Barbados ditches Britain’s Queen Elizabeth as head of state
November 30, 2021, 5:42 am

Barbados ditches Britain’s Queen Elizabeth as head of state

Barbados-Bridgetown/Pixabay

The Arab News reported according to Reuters, Barbados ditched Britain’s Queen Elizabeth as head of state, forging a new republic on Tuesday with its first-ever president and severing its last remaining colonial bonds nearly 400 years after the first English ships arrived at the Caribbean island.

At the strike of midnight, the new republic was born to the cheers of hundreds of people lining Chamberlain Bridge in the capital, Bridgetown. A 21-gun salute fired as the national anthem of Barbados was played over a crowded Heroes Square.

Prince Charles, heir to the British throne, stood somberly as Queen Elizabeth’s royal standard was lowered and the new Barbados declared, a step which republicans hope will spur discussion of similar proposals in other former British colonies that have Queen Elizabeth as their sovereign.

Barbados casts the removal of Elizabeth II, who is still queen of 15 other realms including the United Kingdom, Australia, Canada and Jamaica, as a way to finally break with the demons of its colonial history.

Queen Elizabeth-Queen of England-Royal Family/Shutterstock

After a dazzling display of Barbadian dance and music, complete with speeches celebrating the end of colonialism, Sandra Mason was sworn in as Barbados’s first president in the shadow of Barbados’s parliament.

“Full stop this colonial page,” Winston Farrell, a Barbadian poet told the ceremony. “Some have grown up stupid under the Union Jack, lost in the castle of their skin.”

“It is about us, rising out of the cane fields, reclaiming our history,” he said. “End all that she mean, put a Bajan there instead.”

The birth of the republic, 55 years to the day since Barbados declared independence, unclasps almost all the colonial bonds that have kept the tiny island tied to England since an English ship claimed it for King James I in 1625.

It may also be a harbinger of a broader attempt by other former colonies to cut ties to the British monarchy as it braces for the end of Elizabeth’s nearly 70-year reign and the future accession of Charles.

Prime Minister Mia Mottley, the leader of Barbados’ republican movement, helped lead the ceremony. Mottley has won global attention by denouncing the effects of climate change on small Caribbean nations.

“Tonight’s the night!” read the front-page headline of Barbados’ Daily Nation newspaper.

“I’m overjoyed,” Ras Binghi, a Bridgetown cobbler, said ahead of the ceremony. Binghi said he would be saluting the new republic with a drink and a smoke.

Prince Charles will give a speech highlighting the continuing friendship of the two nations despite England’s central role in the trans-Atlantic slave trade.

While Britain casts slavery as a sin of the past, some Barbadians are calling for compensation from Britain.

Activist David Denny celebrated the creation of the republic but said he opposes the visit by Prince Charles, noting the royal family for centuries benefited from the slave trade.

“Our movement would also like the royal family to pay a reparation,” Denny said in an interview in Bridgetown.

The English initially used white British indentured servants to toil on the plantations of tobacco, cotton, indigo and sugar, but Barbados in just a few decades would become England’s first truly profitable slave society.

Read more: Fifty Shades of Haftar

Barbados received 600,000 enslaved Africans between 1627 and 1833, who were put to work in the sugar plantations, earning fortunes for the English owners.

More than 10 million Africans were shackled into the Atlantic slave trade by European nations between the 15th and 19th centuries. Those who survived the often brutal voyage, ended up toiling on plantations.

Barbados will remain a republic within the Commonwealth, a grouping of 54 countries across Africa, Asia, the Americas and Europe.

Outside the lavish official ceremony, some Barbadians said they were uncertain what the transition to a republic even meant or why it mattered.

“They should leave Queen Elizabeth be — leave her as the boss. I don’t understand why we need to be a republic,” said Sean Williams, 45, standing in the shadow of an independence monument.

The last time the queen was removed as head of state was in 1992 when the Indian Ocean island of Mauritius proclaimed itself a republic.

Source: arabnews

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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.