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When Defeat Turns into Victory!

Every single defeat that the Arab countries faced with Israel in the distant and near past was converted into an illusory victory.
Transforming defeats into imaginary victories, was done by populist and ultra-nationalist leaders who were and still are the main reason behind the suffering of their people and the backwardness of their countries. These leaders were and still consider the mere survival or existence after every devastating loss as a triumph that should be proud of.
Following the 1967 Arab–Israeli War, the Syrian Ba'ath, announced the defeat of Israel simply because the "wise" Baathist leadership remained in power, knowing that it was - and still is - usurping power through a military coup. The defeat of June 1967 turned into a simple and fleeting "setback" despite Israel's occupation of Sinai in Egypt, Golan Heights in Syria and what was left of Palestine.
The "Mother of all Defeats" that led to the humiliating escape of the Iraqi army from Kuwait in 1991 was described by Saddam Hussein as "the Mother of all Battles". The July 2006 war, which led to the destruction of much of the capital, Beirut, and the withdrawal of Hezbollah fighters to the lines of contact, was, according to “the axis of resistance” which is practically “the axis of trading and auctions”, a divine victory. The October 1973 war, which led to the Israeli occupation of more Syrian and Egyptian lands, was considered a historic victory by the Arabs.
The last round of Israel-Hamas war that stopped a few days ago after 11 days of mutual bombardment was portrayed by Hamas and Jihad as a divine triumph. The war led to the killing of more than 240 Palestinians in Gaza compared to only 12 people in Israel. In addition to destroying dozens of residential towers in Gaza and damaging of the city’s infrastructure. The reason behind Hamas and Jihad’s account of the war as a heavenly victory is because that the leaders of the two movements, who were hiding in the basements like rats, eventually survived or just because the city of Gaza, which Hamas has dominated with force and intimidation, has not been completely wiped out.
Peoples and leaders who convert their current defeats into victories, inevitably, their reading and comprehension of distant and near history suffers from many drawbacks and fallacies. Consequently, nations and leaders who do not read and understand their history well cannot read and grasp their present well, even if they are a part of it and live in it.
On this basis, desired and hoped-for change in discourse, reason, and collective action becomes a form of fantasy and an aspiration that is very difficult to turn into a tangible reality.
Thousands of Gazans gathered in the streets and squares following the cease-fire to express their happiness. They did not do so, influenced by the lie of steadfastness propagated by Hamas leaders, but because they were and still love life and peace.
Perhaps most of them know that they have lost the last war as they had lost the previous wars. However, they have no choice but to be optimistic until they get rid of Hamas's rule and its policies that serve the agendas of Iran, Turkey and Qatar, the axis of evil and organised sabotage in the Middle East and North Africa.
The only case in which defeat can be turned into victory is when the correct and useful lessons are drawn from it. Also, when realism and rationality prevail in politics instead of recklessness and empty flashy slogans which increase the tragedy of peoples and double their poverty and deprivation.
by: Jwan Dibo
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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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