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Iran’s Survival Depends on a Weakened Iraq

On August 28th, Iraq was so secure and stable that it was able to host a successful conference for regional and international leaders, under the title “Baghdad Conference for Cooperation and Partnership.” It was heartwarming to see Iraq regaining its leading role in the Middle East region by acting as a hub for cooperation between Arabs, Turks, and Persians. That is after eighteen years wherein Iraq’s wealthy and fertile land was abused as a ground for conflicts between these particular regional powers.
The Baghdad summit came at a very critical time for the Middle East region, which went through a state of panic, in the aftermath of the hastily and chaotic U.S. withdrawal from Afghanistan. The conference did not only push the regional leaders to put their differences aside and focus on addressing the potential security risks resulting from Taliban’s political rise in Afghanistan, but also confirmed Iraq’s importance as a front wall in the face of expected security threats thanks to its geographic location at the eastern gates of the region.
Over September and October, Iraq was pre-occupied with preparing for and mobilizing voters for the sixth Parliamentary elections, since 2003. Meanwhile, the state security forces and intelligence bureau continued their successful missions to trace and arrest ISIS terrorists. On October 11th, Iraqi Prime Minister announced the arrest of Sami Jassem Al-Jubouri, the former assistant of ISIS leader, Abu Bakr Al-Baghdadi. These were positive indications that Iraq is ready to enter the new era as a strong state, after the completion of parliamentary elections in October. The electoral process went smooth, albeit with a relatively low voter turnout of 43%.
However, since announcing election results on October 21st, the country has gone into a state of chaos that has been rapidly escalating into armed confrontations. Protests erupted around Baghdad in disapproval to the results of the elections. The Iran-backed militia, which is widely spread all over Iraq, are the main organizers of the protests. Some observers justified that by them being angry because their politicians lost a few of their formerly held seats to Muqtada Al-Sadr’s “Sadrist List,” which won the majority of the parliament. But that is not a reason good enough for protesting, simply because despite losing a few seats, the Iran-backed politicians still have the upper hand in naming the future Prime Minister, according to the Iraqi political systems which favors certain political blocs and coalitions.
Apparently, the protests organized by the Iran-backed militia had another purpose, which is instigating chaos that prevents Iraq from pursuing with building a strong state, that is not dependent on Iran. Hence, the protests which started as peaceful rallies against election results have quickly turned into violent clashes between protesters and security forces, leaving more than one hundred people injured and killed from both sides. After about two weeks of violent riot, the state managed to control the situation as the Prime Minister, Al-Kadhimi, promised to hold those who committed violence, either protesters or security personnel, accountable and confirmed state’s respect to people’s right to protest.
Yet, in an unexpected escalation on November 7th, the Prime Minister’s house, which is located at the high-security Greene Zone in Baghdad, was targeted with a drone attack. Luckily, Al-Kadhimi survived the attack, but six of his guards were injured and parts of his house got damaged by the explosives loaded on the drones. Ironically, this is the first assassination attempt in history to happen using a loaded drone, but this is a topic for another article. What matters for us, here, is that this drone assassination attempt offers evidence on the hidden hands behind the recent security chaos in Iraq. The dirty hands that plotted the violent protests and the Prime Minister’s assassination attempt, are the same dirty hands that assassinated more than thirty Iraqi political activists, in the past year. It is the Mullah regime in Iran.
The only two actors, perhaps in the entire world, who hate to see Iraq prosper again as a strong coherent state, are the Islamic State (ISIS) terrorists and the Islamic Republic of Iran. The common aspect between the non-state actor, ISIS, and the state of Iran, in this particular case, is that Iraq’s political instability and lack of security is the only guarantee for their survival and even flourishing. By abusing the wealth under the hands of a weakened Iraqi state, Iran managed, for years, to survive unbearable economic pressures by the United States. In that sense, Iraq’s re-emergence as a strong state with an important regional role to play means the fall of the last lifeline that the Mullah regime in Iran is hanging to. Ironically, the complete collapse of the Iraqi state is also harming to Iran. Therefore, all Iran’s interventions in Iraq are focused on achieving the goal to keep the Iraqi state existent but too weak to independently operate.
For Iraq to escape this tragic fallback into chaos, and pursue its endeavors to recover from two decades of bloody conflicts that mostly have nothing to do with Iraq itself, the Iraqi state has to first identify the internal and external parties that benefit from preserving Iraq’s misery and hold them accountable. Meanwhile, it is time for influential countries in the Middle East region to give a helping hand to the Iraqi state in its mission to clean its home from the dangerous elements that had been gnawing its walls for years. Ensuring Iraq’s stability has become even more crucial for preserving Middle East security, especially after the United States’ withdrawal from Afghanistan and the re-rise of Taliban.

BY: Dalia Ziada
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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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