Damascus-QSD Agreement Continues Despite Rumors of Its Collapse… Ilham Ahmed: 'A Start for Broader Understandings'
The new understandings emerge as an attempt to improve living conditions for civilians in the Sheikh Maqsoud and Ashrafiyah neighborhoods, while ensuring their representation in decisions related to s
April 7, 2025, 7:14 pm

Damascus-QSD Agreement Continues Despite Rumors of Its Collapse… Ilham Ahmed: 'A Start for Broader Understandings'

أحمد الشرع ومظلوم عبدي \ متداولة

The Media Directorate in Aleppo denied circulating reports about the suspension of detainee exchanges between the Aleppo Security Directorate and the Syrian Democratic Forces (SDF), confirming that the agreement continues as per the scheduled timeline.

A source from the directorate, as reported by Syria’s official news agency SANA on Sunday, stated that security and logistical arrangements are currently underway to resume exchanges in the coming days—a step reflecting the seriousness of the involved parties in implementing the agreement despite challenges.

These statements came just two days after around 450 QSD fighters left Aleppo in a first batch, in accordance with the agreement stipulating the transfer of the Asayish forces in Sheikh Maqsoud and Ashrafiyah to the Public Security Forces under the Autonomous Administration.

According to Syrian sources, the agreement includes the release of 170 SDF detainees and nearly 400 detainees from the Public Security Administration and other factions—a significant step toward normalizing the situation in the region.

Last Friday, Aleppo witnessed the beginning of the QSD withdrawal, with the first military convoy heading east of the Euphrates under the supervision of the Syrian Ministry of Defense. Meanwhile, Syrian Army units deployed around areas previously under QSD control to secure the departing convoy.

It is worth noting that the Syrian presidency announced on March 10 the signing of an agreement integrating the SDF into state institutions, reaffirming Syria’s territorial unity and rejecting division. The agreement was signed by Acting President Ahmad al-Shar’a and SDF Commander Mazloum Abdi.

Ilham Ahmed, the Co-Chair of the Foreign Relations Office of the Autonomous Administration of North and East Syria, praised the agreement signed in early April in Aleppo, describing it as a new experiment in Syria’s reality that could lead to "building a decentralized, pluralistic state ensuring the return of displaced people and ending armed conflict."

Ahmed called the agreement "positive," stressing that residents of the two neighborhoods had suffered for years from siege and lack of services, and that this understanding would improve their living conditions and provide a more stable environment.

She clarified that the agreement tasks the Asayish forces with protecting the two neighborhoods post-military withdrawal, calling it a necessary step to safeguard civilians from the repercussions of armed conflicts.

She stated: "Protecting civilian lives is essential, and this requires security guarantees from all parties, including the Asayish and official authorities in Aleppo."

Ahmed noted that the local councils in the two neighborhoods would remain operational while initiating direct coordination with the Aleppo Governorate Council in service and health sectors—a civilian-led effort aimed at fair resource distribution.

She emphasized the need to expand such understandings to other parts of Syria and establish constitutional foundations protecting rights and freedoms to prevent the country from sliding back into conflict—highlighting the importance of building on this positive step.

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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.