Abdi-Sharaa Agreement: Cautious Optimism from Turkey and Supportive Position from Washington
The support of France and the United States for dialogue between the Syrian administration and Kurdish components indicates a real opportunity to establish a decentralized constitution that guarantees
March 11, 2025, 6:51 pm

Abdi-Sharaa Agreement: Cautious Optimism from Turkey and Supportive Position from Washington

أحمد الشرع ومظلوم عبدي \ متداولة

A Turkish official expressed to North Press on Tuesday Ankara's cautious optimism toward the pact concluded between the Syrian government and the Syrian Democratic Forces, a position that conceals concerns about the establishment of a decentralized model that respects specificities.

The day before yesterday, the Syrian presidency announced that the transitional president in Syria, Ahmed Al-Sharaa, and the commander of the "SDF," Mazloum Abdi, signed the treaty, which stipulates the integration of the "SDF" civil and military formations affiliated with the Autonomous Administration within the structure of the Syrian state, and this initiative has received wide Arab and international approval.

The Turkish spokesman continued that Ankara wants to monitor how the agreement is implemented first, stressing that this does not prevent Turkey's determination to confront what it calls terrorism and its insistence on dismantling the Kurdish People's Protection Units, in continuation of its policies hostile to the Kurdish component.

Turkey launches attacks from time to time on the Syrian Democratic Forces and areas in northern Syria, claiming that it is trying to eliminate the extension of the "Kurdistan Workers' Party" inside Syria, while the "SDF" refutes Turkish claims by confirming that it is a Syrian force defending its territory against those who transgress against it and against the "ISIS" organization.

The White House commented on Tuesday, in the first comment from Washington on the agreement between the Syrian state and the Syrian Democratic Forces, announcing: We prefer a peaceful solution, in support that reflects endorsement of dialogue as a means to protect diversity.

The White House added, in continuation of its statements, that they will continue to follow the decisions of the authorities in Damascus, indicating the importance of accountability and transparency.

It expressed concern about what it called "attacks on minorities in Syria," adding that they exacerbate their fears, and that they still have doubts about the extent of the new leadership's readiness in Syria to embrace diversity, which confirms the importance of adopting a constitution that guarantees the rights of all components.

France, on Tuesday, welcomed the pact signed between the Syrian state and the Syrian Democratic Forces, which stipulated the integration of all the latter's institutions with the Syrian government's institutions, in a position that supports the transition path.

The French Foreign Ministry said that the political agreement in Syria is a positive step towards a negotiated and peaceful solution to unify Syria and involve the Kurds in the political transition process.

It added that France will continue its efforts to facilitate dialogue between the new Syrian administration and its Kurdish counterparts in northeastern Syria in accordance with its commitment since the beginning of the transition process.

The President of the Kurdistan Region, Nechirvan Barzani, on Tuesday, congratulated Syria on the agreement concluded between the transitional president in Syria, Ahmed Al-Sharaa, and the commander of the Syrian Democratic Forces (SDF), Mazloum Abdi.

Barzani said in a statement, "This agreement represents an appropriate roadmap for the future and a correct transitional phase, and the Syrians' welcome of this agreement reflects their desire, like other peoples of the region, for stability and peaceful solutions away from violence."

He stressed the Kurdistan Region's full support for Syria's security and stability, emphasizing the necessity of "preserving the rights of all components of the Syrian people and their active participation in building a free and prosperous Syria," in a vision that aligns with the requirements of protecting rights and ensuring fair participation.

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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.