Hezbollah Monitors Fate of Its Centers in Aleppo Amid Rapid Developments
Lebanon faces dual challenge between implementing Resolution 1701 in the south and monitoring northern developments, placing additional pressure on its security and military capabilities
November 30, 2024, 10:46 pm

Hezbollah Monitors Fate of Its Centers in Aleppo Amid Rapid Developments

طريق حلب - غازي عنتاب

Hezbollah and Lebanese political forces are anxiously following developments on two hot fronts: implementing the ceasefire agreement in the south according to Resolution 1701, and the raging battles in Aleppo and Idlib in the north, fearing their spread toward the Lebanese-Syrian border, especially amid growing concerns about their security and humanitarian implications.

Informed sources revealed to "Al-Arabiya.net" and "Al-Hadath.net" that Hezbollah leadership is closely monitoring events in Aleppo, given their connection to the fate of military facilities belonging to Hezbollah and Iran's Revolutionary Guard in its vicinity, particularly after Syrian Democratic Forces temporarily controlled the predominantly Shiite towns of Nubl and Al-Zahraa north of the city.

The militants' use of attack drones, similar to those used by Hezbollah in its operations, raised questions about the sources of these technologies and their impact on regional power balances.

Lebanese officials, regardless of their positions on Hezbollah, face growing fears about the possibility of armed elements infiltrating Lebanese territory through the northern border and meeting with dormant cells comprising Syrian and Lebanese elements, especially given Hezbollah's inability to send reinforcements to support the Syrian regime as it did previously.

These fears are compounded with most Lebanese army forces engaged in the south implementing Resolution 1701, potentially leaving a security gap on the northern border at a sensitive time.

Border towns in the Wadi Khaled and Akkar regions are witnessing an increasing influx of Syrian refugees, with over 1,000 people crossing daily through informal crossings, according to a local deputy's statement, expecting these numbers to rise as confrontations in Aleppo intensify.

A Lebanese security source warned of the deteriorating humanitarian situation's implications in border areas, noting that infrastructure and basic services in Akkar and neighboring areas have become unable to accommodate more displaced persons.

Lebanese authorities face a complex dilemma in dealing with the refugee influx, especially with the difficulty of fully controlling borders due to their complex geography and social fabric interconnection between both sides.

Security experts confirmed that the biggest challenge lies in preventing armed elements from exploiting the humanitarian crisis to infiltrate Lebanese territory, emphasizing the need to enhance border security measures despite limited available resources.

Political analysts view the coincidence of the northern crisis with southern tensions as putting Lebanon to a difficult test of its ability to manage multiple crises amid fragile economic and political conditions.

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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.