Khamenei's Pick for the presidency
May 16, 2021, 7:54 am

Iran’s Presidential elections

Finally, after much speculation, Khamenei favoured Ibrahim Raisi as his choice for the upcoming presidential election and put an end to all the ambiguities and rumours about the president he wishes to install. He had already prepared the grounds for this election on April 21. On the one hand, a letter was sent by 220 members of the parliament, affiliated with his faction, asking Ibrahim Raisi to run for the presidency . On the other hand, he had eliminated potential rivals such as Hassan Khomeini (grandson of Ruhollah Khomeini) by advising him not to think of running for the presidency.

On several occasions in the past, Ibrahim Raisi had denied his willingness to run to play the game, but finally, on May 15, he agreed to bring this game to an end and announced his candidacy.

In reality, Khamenei's most favourite candidate for the post would have been Qassem Soleimani, who was killed by American drones in Iraq. With Soleimani gone, Khamenei had no other choice than Ibrahim Raisi, who was appointed by himself as the head of Iran's judiciary only about two years ago. There are still three years left of Raisi's head of judiciary. Putting these facts together reveals the fact that Khamenei is in fact, in a deadlock and deep crisis. According to informed observers, given Khamenei's 82-year-old condition, he is unlikely to see the end of the next four-year presidency, and he will have to choose someone to replace him as the new Supreme Leader. Of course, for some time now, the issue of combining the role of the supreme leader with the presidency has been raised among some of the regime's leaders, and the election of Raisi to the presidency paves the way for this idea to materialize. One of the reasons Khamenei is currently opposing the ongoing JCPOA talks in Vienna is that he wants these talks and agreements to occur during the next president's time and the success of the talks go to the new president, Raisi.

But Ebrahim Raisi, who ran for president four years ago, is hated by the people for his direct involvement in the massacre of 30,000 political prisoners in the summer of 1988, most of whom were members and supporters of MEK. Because of Raisi's role in the 1988 massacre, he is referred to as Ayatollah Death; he could not get this seat in the last presidential election. His involvement in the crime was so obvious that even Hassan Rouhani mentioned it in his election speech 4 years ago, saying that Raisi had done nothing but issue death sentences, imprisonment and torture in the past 38 years.

But since Ibrahim Raisi was one of Khamenei's most trusted figures, shortly after his defeat in the previous presidential election in March 2019, he was appointed as the head of the judiciary by Khamenei, one of the three main positions of power in Iran after the Supreme Leader. Raisi's appointment was considered as another step Khamenei had taken to bring his regime to more cohesiveness. In reality, Raisi was appointed to use his legal power and influence to eliminate any opposition of any form and shape. It is as if, in this short period of time, many dissidents who had done nothing but criticize Khamenei were sentenced to long prison terms, and a large number of political prisoners and dissidents were executed. The dramatic increase in verdicts against political and civil activists during his tenure as head of the judiciary indicates a widespread wave of repression of civil society and critics in Iran. It is good to note that just in the first six months of Ibrahim Raisi, as the head of the judiciary, judges have issued about 1,000 years prison terms and 1,400 lashes for civil and political activists. Raisi's reign as the head of the judiciary has resulted in a 120 percent increase of repressive verdicts and sentences over the same period last year.

It is noteworthy that the government structure of the mullahs is similar to the structure of the Mafia, and they strengthen this structure with family ties. For example, the wife of Ibrahim Raisi is the daughter of Alam al-Huda, the Friday prayer leader of Mashhad the second-largest city in Iran. This makes Raisi, Alam-al-Hoda's son-in-law. Alam al-Huda was elected to this position by Khamenei in 2006. A year later, Alam al-Huda was elected as a member of the Assembly of Experts. In March 2016, he was appointed as Khamenei's representative in Khorasan Razavi in order to have full authority in this province. And now, his son-in-law is set to take over the presidency and become the Supreme Leader in the next step.

But the fundamental question among experts is whether the appointment of Ibrahim Raisi as president can save the regime from this dangerous situation that many say is on the brink of collapse. In a situation where most people are planning to boycott the elections because of their hatred of the government, and with slogans such as "We have heard too many lies, we will not vote anymore" or "Our vote is overthrown," the people have already expressed their views on not only the presidency but in relation to the whole system, regime change.

by: Cyrus Yaqubi

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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.