Can the sixth round of the Syrian Constitutional Committee make difference from the previous ones?
October 23, 2021, 7:46 am

Can the sixth round of the Syrian Constitutional Committee make difference from the previous ones?

Zara saleh

Since the end of the fifth round of the UN-led Syrian Constitutional Committee (SCC) on January 29, the Special Envoy for Syria Geir Pedersen has needed more than nine months to launch the sixth round of the Syrian marathon talks in Geneva. On Sunday 17th of October, for the first time, Geir Pedersen achieved his only 'success' in Geneva-led Syrian negotiations after the failure of the five previous rounds without any notable changes for the last two years of his ‘impossible mission’.

The two committee co-chairs of the Syrian opposition representative, and the Syrian regime's side has sat down together with the UN Special Envoy on the day before the beginning of the sixth round. Furthermore, both sides finally agreed to discuss the constitutional texts and to start the drafting process for the constitutional reforms.

Arguably the Syrian regime has agreed to attend the sixth round due to the Russian influence and pressure despite the fact that Assad's regime continues to postpone any real progress in the work of the SCC. Such a position has been more obvious after Assad's meeting with Russian President Putin in the middle of September. However, both delegations have presented their constitutional draft regarding the constitutional text, like the regime's representatives presented the principle of the "sovereignty, terrorism, independence and territorial integrity of the Syrian Arab Republic". Whereas, the opposition's side has been focused on the principle of the army, armed forces, security, and intelligence. Added to that, the representatives of the civil society organisation have presented the principle of the rule of law during the meetings days in Geneva.

The UN Special Envoy Geir Pedersen believes that the Syrian conflict cannot be ended only through the Constitutional Committee, it will need a long-term process of implementation of the UN Resolution 2254, and the four baskets of the transitional political process. The outcomes of this round of the Syrian Constitutional Committee has been similar to the five previous rounds of negotiations.

During the first two days of the meetings, the regime's draft has ensured the same position that blocking any further discussion or making any real changes in the constitutional texts and again trying to return back to the first square. For example, in the draft text of the Syrian regime's article, it says: "The Syrian Arab Republic is a part of the Arab world, proud of its Arab identity".

That means the regime continues its policies of power sharing and the Arabisation process as usual and denies the nature of the Syrian components as a country with multi-ethnic and cultural. As a result, according to the regime's constitutional texts, all nations or ethnicities and cultures who live in Syria are Arab including Kurds, Syriac, and other minorities. Moreover, the three guarantors of Astana peace talks for Syria, Russia, Turkey, and Iran, who were behind the constitutional committee meetings, in reality, at the same time still considers as the conflicting parties on the ground in Syria, and they have used the Syrian parties in favour of their political interests and agendas. Consequently, the outcomes of this round of the SCC cannot contribute to any notable changes in the political situation in Syria and on the ground as well.

by: Zara Saleh

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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.