Normalisation ties between Erdogan-Assad: Al-Nusra Front now in Afrin
October 15, 2022, 3:57 pm

Normalisation ties between Erdogan-Assad: Al-Nusra Front now in Afrin

Zara Saleh1

Last Thursday, the extremist group of Al-Nusra Front, well-known as "Hayat Tahrir Al-Sham", the Syrian branch of Al-Qaida, took control over the occupied Kurdish city of Afrin. The Kurdish areas of Afrin were occupied by Turkey and the Syrian opposition groups that were backed by Turkey since 2018. According to the Britain-based Syrian Observatory for Human Rights, Hayat Tahrir Al-Sham (HTS), which controls most of the Idlib province, began clashes with Turkish-backed jihadist Faylaq Al-Sham (Al-Jabha Al-Shamia) in Afrin after these groups withdrew from the city.

After the HTS group have taken over the northwest of Syria, many civilians are afraid of the increase in abuses and violations, and the displacement began from the areas that had been taken over by the jihadist of HTS. Arguably, the plan to hand over Afrin to Hayat Tahrir Al-Sham after the withdrawal of the Syrian National Army (SNA) backed by Turkey, has not been a sudden plan of a fight between the militia group of HTS and SNA.

Such has been expected recently after the Russian plan to normalise the relationship between Ankara and Damascus. On the other hand, Turkish President Erdogan has agreed with the Russian plan following his failure to launch a new military operation against the Syrian Kurds and the Syrian Democratic Forces (SDF).

Added to that, both countries, the US and Russia, have refused to give a green light to Turkey to begin new operations against Kurds that could affect the stability of the region and the military plan against ISIS. After he failed to win Putin’s blessing, Erdogan appeared to reach for diplomacy with Syria.

Following their long-term security level negotiations, Ankara and Damascus have agreed with Moscow's plan of normalisation of their official relationship as this new U-turn would definitely fulfil their agendas and interests. On the one hand, Erdogan is facing new elections next year, in which the anti-refugee campaign led by his opponents of the Turkish opposition and Erdogan wants to retake this card from them through his plan, to send a million Syrian refugees back to Syria. Secondly, Erdogan is seeking Assad's regime's support to deal with the Syrian Democratic Forces considers as a PKK-affiliates group in Syria. On the other hand, Assad has approached to retake control over the Idlib province, which now is under Turkey and HTS control, and eventually Assad is seeking to regain control over all Syrian territories including Afrin. Furthermore, the Syrian regime is sharing the same "Kurdish Phobia" with Turkey, where they desire to take over the areas that are controlled by the SDF. In fact, both regimes are pleased that all north and northeast Syrian borders are not under Kurdish control.

Consequently, handing over Afrin to HTS, a radical and extremist group that is already on the terrorist list, would be the first step of the Russian plan for normalisation ties between Erdogan and Assad. Eventually, the terrorist group of HTS, which is in fact an Al-Nusra Front or Al-Qaida, and similar to ISIS as well, will be an easy target for Russia and the international coalition 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.