War-ravaged Syria Is About to Hold Presidential Elections!
April 25, 2021, 7:56 am

War-ravaged Syria Is About to Hold Presidential Elections!

Jwan Dibo

On Sunday 18^th, the head of the Syrian People's Assembly, Hamouda Al-Sabbagh, announced that the presidential elections in Syria will be held on 26 May. Candidates must get the backing of 35 members of the parliament which is dominated by Assad’s Baath Party.

These elections will be held in accordance with the 2012 constitution which states that nominees must have lived in Syria continuously for the last 10 years. This condition would prevent any opposition figures in exile from running.

The US Ambassador to the UN, Linda Thomas-Greenfield, told the Security Council last month that “These elections will neither be free nor fair. They will not legitimize the Assad regime”. Other Western governments have expressed the same attitude when they clearly denounced the move describing it as a ludicrous charade.

The Syrian political and military opposition affiliated with Turkey and funded by Qatar condemned the move. “Assad’s regime announcement of the play of elections that will be supervised by the security apparatuses confirms the misery of this regime and its separation from the reality of the Syrian people”, ‘the chief of ‘National Coalition for Syrian Revolution and Opposition Forces' based in Istanbul, Naser al-Hariri, wrote on Tweeter.

The political head of 'Firka Muattasim', Mustafa Sejari, an armed faction officially financed by Qatar and backed by Turkey said that “We consider Assad’s parliament to have no legitimacy. This is a theatrical farce and a desperate effort to reinvent this criminal regime”.

Irrespective of the denunciation of US, EU, and the Syrian opposition affiliated with Turkey and Qatar, the decision to hold these elections reflects the expectation of more evils that await Syria in the coming time. Undoubtedly, the results of these absurd elections are known in advance and they will lead to a foregone conclusion which is the winning of Bashar al-Assad another seven-years term.

Conducting these elections in light of the difficult circumstances afflicting Syria, and in this tyrannical manner indicates that Assad regime does not recognise the existence of a problem in Syria. It, also, reflects the regime’s continuation in ruling Syria on the same foundations on which it was built in 1970’s when Hafez al-Assad, Bashar’s father, took power via military coup. In short, these foundations are: authoritarianism and the rule of one party and one family.

On the other hand, the balance of power began to incline in favour of Assad regime, both internally and externally, which encouraged it to hold these comical presidential elections. Internally, the regime, through its allies Russia and Iran, succeeded to regain control of more than half of Syria. The rest percentage of the land is controlled by the Kurdish-led Syrian Democratic Forces (SDF) in east and northeast, plus some pockets occupied by Turkey in northwest.

Externally, there are signs that some of the major Arab countries in the region are seeking to rebuild diplomatic and economic relations with Assad regime and to reactivate its membership in the Arab League. The pretext is to limit the growing Iranian and Turkish influence in Syria without any regard for what this regime has caused to Syria and Syrian people.

Even if we assume that this unacceptable excuse is correct, it appears useless and too late. At the same time, it seems that the main Arab countries do not have many options in this regard. Especially since the alternative that was looming on the horizon until recently was a common Turkish-Qatari fabrication represented by the Syrian Muslim Brotherhood branch.

These elections are taking place outside the context of the political transition process that is supposed to be based on UN Resolution 2254. Worse still, these elections are tantamount to a lack of recognition by Assad regime and its partners of the political process based on international and regional consensus. Put differently, these elections can be considered as the last nail in the coffin of UN Resolution 2254, which has no role or effect anymore.

by: Jwan Dibo

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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.