Sa'ar Describes Erdogan as a Danger to the Region... Foreign Ministries of Both Sides Exchange Accusations
The mutual accusations between Israel and Turkey reflect the escalating tension between them, which may negatively affect the stability of the entire region. Their relations appear to be heading towar
March 31, 2025, 1:50 am

Sa'ar Describes Erdogan as a Danger to the Region... Foreign Ministries of Both Sides Exchange Accusations

The Israeli Foreign Minister stated in a post on the X platform: "Dictator Erdogan has revealed his anti-Semitic face. As is clear these days, Erdogan poses a danger to the region and to his own people. We hope that NATO countries understand this — and we hope that will happen sooner rather than later."

This statement comes amid escalating tension between the two countries, which has taken an unprecedented escalatory turn in recent days, especially with increasing provocative statements from the Turkish side toward Israel.

The Turkish Foreign Ministry issued an official statement in response, saying it "categorically rejects the provocative statement made by the foreign minister of Netanyahu's government."

The Turkish statement continued: "These disrespectful and baseless allegations are part of an attempt to cover up the crimes committed by Netanyahu and his partners."

The Turkish statement added: "This increases our concern that Israel will accelerate its genocidal policies in Gaza and intensify its actions aimed at destabilizing other countries in the region."

The statement concluded by saying: "The propaganda efforts of Israeli officials will not undermine Turkey's firm commitment to telling the truth. We will continue to stand by innocent civilians targeted by Israel and defend their rights."

The Israeli Foreign Ministry's page on the X platform responded by asking: "What bothered the Turkish Foreign Ministry? Here's a way to clarify the dictator's words: State clearly that Erdogan is not anti-Semitic, and that he is not an obsessive hater of the Jewish state. Everyone knows what Erdogan has done to nations and peoples in the region - from Cyprus to Syria. Everyone sees what he is doing to his own people (and to Pikachu). And everyone hears what he wants to do to the Jewish state. The true face has been revealed to everyone."

Turkish-Israeli relations have witnessed a notable deterioration in recent days, especially with Erdogan adopting a hardline discourse toward Israel in an attempt to gain domestic popularity and regional influence.

Political analyses indicate that Turkey's strategy in the region is based on attempting to revive its historical influence by intervening in the affairs of neighboring countries, which conflicts with the interests of Israel, the United States, and NATO countries.

International experts believe that Erdogan's domestic and foreign policies are characterized by authoritarianism and expansion, posing a real threat to the stability of the region, which Israel is trying to alert the international community to.

In a related context, monitoring sources indicate that this verbal escalation may affect economic relations between the two countries, which have witnessed important trade exchanges despite political differences.

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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.