North and East Syria.. "Self-Administration" Prepares to Receive Syrians in Lebanon
The Self-Administration's initiative to facilitate the return of refugees highlights the urgent need to find sustainable solutions to the Syrian refugee crisis, and emphasizes the importance of cooper
September 25, 2024, 1:39 am

الإدارة الذاتية لشمال وشرق سوريا

In a proactive step to face the consequences of the Israeli escalation in southern Lebanon, the representation of the Self-Administration in Lebanon announced the formation of a special committee to follow up on the affairs of Syrian refugees coming from the North and East Syria region, following a wide wave of displacement from southern Lebanon towards the capital Beirut, as a result of violent Israeli raids targeting the area.

The representative of the Self-Administration in Lebanon, Abdul Salam Ahmed, said in a press statement: "As is known, as a result of the war in southern Lebanon, the situation has not been safe for a year, and thousands of Syrian displaced people live there, including people from Rojava and North and East Syria." He added: "As a result of the expansion of the war now, thousands of residents from that area have been displaced to the capital, Beirut."

Ahmed explained that the formed committee will work on providing support and assistance to refugees from North and East Syria areas, in addition to coordinating the affairs of those returning to their original areas. Observers considered this as a concern from the "Self-Administration" to protect its citizens even outside its direct control, and an affirmation of its role as an active entity in the region.

In a related context, the Democratic Self-Administration of North and East Syria issued a statement confirming its readiness to provide the necessary support to facilitate the return of Syrian refugees from Lebanon.

The statement said: "The developments that are sweeping the region, especially what is happening in Lebanon, contribute to increasing the suffering of our Syrian people displaced to Lebanon; in light of the difficult conditions they are living in during their displacement journey; as a result of the crisis that has occurred in Syria for more than a decade."

The Self-Administration also called on the Damascus government to cooperate to facilitate the passage of returnees and take their suffering into serious consideration, which confirms the need for coordination between various Syrian parties to ensure a safe and dignified return for refugees.

It should be noted that the recent Israeli escalation in southern Lebanon has resulted, according to the latest statistics from the Lebanese Ministry of Health, in the death of 558 people and the injury of 1,835 others. The Syrian Observatory for Human Rights also reported the death of 16 Syrians, including children and women, as part of this escalation.

These tragic numbers indicate the extent of suffering experienced by civilians, especially Syrian refugees who face new risks after fleeing the war in their country, and highlight the urgent need for immediate international action to protect civilians and find a comprehensive and sustainable solution to the Syrian crisis.

In light of these developments, the Self-Administration's efforts to support Syrian refugees in Lebanon remain a positive step, but they need broader regional and international support to ensure their effectiveness and achieve tangible results on the ground.

Levant - Agencies

Amid the Lebanese War.. Rising Concerns for the Safety of Syrian Refugees Iranian President Admits Hezbollah's Weakness: "Cannot Face Israel Alone"

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.