Turkey could shut down Incirlik Air Base used by US if necessary – Erdogan on US sanctions
December 16, 2019, 9:43 am

Turkey could shut down Incirlik Air Base used by US if necessary – Erdogan on US sanctions

Turkish President Recep Tayyip Erdogan (R) and US President Donald Trump pose for a family photo at the annual NATO heads of government summit in Watford, UK on December 4, 2019.

Ankara retains the option of shutting down the Incirlik Air Base used by US/NATO forces, in retaliation to any additional sanctions against Turkey, President Recep Tayyip Erdogan has said.

As well the airbase, which is located in Adana, the Kurecik Radar Station in the Malatya province may also be closed, Erdogan said. The Kurecik base houses an early-warning radar installed by the US Army, which plays a strategic role in NATO’s ballistic missile defense network.

https://twitter.com/eha_news/status/1206284604128280576

Erdogan made the threat, which had earlier been suggested by FM Mevlut Cavusoglu while talking to the A Haber channel about the Armenian Genocide resolution passed by the US Senate. It formally recognizes as genocide the mass murder of some 1.5 million Armenians in the early 20th century by the Ottoman Empire.

https://twitter.com/ragipsoylu/status/1206290559549235206

While the resolution was opposed by US President Donald Trump because it came amid a notable low-point in American-Turkish relations, Trump himself has not shied away from threatening Ankara with sanctions – even with the use of force.

This war of words was triggered particularly by Turkey’s October military operation in northern Syria, which targeted Kurdish militias allied with the US. Back then, Ankara was slapped with sanctions, but those were later rolled back when Trump decided that the crisis was resolved.

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US Senators on Wednesday backed a bill that would enable the sanctioning of Turkey over its purchase of the Russian-made S-400 air defense system, and over its military operation against Kurds in northern Syria. Ankara’s acquisition of the S-400 system has been a bone of contention between the two NATO allies, in which Ankara has steadfastly refused to abandon the deal.

Erdogan’s singling out of Incirlik is not the first time the NATO facility has been in the news in Turkey. Following the failed coup against Erdogan in July 2016, local media reported that thousands of armed police in armored vehicles surrounded the base, amid rumors of a fresh coup attempt. The authorities later explained the massive response by a routine security check ahead of a high-level US military visit. In the wake of the coup, however, several top military officials at Incirlik were arrested on treason charges, after authorities claimed an F-16 fighter jet taking part in the rebellion had refueled there.

A year later, Germany’s parliament voted to move its troops stationed at Incirlik to Jordan, after Turkish authorities refused to allow members of the Bundestag to visit the base. Turkey blocked access to the Germans after Berlin granted asylum to several Turkish nationals it claims took part in the 2016 coup.

The base is one of six storage sites for American nuclear warheads in Europe, with an estimated 90 nukes stationed there. It was also used heavily by coalition forces in the US-led bombing campaign in Syria and Iraq.

source: Reuters

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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.