Boris Johnson carries out a reshuffle of his cabinet ministers
September 15, 2021, 11:28 pm

Boris Johnson carries out a reshuffle of his cabinet ministers

UK PM-Boris

The Xinhua reported, British Prime Minister Boris Johnson carried out a reshuffle of his cabinet ministers on Wednesday, with Dominic Raab removed as foreign secretary among other changes.

According to Downing Street, Johnson's cabinet reshuffle aimed to put in place "a strong and united team to build back better from the pandemic," and would have a focus on "uniting and levelling up the whole country."

The Xinhua said, Raab will become justice secretary and also take up the role of deputy prime minister.

According to local media, he has been under fire for his handling of Britain's withdrawal from Afghanistan and his decision to stay on holiday until hours after Kabul's fall to the Taliban.

His replacement Liz Truss, who was international trade secretary, has become the second woman to hold the position of foreign secretary in Britain.

She has reportedly received praises for securing trade deals between Britain and a number of countries following the Brexit.

Raab replaced Robert Buckland who was removed from the justice secretary post.

Buckland tweeted: "It has been an honour to serve in government for the last seven years, and as the Lord Chancellor for the last two. I am deeply proud of everything I have achieved. On to the next adventure."

Johnson's reshuffle also brought about the exit of Gavin Williamson as education secretary and Robert Jenrick as housing secretary.

The removal of Williamson from his post came as he was criticized for his handling of disruption to schools and exams during the pandemic, according to local media. Jenrick has faced calls for resignation after he admitted last year his decision to unlawfully approve a controversial property development bid by a Tory donor.

Anne-Marie Trevelyan, minister for energy, clean growth and climate change, has filled the vacancy left by Truss to become the international trade secretary.

Nadhim Zahawi, minister for COVID vaccine deployment, has been promoted to education secretary. Michael Gove, minister for the cabinet office, has been appointed as the new housing secretary. Nadine Dorries, minister for mental health, has become Britain's new culture secretary.

Home Secretary Priti Patel, Defense Secretary Ben Wallace and Health Secretary Sajid Javid retain their posts.

Britain's previous major cabinet reshuffle was in February 2020, just before the COVID-19 pandemic started and the country went into its first COVID-19 lockdown.

Source: xinhua

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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.