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Syria – Counting the Cost

The early phases of the war dominated the agenda of world leaders and even the period following President Assad’s Russian backed assertion of his control, the rise and rise of ISIS meant that people were reading about Syria from Washington to Tokyo. The emergence of a rough status quo over the past couple of years has pushed things into a narrative of the conflict being paused or even that a new balance of power has been established in the country.
This, very roughly, can be described as a Kurdish controlled northeast, a Turkish backed opposition controlled northwest and then the rest of the country under Regime control. The issue of the millions of Syria refugees has been lost to the narratives of Western states strengthening their borders and the chaos of other parts of the Middle East region, with Lebanon in particular descending into its own unique blend of chaos.
The Middle East region has been consigned to a different strategic status by the actualisation of the US ‘pivot’ towards a focus on the Asia region, it’s Pacific borders and of course the complicated competitive relationship with China. The long-standing Israel-Palestinian conflict and now the prolonged wars of Yemen and Syria now lack the attention and engagement they’ve had previously. The rise of the Gulf Powers, the emergence of a far more active Turkish regional policy and the questions around Iran’s place in the neighbourhood have become tier one factors in a region that is undergoing a strategic geopolitical shift.
Where does this leave the people of Syria who’ve not even been granted the attention of the UN in counting the dead over the last seven years? Whilst few would have been surprised that the conflict in Syria has led to hundreds of thousands of deaths, the logic and reasoning behind accurate recording of what has happened goes far further than just painting a picture as to war. The UN in their latest reports remind readers that the 350,200 number is statistically reliable but by no means the final tally.
What looking in more detail as to who has been lost to events provides families in Syria with closure and recognition as well as giving those searching for accountability a reliable touchstone of evidence. The arc of justice sometimes runs longer than people would hope but it relies on robust information to be realised. In addition to the dead are of course the missing. A 2021 UN report estimated that 100,000 persons are missing due to the conflict. In addition, the country has a legacy of missing and disappeared persons cases linked to human rights abuses and other causes that occurred prior to the decade-long conflict, and Syrians who have fled the fighting have gone missing along migratory routes.
The UN should commit to more regularly updates into the cost of the Syria conflict and should be resourced to be able to constantly consider new sources of evidence as to what exactly has happened. One day in the future we can almost imagine what a memorial to Syria’s conflict would look like. In the US memorials to the Vietnam war or the victims of 9/11 are meticulous in their naming of individuals who lost their lives to these periods of history.
The conflict in Syria has fractured both the Syrian state and its society. In many senses the damage to the state, with the devastated cities and infrastructure is more obvious that the harm done to society. A future in which it can effectively heal and reunite relies on a shared historical narrative. That history’s ability to be inclusive as to those who paid the ultimate price relies on accurate and detailed reporting that acknowledges the fate of individuals against the far wider tapestry of the war at large. The UN’s latest efforts may represent more than the tip of the iceberg but they mustn’t be seen as an end in and of themselves.
by: James Denselow

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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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