The Afghanistan fiasco sends shockwaves throughout al-Qamishly, al-Hassakeh, and Baghdad.
August 26, 2021, 9:13 am

The Afghanistan fiasco sends shockwaves throughout al-Qamishly, al-Hassakeh, and Baghdad.

Sami Moubayed

Rumor has it that Mu’ammar al-Ghaddafi spent the evening of 13 December 2003 at his office in Tripoli, silently watching reruns of Saddam Hussein’s capture outside his hometown of Tikrit. Gaddafi ordered his aids, advisers, and family members to leave the room, as he kept repeating the video of his former colleague hiding in a deep hole, unkempt, with a bushy beard and matted hair. It sent shivers down the spine of the Libyan leader, who decided—right there and then—to avoid a similar fate by making friends with the Americans. He moved heaven and earth to give himself a political facelift, surrendering his country’s arsenal and dismantling Libya’s nuclear program, but that was seemingly not enough to save him from a fate that was no different from that of Saddam. He too was toppled by a US-led invasion just eight years later, and was found hiding in culvert west of Sirte, from which he was dragged, humiliated, and executed on 20 October 2021.

Ten years later, rumor has it that Syrian Kurds and Iraqi Prime Minister Mustapha al-Kadhimi spent the night of 18 August 2021 watching reruns of Afghani President Ashraf Ghani departing from Kabul as the Taliban overran his country. The speedy departure, with little pomp or ceremony, sent shivers down the spine of America’s allies in the Arab World. Men who had built their entire fortunes of American support suddenly felt abandoned, afraid, and very vulnerable. The abandonment of Ashraf Ghani was no different from what the Americans did to Shah Reza Pahlavi of Iran in 1979 or to Egyptian President Husni Mubarak in 2011. It was the first of its kind under President Joe Biden, however, a veteran statesman who many believed would be wiser and more nuanced than his predecessors.

Fears in Syria

In Kurdish-held territories east of the Euphrates River in northeast Syria, the Syrian Democratic Forces (SDF) are unsure of what to make of Joe Biden after what happened in Afghanistan. His predecessor, President Donald Trump, had twice threatened to walk out on them, leaving them to fight an uphill battle against Turkish President Recep Tayyip Erdogan, in which they would have certainly been exterminated. The Turkish leader waited patiently for the Americans to leave Syria in order to send his troops to overrun their bases in Qamishly and al-Hassakeh, forcefully dismantling all embodiments of statehood that they had established since 2014. On both occasions, however, Trump backed down on his decision, convinced by his advisers to stay in Syria in order to prevent an ISIS comeback, counter Iranian presence in government-held territory, and “keep the oil.” Syria is now a low-priority on Biden’s Middle East agenda, but given his decision to disengage military from the region, he might suddenly decide to withdraw troops from Syria, which would be a nightmare for the Kurds. Many of them seem convinced, however, that because of the bad publicity that Biden got in Afghanistan, he will think twice before repeating such a withdrawal from Syria.

Worry in Baghdad

Next door in Iraq, Prime Minister Kadhimi is weighing his options. Since coming to power in mid-2020, he has relied heavily on the Americans to stay in offfice, promising to dismantle Shiite-backed militias like Kataeb Hezbollah and the Popular Mobilization Units (PMU). He took jabs at both, ruining his reputation within the Shiite community from which he hails. Shiite MPs who voted for him last year are waiting for Iraq’s next parliamentary elections in October, after which they plan to eject him from power and have him replaced him with someone who is less pro-American and more sympathetic to Iranian interests in Iraq. Behind closed doors, they describe him as unfaithful, ungrateful, and unpatriotic. Kadhimi was badly in need of a success story to polish his image within the Iraqi street, especially among the Shiite community. Last month he headed to Washington DC where he met with President Biden at the White House and sealed off a deal to withdraw American combat troops from Iraq by December 2021. News of the agreement was supposed to please Iraqi Shiites and serve him well, before events started unraveling in Afghanistan. Shiite militias grinned at news of the Kadhimi-Biden agreement, hoping to overrun Baghdad the day after the Americans leave Iraq. Iraqi Sunnis who back Kadhimi are worried, with due right, fearing that Biden will abandon them to Shiite militias just like he abandoned Ashraf Ghani to the Taliban.

Realizing just how problematic a full withdrawal would be, President Biden immediately added a clause to the agreement, telling reporters: “Our role in Iraq will be to continue to train, to assist, to help, and to deal with ISIS as it arises, but we’re not going to be, by the end of the year, in a combat mission.” Whether or not such an assurance will calm the situation in Iraq is yet to be seen, as aftershocks of the Afghanistan fiasco continue to vibrate throughout Baghdad.

by: Sami Moubayed

UAE increases baggage allowance on flights to Beirut to assist crisis torn country 10 people killed and many injured in Kabul airport explosion

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.