the US Treasury Department estimated that Iran provides Hamas with $100 million a year.

Iran's funding of Hamas is used to purchase weapons, ammunition, and other military equipment. It is also used to fund Hamas's social welfare programs, which help to build support for the group among the Palestinian population.

In addition to funding Hamas, Iran also supports other terrorist proxies in the region, including Hezbollah, the Islamic Jihad Movement in Palestine, and the Houthis in Yemen.

These proxies play a vital role in Iran's strategy of regional destabilization. They allow Iran to project its power and influence throughout the region without having to directly commit its own forces.

Iran's nuclear program is the most serious threat to regional and international security today. If Iran acquires nuclear weapons, it will be able to blackmail its neighbors and threaten the free flow of oil through the Strait of Hormuz.

Iran's nuclear program is also a threat to Israel's existence. The Iranian regime has repeatedly stated that it wants to destroy Israel. If Iran acquires nuclear weapons, it will be able to carry out this threat.

The US-led policy of appeasement towards Iran has failed to achieve its objectives. Iran's nuclear program has continued to progress, and Iran's support for terrorism throughout the region has only increased.

The Biden administration's decision to release billions of dollars in frozen sanctions accounts to Iran is particularly egregious. This money is not being used to improve the lives of the Iranian people. It is being used to fund Iran's nuclear program and its support for terrorism.

The West needs a new policy towards Iran that is based on realism and strength. The West must make it clear to Iran that it will not tolerate its nuclear ambitions, its support for terrorism, or its destabilizing activities in the region.

The West must also work with its allies to impose comprehensive and crippling sanctions on Iran until it changes its behavior.

Only then will the threat of Iran be contained and the region be able to find peace.

The Biden administration's policy of appeasement of Iran is a failure. It is emboldening Iran and endangering Israel and the West. The Biden administration must reverse its policy and take a tough stance on Iran.

BY: Michael Arizanti

The 4th cycle of the ICCROM-Sharjah Award for Good Practices in Cultural Heritage Conservation in the Arab Region 2024 launches Families of Syria’s disappeared and survivors of torture call for an end to torture outside landmark International Court of Justice case

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.