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Where will the Muslim Brotherhood go if Turkish-Egyptian problems are settled?

The Muslim Brotherhood (MB) of Egypt is confused—with due right. They do not really know what to make of the rapprochement in-the-making between their home country, Egypt, and host country, Turkey. For the past month there has been plenty of talk about Ankara abandoning the MB, peddled mainly by the Saudi al-Arabiya TV. Among other things, al-Arabiya said that Turkey was reviewing the residency permits of Egyptian members of the MB while investigating their bank accounts and financial dealings. Muslim Brotherhood
The reports said that some members of the MB had been arrested and others were earmarked for deportation to Egypt. That of course was in addition to asking three Egyptian opposition channels based in Turkey to tone down their criticism of President Abdul Fattah al-Sisi. The three channels, El-Sharq, Watan TV, and Mekameleen, were threatened with fines if they defied orders of the Turkish government.
That put the MB on high alert, fearing a sudden abandonment by President Recep Tayyip Erdogan. The Turkish leader has done it before, after all, giving them plenty of reason to worry. He sold out his Syrian proxies in Aleppo back in the summer of 2016, in order to march on the cities of Jarablus, Azaz, and al-Bab. He did it again in mid-2018, abandoning the Turkish-backed groups in East Ghouta in exchange for sending his proxies to overrun the city of Afrin. If full normalization with Egypt was now on the table, there was no reason why he wouldn’t give serious consideration to abandoning the Egyptian MB, who leaders have been living in Turkey since coup against President Mohammad Morsi eight years ago.
Assurances by Turkey
The Acting Guide of the Egyptian MB Ibrahim Munir came out to assure his followers on 20 March 2021, via the Doha-based al-Jazeera TV. He said that Turkey had no intention of withdrawing support or asking the MB to leave Turkish territory, asking his men to trust President Erdogan. When that statement did not sooth their worries, Erdogan’s adviser Yasin Aktay appeared on same television channel, denying reports of any divorce between his boss and the MB. This week, Turkish Foreign Minister Mevlüt Çavuşoğlu went a step further, issuing a third assurance, saying that his country did not approve of Egypt’s labeling of the MB as a terrorist organization. “We were against the coup in Egypt” he said, in reference to the 2003 toppling of Morsi, “not because it was the Muslim Brotherhood.” The Turkish minister added: “If Sisi was in office that day and somebody else had carried out a coup, we would shown the same principled stance.”
Despite all the above, the Egyptian MB realizes that its fate remains on the negotiating table between Turkey and Egypt just like it was on the Saudi-Qatari one. The Emir of Qatar Tamim Bin Hamad had famously refused distancing his country from the MB, sustaining three years of boycott by Saudi Arabia and the UAE. Their condition for lifting the siege was to expel members of the MB from Doha (including members of its Palestinian branch Hamas), stop supporting Islamic groups across the region, and moderate the editorial policy of al-Jazeera. That did not work, however, and Qatar returned to the family of Gulf nations last year, without having to fulfil any of those demands. Turkey is not Qatar, however, and has none of the financial means that allow its leader to defy the world for the sake of the MB. Its only strength is the ideological affiliation between Erdogan’s Justice and Development Party (AKP) and the MB, with the Turkish leader himself being a former member of the Muslim Brotherhood.
One blow after another
Last April the MB suffered a heavy blow when their ally in Sudan, President Omar al-Bashir, was overthrown by popular revolution. Two months later, Saudi Arabia used its heavyweight influence to convince King Abdullah II into closing the main branch of the MB in Jordan. That was a major setback for the MB, who had relied heavily on Jordan for their Middle East network, given that the Hashemite Kingdom was the one country where MB activities were legalized by the state and in which they were active both within the state apparatus and throughout civil society. The MB had been eying Amman as a Plan B, when and if they were asked to leave Qatar or Turkey. In December 2019, they scrambled to host a conference on the Dead Sea, showering King Abdullah with praise. That was just weeks after The Wall Street Journal broke the story of an unannounced visit by Qatari Foreign Minister Mohammad Bin Abdulrahman Al Thani to Riyadh, discussing ways to improve Qatari-Saudi relations, at the expense of the MB.
Jordan is now obviously not an option for the MB. Everywhere else in the region, they are regarded as outcasts and outlaws, from Syria and Saudi Arabia to the UAE and Bahrain. They have zero chance of succeeding in a country like Lebanon, due to the towering presence of secular Sunnis like Saad al-Hariri and powerful Shiites like Hasan Nasrallah. That leaves them with Gaza, which they have ruled, via Hamas, since 2007. But that fiefdom might soon end, however, as Palestinians go to the polls to elect a new parliament and president. The Deal of the Century forced Hamas to temporarily reconcile with Fateh, which might lead to a power-sharing formula and eventually, and end the separation of Gaza. If that happens, then it would leave the MB with no options to turn to but Qatar and Turkey—their traditional safe havens since 2011. It would make the group increasingly reliant on Erdogan willing—perhaps more than ever—to answer to his beck and call. Muslim Brotherhood
Sami Moubayed levant
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BENEFIT AGM approves 10%...
- March 27, 2025
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.
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