Iranian opposition announces launch of ‘transitional movement’ at UK conference
September 30, 2019, 9:58 am

Iranian opposition announces launch of ‘transitional movement’ at UK conference

Spokesman Shahriar Ahy stated that “the transitional council opens its doors to Iranian opposition parties to work on a project that will bring the Iranian regime to its knees. (File photo AFP)

Members of the Iranian opposition have announced the launch of an opposition movement, which they said will be the nucleus of an alternative transitional government to the current regime in Tehran.

During a two-day conference that began on Saturday in London, Iranian dissidents and opposition parties said that the council will aim to manage a transitional period in Iran under the slogan “crossing over from an Islamic Republic to a democracy in Iran.”

The spokesman for the movement, Shahriar Ahy told Asharq al-Awsat newspaper that it aims to create “a national council that has some legitimacy so that it can be an alternative if a power vacuum does emerge.”

Political activist Hassan Shariatmadari, who is spearheading the movement, stressed the need to work toward removing the current regime, calling on Iranians to unify in protests against the regime and “break their chains.”

“We are late , and we want to be the voice of the Iranians. We want to tell them to cross over and link with us to fight the regime, so you can succeed in overcoming this political regime, Shariatmadari told Asharq al-Awsat.

Shariatmadari explained that the transitional management will follow a policy of managing “civil resistance, and communicating with Iranians,” on top of communicating with international parties through a specialized department.

“Between the option of maximum pressure and the option of war, the main option on the table was forgotten, which is recognizing the Iranian people,” Shariatmadari said.

“This needs to be taken into consideration, because the Iranian people can get rid of the regime on the condition that this integral part be included in your policies, and that you support and recognize the Iranian people’s representatives and their voices,” he added.

Shariatmadari added that Iranians are apprehensive when it comes to changing the current regime, which has isolated the people and kept them from progress and democracy.

Spokesman Ahy stated that “the transitional council opens its doors to Iranian opposition parties to work on a project that will bring the Iranian regime to its knees.”

He stated that the council is currently made up of ten departments, 11 secretaries, and a management committee comprised of 35 activists, 14 of whom are inside Iran.IRAN SHAHRIAR AHY

“The world should know that the weakness of the regime is not in Syria, Lebanon and Yemen, but in coordinating with the struggle of the Iranian people, whose numbers exceed the Islamic Republic and the Revolutionary Guards, but are currently dispersed,” Ahy said.

The council’s spokesman said that consultations over its creation began a year and a half ago, before it was officially announced this week, and insisted it was not partisan.

The conference’s organizers stated that the Iranian embassy in the UK put “diplomatic pressure” on the Royal Institution of Great Britain to prevent the opposition groups from using their venue.

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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.