The Swinging Dreams of Turkey in Syria
April 4, 2025, 4:34 pm

Ali Al-Amin Al-Sweid

Those following the Syrian scene are puzzled by the reasons behind the Turkish-Israeli rush and competition over Syrian territory. Despite the strong security, strategic, and economic ties between Turkey and Israel—especially during the era of the Justice and Development Party under President Recep Tayyip Erdoğan—a hidden rivalry comes to the forefront, particularly in the Syrian context. What is the secret behind this tension? Why is Israel escalating military actions against sites believed to be utilized by Turkey?

The Project of Turkish Guardianship in Syria for Years

Turkey has sought to impose guardianship over Syria through agreements with the fallen Syrian regime, allowing it to control state mechanisms politically, militarily, and economically, under the pretext of fighting terrorism represented by the Kurdistan Workers' Party and the Islamic State organization. Erdoğan has repeatedly offered to meet with Assad, hoping to persuade him to enter a Turkish axis in exchange for maintaining his power. However, the regime's obstinacy and subjugation to Iranian influence thwarted Turkish ambitions, prompting Ankara to apply indirect military pressure through Hayat Tahrir al-Sham. At the beginning of last year, Hayat Tahrir al-Sham moved in a way that misled the Syrian regime into believing that the opening of front lines in Idlib was imminent, forcing Russia to call for the Astana Conference 23.

The Game of Escalation and De-escalation

Turkey responded with a façade of de-escalation, informing Hayat Tahrir al-Sham that it would not accept its wounded in the event of an attack, which led the group to retreat. Afterwards, a stalemate ensued, and Turkey returned to attempt to exploit Syrian weakness to impose its control. However, the Assad regime once again ignored Ankara, with Assad personally humiliating Erdoğan publicly. At that point, Turkey pushed Hayat Tahrir al-Sham again toward the regime's fronts in the north and east, successfully advancing after the collapse of the regime's defensive lines, leading to an urgent movement from the Russia-Iran-Turkey axis, opening the door for the group to advance toward Damascus, resulting in the swift downfall of the Assad regime.

Turkey After the Regime's Fall

Turkey immediately announced its support for the new government led by Ahmad al-Shara, seeking to solidify its presence through exceptional relations and maritime boundary demarcation. This move alarmed the Europeans, who tried to pressure the new Syrian government with promises of lifting or reinforcing sanctions. However, despite the official fall of the regime, the ground reality did not change much. Israel continued its airstrikes, the Syrian army remained weak, and the new government did not issue any clarifications. Meanwhile, Turkey began to move freely in Syria without officially announcing agreements with Damascus.

Turkey's Economic Objectives

These moves reveal clear economic objectives:
- Controlling exploration and extraction operations via Turkish companies like the Turkish Petroleum Company or through contracts with foreign companies under Turkish conditions. Turkey may seek to renegotiate previously signed contracts with Russia and Iran to share profits.
- Redrawing maritime borders in favor of Turkey, as it did with the Libyan Government of National Accord in 2019, when it signed a memorandum of understanding to delineate exclusive economic areas, causing international disputes.
- Connecting Syrian gas to Turkish infrastructure by laying gas pipelines through Turkey to Europe or by attempting to incorporate Syrian gas into regional projects like the East Mediterranean Gas Forum, despite Turkey's exclusion from it.
- Using resources as a political leverage, much like it used the refugee issue previously; Turkey might use Syrian gas to exert political and economic pressure on Europe.

Regional Influence Struggle

Turkey's success in Syria means weakening Russia and Iran, transforming Ankara into a regional power controlling trade and energy in the Eastern Mediterranean. This is unwelcome by active Arab countries, Israel, and Europe. In conclusion, we face the pivotal question: Will Turkey give up its last opportunity to control Syria?

So far, all parties continue to execute their agendas in silence, despite repeated Israeli strikes and the absence of any official stance from the new Syrian government. Thus, it seems that Turkey is moving forward with its project, benefiting from the Syrian collapse, and is striving to become the new "giant of the East," despite all regional and international challenges.

Israeli Defense Minister Issues Warning to Damascus Regarding Hostile Forces Characteristics of the dictatorship of the Velayat-e Faqih!

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.