Land subsidence is a serious threat to large areas of Iran
October 15, 2021, 9:48 am

Land subsidence is a serious threat to large areas of Iran

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One of the serious crises that Iran is currently facing is the issue of land subsidence. It has gone unnoticed among political crises such as the Vienna nuclear talks, conflicts with other countries such as the United States, Israel, Azerbaijan, Turkey, Afghanistan, Saudi Arabia, and other Persian Gulf countries, as well as economic crises, such as inflation above 50%, skyrocketing prices, unemployment, poverty and public dissatisfaction inside Iran.

But according to the “Intel Lab research institute”, this phenomenon is like a "slow and silent ticking bomb" around Tehran and " thus endangering a growing population of 13 million inhabitants and its critical infrastructures." Based on this analysis, with 36 cm of subsidence per year, Tehran ranks first in the world.
According to Ali Saberi, an environmental expert, in an interview with the Social Group’s Human Habitat reporter of the Young Journalists Club, Iran's land subsidence is much more critical than other countries.

Of course, the most important reasons for this problem are the mismanagement of water resources and the unprincipled and illogical exploitation of these resources by digging deep wells without control by agricultural and industrial institutions affiliated with the regime officials, especially the Revolutionary Guards Corps (IRGC).

The intensity of subsidence in some plains of Iran, including Tehran, is at least 90 times higher than the most critical conditions in developed countries.

Mohammad Javad Blourchi, director of Geology, Engineering, Hazards and Environment of the Organization of Geology and Mineral Explorations of Iran, says, "The rate of land subsidence in the world is usually 4 mm per year, and in developed countries, this rate is considered critical." However, the trend of subsidence increase in Iran is such that in parts of southwestern Tehran, has reached an annual rate of about 36 cm, which is a global record. Based on this rate, the ground level in these areas will decrease by 3.6 meters in the next 10 years.

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According to experts, land subsidence is even more harmful than earthquakes. Because when an earthquake occurs in a city, it is finally rebuilt after a few years, but a city that is destroyed by subsidence and its aquifer is drained can no longer be rebuilt no matter how much energy and investment is spent.
In addition to the irreversible destruction of the underground resources, this subsidence could lead to accidents and catastrophes in critical infrastructures such as refineries, power plants, energy transmission lines such as gas & electricity, transportation facilities, railways, airports, bridges, roads, industries, and factories.

In such conditions, underground gas, sewage, and water pipes and on the ground surface of urban areas such as residential and office structures, roads, rails, canals, etc. may get damaged or even destroyed under the pressure of these bends.

Today, the plains that have split or sank are the result of ineffective programs implemented in these regions over the past 20 years; under the pretext of economic development that has not resolved any serious economic benefits for Iranians. Because currently 90% of Iran's water capacity is spent on agriculture, which provides only 17% of the country's employment. On the other hand, only 2% of water is consumed in the industrial sector, while 50% of employment is in this sector.

These days, the extent of the destruction of this subsidence in some parts of Iran, such as Isfahan, is more evident than in other parts due to the destructive policies of the regime and the drying up of the main water source of this province, the Zayandehrud River.

According to Isfahan Geological Survey’s statistics and information, 10% of this province’s total area is affected by land subsidence.
Many historical monuments in Isfahan, such as Khajoo Bridge, Wooden Bridge, and Naghsh Jahan Square, have suffered deep cracks and are in serious danger of destruction. Also, the gap caused by this subsidence has reached near the runway of this city’s airport and according to some sources, it has tilted the control tower of the airport by 3 degrees.

The air force town located in the Khaneh area of Isfahan, where 6,000 people used to live, had to be evacuated due to subsidence and is now uninhabited.

Isfahan media is now full of names and photos of new neighborhoods and historic buildings in the city that have suffered major cracks due to land subsidence.

In an interview with ISNA, Dr. Ali Beitollahi, director of the Earthquake and Risk Department of the Road, Housing, and Urban Development Research Center, stressed that the Ministry of Energy and the Ministry of Jihad for Agriculture are among the main culprits. According to him, if the officials of these two institutions knew about the phenomenon of subsidence, they should not have caused it by allowing the improper use of groundwater, and if they did not know, it is unfortunate that the main authorities of the country are unaware of this phenomenon.

Mohammad Javad Blourchi, a geologist and former spokesperson for the Geology Organization, said: "I think today is too late to think about restoring our aquifers and underground aqueducts because we have destroyed the aquifers of the country's plains and the subsidence has destroyed the cavities that form the aquifer. It was our great concern and we had been shouting for years but no one was paying attention.

by: Cyrus Yaqubi

Cyrus Yaqubi is a Research Analyst and Iranian Foreign Affairs Commentator investigating the social issues and economy of the Middle East countries in general and Iran in particular.

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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.