Ankara Sets Impossible Conditions to Hide Its Intention to Stay in Syria
Linking Turkish withdrawal to impossible conditions like a new constitution and free elections shows Ankara's effort to legitimize its long-term occupation
November 23, 2024, 7:54 pm

Ankara Sets Impossible Conditions to Hide Its Intention to Stay in Syria

هاكان فيدان

In his effort to entrench Turkish military presence in Syria, Turkish Foreign Minister Hakan Fidan dismissed Syrian President Bashar al-Assad's desire for peace.

Speaking during his ministry's 2025 budget discussion in the Turkish parliament's Planning and Budget Committee, Fidan revealed his country's plan to prolong its presence in Syrian territory under various pretexts.

Regarding Erdogan's invitation to Syrian President Bashar al-Assad for a meeting to discuss normalizing relations between the two countries, Fidan indicated that the matter relates to political will, noting that Erdogan showed his intentions at the highest level, in an attempt to legitimize the Turkish presence.

Fidan added that "it is valuable for the leader of a democratic state (Erdogan) to make such statements," explaining that this step changed the rules of the game in the Syrian scene.

In his parliamentary speech, Fidan proposed impossible conditions for withdrawal from Syria that ensure Turkish forces' presence for years to come, such as adopting a new constitution, holding elections, and securing borders, adding that Assad's administration's position shows that "he does not want to return to peace."

He addressed Assad with additional conditions, saying: "Let free elections be held, and whoever comes to power as a result, we are ready to work with them," in a clear indication of Ankara's desire to change the Syrian regime before any potential withdrawal.

Fidan explained that Ankara's strategy in Syria is based on several pretexts to justify its military presence, including combating what he described as terrorist elements, ensuring Syrian territorial unity, pushing the political process forward, and facilitating Syrians' return to their country.

As part of Turkey's expansion policy, Fidan confirmed his country's position in confronting the "Kurdistan Workers' Party," pointing to Turkey's thwarting of the (Kurdish) "Self-Administration's" efforts to organize local elections in northeastern Syria.

It's worth noting that Turkey has controlled large areas in northern Syria since 2016 through successive military operations, and seeks to consolidate its influence by establishing permanent military bases and supporting loyal factions, despite repeated international demands for withdrawal and respect for Syrian sovereignty.

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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.