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Syrians Forgotten to Geopolitics

Syria is today considered a ‘frozen conflict’, despite the regular airstrike or bombing the contours of over ten years of fighting seem to have hardened to the point of predictability. The Astana Process brought together Russia, Turkey and Iran and in the absence of US concerns beyond ISIS, these regional powers managed to sketch out a semi stable status quo. Critically within this equation the agency of Syrians themselves has been far diminished.
In Damascus President Assad has essentially mortgaged his country and is beholden to foreign allies before even his traditional authoritarian methods. The country’s eagerness to recognise the separatist republics in Ukraine at the behest of its Russian ally is a typical example of this supercharged loyalty. Meanwhile in the northwest anti-Assad opposition has a history of reliance on Turkey for strategic depth, logistics and in more recent years military and diplomatic protection. In the northeast the Syrian Democratic Forces has endured the uncertainty as to whether President Trump would withdraw but not face a new and potentially existential dilemma.
Talk of rapprochement between Ankara and Damascus is in the air. Turkey has no preconditions for dialogue with Syria but any talks should focus on security on their border, Foreign Minister Mevlut Cavusoglu said earlier this month. President Assad’s staying power has allowed him to stay in power despite the country burning for long enough for the geopolitics of the world to shift to allow him back into the fold it would seem, with a raft of consequences for those who would continue to oppose him.
This week saw the Syrian opposition forced to deny a report by Iran's semi-official Tasnim News Agency that claimed the Syrian opposition was asked to leave Turkey during a meeting with Turkey’s Foreign Minister Mevlut Cavusoglu. A CNN article described the fate of millions of Syrian refugees in Turkey as hanging in the balance amid fears that they may become pawns in the country’s changing politics. President Erdogan revealed this month that Putin had asked him during their talks in Sochi on August 5 to cooperate more closely with Assad on security matters, something the Turkish leader stated he was already doing on the level of intelligence contacts.
The optimistic view of events is that Turkey’s good offices and diplomatic clout with the actors in the conflict can help navigate a path towards effective peace talks between the Syrian opposition and Damascus. In previous years UN efforts have failed to bring a genuine engagement from Damascus on this front and processes of constitutional reform in particular seem to have been a charade. Could Turkey’s vision of ‘safe zones’ in the north elicit commitments of devolved government by opposition actors within a new federated Syria? Perhaps but in the absence of trust and considering the character of Assad himself it would seem unlikely.
Instead, the more cynical realists would predict that if Syria’s opposition loses its key regional backer, then their future looks bleak. Turkey’s priorities were alluded to by Cavusoglu who explained that “the country needs to be cleared of terrorists... People need to be able to return." Turkey’s recent economic crisis has shone a sharper light on the future of the large number of Syrians who have been forced into the country.
Erdogan and Assad have a history longer than most world leaders. In 2009 Erdogan, then prime minister of Turkey, hosted Syria’s President Bashar al-Assad for a family holiday in the Aegean resort of Bodrum as relations between Turkey and Syria soared to new heights. Trade and diplomatic relations flourished at that time, something that Erdogan will be conscious of, and the border between the two countries was characterised by free trade crossings allowing the speedy movement of people and vehicles as opposed to the expensive security barriers we see there today.
Yet this relationship soured when Syria’s civil war began, and the Turkish President described Assad as a “terrorist involved in state terrorism”. Famously American Diplomat Henry Kissinger reminded people that “America has no permanent friends or enemies, only interests”. The geopolitics of this moment, with the eyes of the world far away from Syria’s frozen conflict have meant that what happens to the Syrian opposition and the millions of Syrians inside Turkey relies on what Ankara’s strategic vision for them is. Whether the anti-government armed groups inside Syria will go along with this is a different question and the certainties of the last year of so may soon be a thing of the past if Ankara and Damascus relations continue to warm.
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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