Israel seeks to strengthen ties with Russia to limit Turkish influence
March 2, 2025, 10:45 am

Israel seeks to strengthen ties with Russia to limit Turkish influence

علما روسيا وإسرائيل

The newspaper "Yedioth Ahronoth" revealed that Israel is working to strengthen its relations with Russia, aiming for the broader goal of curbing Turkish influence in Syria.

The Israeli newspaper explained that Prime Minister Benjamin Netanyahu has sent his military secretary, Roman Gofman, to Moscow in recent days for a series of security and diplomatic meetings aimed at enhancing cooperation with Russia to "protect Israel's strategic interests."

Gofman, who returned from Moscow on Friday, is considered one of Netanyahu's closest advisers and has undertaken similar covert missions in other locations over the past weeks.

The newspaper states that Israel's stance on Syria has become increasingly clear; it prefers Russian influence over a foothold for Turkey and is actively working to limit Ankara's influence in its neighbor.

On another front, Israel is also deeply concerned about "entities that are strengthening their power in post-Assad Syria," considering them hostile to Israel.

Netanyahu has already ramped up pressure in this direction, publicly calling for disarmament in southern Syria.

According to Reuters, Israel urges the United States to ensure that Syria remains "weak," including allowing Russia to maintain its military bases there to counter Turkey's efforts to form a security alliance with the new authorities in Syria.

Turkish President Recep Tayyip Erdoğan is expected to host his Syrian counterpart, Ahmad al-Shar'a, with discussions focusing on the establishment of Turkish military bases, training reformed Syrian armed forces, and securing the country's airspace, according to "Yedioth Ahronoth."

Israel views these developments as a direct threat and is working to thwart them, preferring Russian presence in Syria over Turkish influence.

Following the fall of the Assad regime, Israeli forces have advanced significantly into Syrian territory after the disbanded army withdrew from its bases.

During a graduation ceremony for Israeli army officers last week, Netanyahu reiterated the necessity of an Israeli military presence in key areas of Syria and Lebanon.

He stated, "We demand complete disarmament in southern Syria from the new regime's forces, and we will not tolerate any threats to the Druze population in southern Syria."

The statement particularly referred to the Jaramana suburb southeast of Damascus, which has a high population density and a Christian and Druze majority, where one person was killed and nine others injured on Saturday in clashes between Druze gunmen and security forces from the new authorities, according to the Syrian Observatory for Human Rights.

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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.