Military groups leave the "Sham Front" after the dissolution of the "Northern Falcons Brigade
October 19, 2024, 12:53 pm

الجبهة الشامية

Military groups from the "Sham Front" operating in the Aleppo countryside have departed, shortly after the "Northern Falcons Brigade" announced its separation from "Sham" and its self-dissolution.

On Friday, October 18, "Sajidoon Brigade," "Fifth Brigade," and "Gathering of People of the Land" released statements announcing their integration into the "51st Division" of the "Third Corps," all of which are affiliated with the Turkish-backed Syrian National Army.

The statements shared a common theme, stating that the decisions were made in the interest of the public and to enhance efforts and institutional work within the "National Army." In contrast, the Ministry of Defense in the "Interim Government" (to which the National Army belongs) welcomed the decisions to join the "51st Division."

A source from the "Sham Front" clarified to Enab Baladi that "Sajidoon Brigade" and "Fifth Brigade" were part of "Sham" before leaving it, while the "Gathering of People of the Land" was previously part of the "50th Division."

The source added that the departure of these factions is part of a restructuring within "Sham." The relationship between "Sham" and the "Interim Government" has been tense since September, as "Sham" suspended its work with the "Interim Government" on September 4, which is the executive arm of the National Coalition led by Abdul Rahman Mustafa.

In its statement, "Sham" accused the head of the "Interim Government" of inciting against "revolutionary entities," including the "Eastern Freedom Brigade" and "Sham Front," fabricating political and criminal charges, and tarnishing their image before Turkish politicians for "personal interests." They then called for the "National Coalition of the Forces of the Revolution and Opposition" to hold an emergency meeting to "withdraw confidence from Abdul Rahman Mustafa's government" and refer him to the judiciary.

The steps taken by "Sham" and their demands came after reports of a conflict between Mustafa and representatives of the "Sham Front" during a meeting held in the Turkish city of Gaziantep, called by the Turkish authorities, aimed at "finding solutions to urgent problems," as confirmed by the front officially.

The "Interim Government" stated that a meeting took place between the "Interim Government," "Coalition," "Negotiation Commission," "Tribal and Clan Council," and leaders of the "Syrian National Army," during which the Syrian reality and ways to overcome the challenges it faces were discussed.

However, the "Interim Government" did not mention the presence of Turkish intelligence representatives at the meeting, even though the meeting was called by them to discuss political developments in the region, primarily the opening of the "Abu Zandain" crossing between areas controlled by the regime and the "National Army," according to information obtained by Enab Baladi from an informed source through a mediator.

The "Interim Government" mentioned that among the points discussed at the opposition meeting was the importance of the "Abu Zandain" crossing as a vital humanitarian and economic passage that positively affects the economic and humanitarian situation in the area and its connection to the normalization process between Turkey and the Syrian regime.

The conflict reflected on the ground, particularly after the Ministry of Defense's decision to dissolve the "Northern Falcons Brigade" on September 17, which the faction rejected, opting to merge with "Sham."

Clashes erupted after the "Joint Force" attacked the positions and control areas of "Fuqara" on October 16, prompting "Sham" to support them.

However, the "Northern Falcons Brigade" dissolved itself and abandoned "Sham" about two days after the "Joint Force" attack.

The "Joint Force" includes the "Sultan Suleiman Shah Brigade," known as "Al-Amshat," led by Muhammad al-Jassem (Abu Amsha), and the "Al-Hamza Brigade," commonly referred to as "Al-Hamzat," led by Saif Abu Bakr.

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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.