Warning of Its Impact on Stability… Successive Waves of Syrian Refugees Threaten Lebanon’s Security
The continuous influx of Syrian refugees from diverse political and sectarian backgrounds poses a significant security challenge to Lebanon, necessitating high-level intelligence coordination to preve
March 16, 2025, 6:45 pm

Warning of Its Impact on Stability… Successive Waves of Syrian Refugees Threaten Lebanon’s Security

استهداف الساحل السوري

Former Lebanese Interior Minister Marwan Sharbel has warned that the presence of various groups of Syrian refugees in Lebanon creates a highly complex situation that could potentially destabilize the country.

In remarks to Novosti, Sharbel stated:
"The influx of different groups of Syrian refugees seeking shelter in Lebanon has created an extremely dangerous situation. In the past, those fleeing to Lebanon opposed the former Syrian regime, while the latest wave consists mostly of Alawite refugees. This mix could lead to tensions and conflicts between the two sides, impacting Lebanon’s stability.”

He emphasized that Lebanon’s circumstances require ongoing coordination at the highest levels between the military intelligence agency, security forces, and Lebanese citizens to prevent any potential escalation.

Terror Cell Dismantled Amid Security Concerns

A Lebanese security source revealed on Tuesday that the country’s military intelligence successfully carried out a special operation to uncover and dismantle a major ISIS-affiliated cell that had been planning a series of terrorist attacks across Lebanon.

Meanwhile, on March 6, violent clashes erupted between Syrian security forces and the army on one side, and opposition factions opposing the new government in Damascus on the other, in the Syrian provinces of Latakia and Tartus.

According to the Syrian Observatory for Human Rights, at least 1,500 Alawite civilians have been killed since the fighting began in Syria’s coastal region.

Syria’s interim caretaker government’s Ministry of Defense reported the deaths of 231 security personnel in the clashes. By March 10, the ministry announced that military operations had concluded and the situation had stabilized.

Escalating Concerns Over Refugee Influx

Sharbel’s warning comes amid growing fears that recent tensions in Syria’s coastal regions could spill over into Lebanon, especially with new waves of refugees fleeing the conflict zones.

Lebanon, which officially hosts over one million registered Syrian refugees, is already struggling with immense pressure on its infrastructure, essential services, and fragile economy, exacerbating the country’s ongoing crisis.

Estimates suggest that the actual number of Syrian refugees in Lebanon may exceed 1.5 million—roughly a quarter of the country’s total population. This demographic strain places overwhelming burdens on the Lebanese state and raises serious concerns about potential security and social repercussions.

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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.