Temporary Suspension of Military Operations in Syrian Coast
The security disturbances in the coastal region reflect the failure of the Syrian Interim Caretaker Government to extend its control over areas with an Alawite majority
March 8, 2025, 9:49 pm

Temporary Suspension of Military Operations in Syrian Coast

الساحل السوري

The Syrian newspaper "Al-Watan" reported today, Saturday, quoting a military source saying that the military operation in the coastal region in the west of the country has been suspended, until the removal of elements not affiliated with the security and military establishment.

The source insisted on pursuing those carrying weapons.

The newspaper indicated, quoting a source from the Ministry of Defense, saying "After regaining control over most of the areas where remnants of the former regime spread corruption and crime, the Ministry of Defense, in coordination with the General Security Administration, announces the closure of roads leading to the coastal area, in order to control violations and prevent abuses and gradually restore stability to the region."

The source emphasized that "the Ministry of Defense had previously formed an emergency committee to monitor violations and refer those who exceeded leadership instructions during the recent military and security operation to the military court."

The Ministry of Interior of the Syrian Interim Caretaker Government announced that the General Security Administration in Latakia has deployed its elements throughout the city and is establishing temporary checkpoints with the aim of maintaining security and preventing violations by some civilians in the area.

Syrian media reported that negotiations are currently taking place with notables of Wadi Al-Oyoun in the Masyaf countryside, where an agreement was reached to establish points inside the city to establish security and safety, and to hand over those who recently caused the killing of security personnel and the Ministry of Defense, and fled to the area recently.

In a related context, the General Security Administration reported that it had confiscated quantities of various weapons and ammunition in the city of Latakia.

The coastal region of western Syria, which is home to a majority of the Alawite sect, has been witnessing bloody conflicts since last Wednesday, claiming the lives of dozens.

The security agencies of the transitional government announced that they are engaged in clashes with armed groups affiliated with former officer Suhail Al-Hassan, who was one of the most prominent army leaders during the rule of Bashar Al-Assad, the former Syrian regime president, and others.

The Director of General Security Administration confirmed the fall of dead and wounded among the security forces in attacks launched by groups from the remnants of the former regime in Jableh and its surroundings.

The Syrian Ministry of Defense of the Syrian Interim Caretaker Government clarified on Friday evening that it had developed a strategy to control the situation with the aim of not expanding operations inside cities in order to preserve the safety of their residents.

These events reaffirm the failures of the centralized governance system applied by Assad's former regime, which placed the country's resources in the hands of a limited group, leading to many sectarian and regional tensions that are manifesting today in the coastal areas.

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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.