Pentagon chief arrives in Baghdad amid US pullout from Syria
October 23, 2019, 7:31 am

Pentagon chief arrives in Baghdad amid US pullout from Syria

Esper is expected to meet his Iraqi counterpart as well as Prime Minister Adel Abdul Mahdi and discuss the US troop drawdown from Syria. (File photo Reuters)

US Defense Secretary Mark Esper arrived in Baghdad on Wednesday, amid questions about how long US troops withdrawing from northeast Syria will stay in Iraq.

The Iraq military said on Tuesday that US forces crossing into Iraq as part of a pull-out from Syria do not have permission to stay and can only be there in transit.

While Esper initially told reporters the troops withdrawing from Syria would go to western Iraq to fight Islamic State and “help defend Iraq,” he said on Tuesday that Washington aimed to eventually bring the troops back to the US.

Esper is expected to meet his Iraqi counterpart as well as Prime Minister Adel Abdul Mahdi and discuss the US troop drawdown from Syria and the role Iraq will play in it.

“Our key priority with Iraq is encouraging the continued secure, stable, independent Iraq,” a senior US defense official said.

Esper’s trip also follows an agreement on Tuesday between Ankara and Moscow that Syrian and Russian forces will deploy in northeast Syria to remove Kurdish fighters and their weapons from the border with Turkey.

Hours after that deal was announced, the Turkish defense ministry said the US had told Turkey the withdrawal of Kurdish militants was complete from the “safe zone” Ankara demands in northern Syria.

The Russia-Turkey agreement struck in the Black Sea resort of Sochi endorses the return of Syrian President Bashar al-Assad’s forces to the border alongside Russian troops, replacing the Americans who had patrolled the region for years with their Kurdish allies.

President Donald Trump decided earlier this month to withdraw all 1,000 US troops from the region, a move widely criticized as a betrayal of Kurdish allies who had fought for years alongside US forces against Islamic State.

Since then, the Pentagon has said the Trump administration is considering keeping some troops in northeastern Syria to help ensure Islamic State and others do not profit from oil fields in the region.

Any decision to keep additional US troops in Iraq is likely to be heavily scrutinized in a country where Iran has been steadily amassing influence.

Iraq is in the midst of a political crisis.

Protests over high unemployment, poor public services and corruption erupted on Oct. 1, prompting a violent security crackdown.

Protesters blame graft and infighting among political leaders for failing to improve their lives even in peacetime, two years after Islamic State was declared defeated in Iraq.

“Iraqi politics are in a delicate state. There’s no Iraqi support for the country becoming a principal US garrison in the Middle East,” said Jon Alterman, Middle East expert at the Center for Strategic and International Studies.

However, Baghdad did not want to alienate Washington, which has been a key ally in fighting back Islamic State militants over the past five years, Alterman added.

The additional US troops would add to the roughly 5,000 publicly acknowledged American troops already based in the country, training Iraqi forces and helping to ensure Islamic State militants do not make a comeback.

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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.