The Leadership Challenge for Hezbollah After Nasrallah's Assassination
September 30, 2024, 11:26 am

The Leadership Challenge for Hezbollah After Nasrallah's Assassination

توقيف شخصين في ألمانيا للاشتباه بانتمائهما لحزب الله

For the past 32 years, Hassan Nasrallah has been the only leader and Secretary-General of Hezbollah. He was assassinated last Friday in Israeli strikes targeting the party's leadership headquarters in the southern suburbs of Beirut. Since 1992, Nasrallah has served as the main face of the party and its pinnacle, holding the position of third Secretary-General following the assassination of his predecessor, Abbas al-Mousawi.

With this vacancy, selecting a successor to Nasrallah is now a top priority for Hezbollah. According to the party’s internal regulations, the new Secretary-General is elected by members of the "Shura Council," a panel consisting of seven members, each responsible for specific aspects of the party. Political writer Qassem Qassir labels this body as the "Council of Decision." Qassir told the BBC that the Shura Council is responsible for the party's top leadership, which is typically elected during a central conference formed by Hezbollah’s cadres and leadership. This conference was historically held every three years; however, it has not convened in recent years due to the ongoing conflicts in Syria and Lebanon, leading Nasrallah to assume the Secretary-General's role automatically.

Under the Shura Council's umbrella, five main councils operate within the party: the Executive Council, Judicial Council, Parliamentary Council, Political Council, and the Jihad Council, which oversees the party's military operations. The current members of the Shura Council include the heads of these main councils, along with Nasrallah and the Shura Council's president, Naeem Qassem, who also serves as the Deputy Secretary-General. Additionally, the council includes Mohammad Yazbek, President of the Judicial Council; Ibrahim Amin al-Sayyid, President of the Political Council; Hashem Safi al-Din, President of the Executive Council and the leading candidate to succeed Nasrallah; Hussein Khalil, the Political Assistant to the Secretary-General; and Mohammad Raad, President of the Parliamentary Council and leader of the Loyalty to the Resistance bloc, Hezbollah's political wing in the Lebanese parliament.

Qassir predicts that Hezbollah is unlikely to hold elections for a new Secretary-General in the near future, and responsibilities may be assigned to Deputy Secretary-General Naeem Qassem until the ongoing war conditions change.

Hezbollah was formed in the early 1980s as an armed Shia political group by clerics committed to the principle of "Wilayat al-Faqih," a doctrine established by Iran's Supreme Leader Ruhollah Khomeini following the Islamic Revolution in 1979. Therefore, one of the most important characteristics required for the individual assuming the leadership of Hezbollah will be that he is a religious figure.

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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.