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Kleptocracy: Over 50 Years of Rule by Thieves in Syria

Kleptocracy, or "rule by thieves," is a form of authoritarian governance that seeks to exploit a nation’s wealth and resources for the benefit of a ruling elite. Unlike totalitarian regimes, which rely on rigid ideologies and systematic propaganda to shape collective consciousness, kleptocracies focus on economic alliances and personal loyalties to consolidate power. In such systems, legitimacy and the rule of law are entirely absent, replaced instead by networks of patronage and corruption.
In Syria, kleptocracy has manifested vividly over more than half a century of Assad family rule. When Hafez al-Assad seized power, he sought to establish a hybrid model blending totalitarianism and kleptocracy. He exploited Baathist ideology to legitimize his reign while simultaneously building a network of beneficiaries that included his family, sectarian allies, and select tribal factions to ensure complete control over the state’s resources.
The Baath Party: An Ideological Facade
Although the Baath Party served as the ideological facade of the regime, it gradually devolved into a hollow bureaucratic apparatus devoid of intellectual substance. As historian Hanna Batatu noted, the party became increasingly dominated by opportunists whose primary goal was to secure personal advancement. Recognizing this, Hafez al-Assad retained the party as a tool for mobilization and filling the void of legitimacy. However, he understood that real power lay within the familial, sectarian, and tribal networks that he meticulously orchestrated to govern the country.
Bashar’s Era: Modernizing Kleptocracy
When Bashar al-Assad assumed power, he introduced a new narrative of "development and modernization," feigning economic reforms and embracing a market-driven economy. In practice, however, this was merely a smokescreen for expanding patronage networks. A new generation of regime-aligned businessmen emerged, acting as financial proxies for the ruling elite.
The Baath Party’s role was progressively marginalized, losing any ideological or political significance. By the time widespread protests erupted in 2011, the regime was prepared to discard the party altogether in a theatrical display of reform. Yet this was nothing more than a desperate attempt to quell popular anger without making any substantial concessions.
From Patronage to Mafia Rule
What sets Bashar’s rule apart from his father’s is the absence of any coherent political project or strategic vision. While Hafez al-Assad, despite his authoritarianism, invested in nationalist and regional rhetoric to legitimize his regime, Bashar reduced governance to a mafia-like structure. His regime became a fragile entity sustained by temporary alliances and looting networks that divided the nation’s wealth among a narrow circle of loyalists.
The Syrian regime under Bashar cannot even be described as a classic dictatorship. It is better characterized as a kleptocratic entitya patchwork of exploitative gangs focused solely on self-enrichment while the state crumbles.
The Syrian regime is not just an authoritarian dictatorship; it is a living example of kleptocracy at its worst. It has drained the country economically, dismantled its social fabric, and entrenched corruption in every state institution. While Syria has endured decades of dictatorial rule, calling Bashar al-Assad a "dictator" seems far too generous. He has governed not with the vision of a leader, but with the mindset of a gang boss. Ultimately, he has fled the nation with his entourage, leaving behind a country stripped of its resources—without even a word of apology to the Syrian people or a farewell to his supporters.
Ghinwa Al-Shomari
Academic and researcher in Syrian affairs
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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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