What to expect from Hamas, if JCPOA fails?
June 1, 2022, 2:15 pm

What to expect from Hamas, if JCPOA fails?

Sami Moubayed

The situation in Palestine is volatile, tottering on the verge of a third intifada. In recent weeks we have witnessed a series of stabbings, target assassinations, and arrests, topped with a major raid on Jenin and the murder of veteran Palestinian journalist Sherin Abu Akleh on 11 May. At least one officer of the elite Israeli force Yamam was killed in Jenin’s Burqin town last month, while a handful of Palestinians have been arrested. Among the dead is Daoud Zubaidi, who succumbed to his injuries on 15 May 2022. He was the brother of arrested Fateh military leader in Jenin Zakariyya Zubaidi, who is in an Israeli prison. The Zubaidis are allies of Hamas and ranking commanders of the Jenin branch of the Palestinian Islamic Jihad (PMI)’s military wing, Saraya al-Quds. So are the Dabai brothers, who were the target of a recent raid on the Jenin Refugee Camp.

In the midst of the violence, Qatari diplomat Mohammad al-Imadi landed in Gaza on 18 May, raising eyebrows and plenty of questions. Imadi heads the Qatari Committee for the Reconstruction of Gaza, and his visit comes amidst unprecedent tension in the Palestinian Territories—tension that he can either enflame, or defuse. That depends on how much money is given to Hamas, and what strings are attached to it. Officially, the visit is to settle an overdue payment to Gaza, pending since 1 May. Qatar provides the Gaza Government with $30 million USD monthly but last month, only $24 million were wired to Hamas. $10 million are allocated for fuel, $10 million for 100,000 families in-needs (including families of Hamas martyrs), and $4 million USD in salaries for the Hamas government. Qatar gives Hamas $360 million USD/year.

On wonders, will this money be used to sooth the suffering of Palestinians, or will Hamas allocate it for military activities?

Hamas leaders has been in the news lately, especially after Israeli media outlets demanded the assassination of Hamas chief Yehya al-Sinwar. Joining the chorus were Uri Zaki of Meretz, journalists Ammon Abramovich (TV Channel 12) and Ben Caspit (Maarev), while Likud MP Yoav Gallent was quoted saying: “Sinwar needs to be assassinated immediately. Assassinate him, no matter what the consequences.” Channel 13 then conducted a survey on whether or not Sinwar should be killed, showing that 60% of respondents wanted him dead. It must be remembered that Hamas thrives on such logic. They feel uncomfortable when dealing with moderates and are at great ease with radicals like themselves. Such provocative remarks give Sinwar and his colleagues a free hand to further militarize Palestinian society, toughen their stance, and ask for more money, whether from Qatar or Iran. Hamas is already planning for attacks south of Nablus, in response to the killing of its member Walid Sharif, a native of Beit Hananiya who was wounded at the Al Aqsa Mosque in April, and died in May.

Another survey, this time conducted by the Israeli Democracy Institute, showed that a majority of Israelis believe that the Bennet government should impose sovereignty over the Temple Mount and permit Jews to pray there. More music to the ears of Yehya al-Sinwar. This, and the need to eliminate Sinwar, is a view that is starting to gain momentum throughout the political and security establishment in Israel. If Bennet is convinced, then such actions would, undoubtedly, ignite a third intifada. The Izz al-Din Qassam Brigade has promised an “earthquake” in the region, should Israel kill Sinwar. The sixty-year old Sinwar, who “We would rather not turn the battle with the occupation into a religious battle. But if the occupation and extremists want to turn the battle with the Palestinians into a religious war, then, challenge accepted.” In any future war, Sinwar promised to fire 1,111 rockets against Israel. In most cases, such rhetoric would go by unnoticed, since it is common for Hamas to make such inflated claims. But coming from Sinwar, it must be taken seriously, although such a threat cannot be carried out without the support of Iran. And such support doesn’t seem forthcoming, at least in the short-term, so long as JCPOA remains on the table.

But what if JCPOA collapses? Many have started asking that question, wondering where and when Iran will decide to flex its muscle and strike back at the US. Its needs a stage that is all set for confrontation; a theatre where there are plenty of arms, topped with high indoctrination, poverty, and radicalization. Iran will want to retaliate through stages that are all set up for a confrontation. The obvious stage then, would be Gaza.

BY: Sami Moubayed

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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.