Saudi Arabia Executes Syrian Drug Trafficker
August 4, 2024, 11:17 pm

Drugs

Saudi Arabia Executes Syrian Drug Trafficker

The execution of drug trafficker Khalid Ibrahim Al-Mashhour highlights the Saudi authorities' commitment to pursuing and punishing drug-related crimes.

On Thursday, the Saudi Ministry of Interior announced the execution of a criminal in the Al-Jawf region. According to the Quranic verse, those who spread corruption on earth are to be severely punished. Khalid Ibrahim Al-Mashhour, a Syrian national, was arrested for smuggling banned amphetamine pills into the Kingdom.

Following thorough investigations, Al-Mashhour was charged with smuggling and found guilty. The court issued a death sentence as a disciplinary measure, which was upheld by the Court of Appeals and the Supreme Court. A royal decree was issued to carry out the sentence in accordance with Islamic law. The execution was carried out on the 26th of Jumada al-Awwal 1446 AH, corresponding to August 1, 2024, in the Al-Jawf region.

The Ministry of Interior emphasized that this action reflects the Saudi government's determination to combat drugs and impose the harshest penalties on those involved, based on the teachings of Islam. The ministry warned anyone considering such actions that they will face legal punishment and prayed for everyone to be guided to the right path.

In recent years, drug-related issues have become a key factor affecting the relationship between the Syrian regime and Saudi Arabia. Reports indicate that the Syrian regime, through networks linked to Bashar al-Assad’s relatives and the Fourth Division, has fostered the production and trade of drugs, especially Captagon pills. These illegal activities not only threaten the internal security of neighboring countries but also strain diplomatic relations with countries like Saudi Arabia, which has seized large quantities of these drugs coming from Syria.

Saudi Arabia takes a firm stance against drugs and imposes severe penalties on those who trade in them, facing new challenges due to the influx of drugs from Syria. This situation undermines trust between the two countries and complicates bilateral relations, especially amid deep-seated political differences.

Meanwhile, the Syrian regime continues to exploit deteriorating security conditions to bolster its criminal networks, complicating regional anti-drug efforts and negatively impacting regional stability. In this context, Saudi-Syrian relations are significantly affected by the drug issue, with the Syrian regime's handling of the matter serving as an indicator of its intentions and behavior on the regional stage. With ongoing international pressures and sanctions on the Syrian regime, the drug issue remains a major point of contention affecting the future of relations between the two countries.

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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.