Boris Johnson is warned of ‘dangerous political vacuum’ in Northern Ireland
April 26, 2021, 10:19 am

Boris Johnson is warned of ‘dangerous political vacuum’ in Northern Ireland

The letter said recent disturbances reflected the failure in Belfast and Whitehall to sustain positive political momentum.

Letter from four former secretaries of state says Brexit’s damage to peace process must be addressed

Northern Ireland is in a dangerous political vacuum and could “fall over” unless the UK government acts swiftly, according to a cross-party group of former cabinet ministers with experience in the region.

Boris Johnson needs to show more urgency and focus to ameliorate Brexit’s damage to the peace process, the group tells the prime minister in an open letter published on Monday.

“The lesson of the past 50 years or more in Northern Ireland is that if there is no forward movement things do not stand still: they fall over. It is the responsibility of the UK government to ensure that does not happen because there is nothing more dangerous than a political vacuum.”

The letter tacitly accuses Johnson and the Northern Ireland secretary, Brandon Lewis, of endangering the 1998 Good Friday agreement through neglect and dishonesty.

The letter is signed by four former Labour Northern Ireland secretaries: Peter Hain, Shaun Woodward, Peter Mandelson and Paul Murphy.

It was also signed by Chris Patten, a former Conservative party chairman who led a commission on policing in Northern Ireland, Sir Hugh Orde, a former chief constable of the Police Service of Northern Ireland, Lord Robin Eames, a former Church of Ireland primate, Des Browne, a minister in the Tony Blair and Gordon Brown governments, and Patrick Cormack, a former Tory MP. Seven of the nine signatories sit in the House of Lords.

The letter said recent disturbances in mostly loyalist areas reflected failure in Belfast and Whitehall to sustain positive political momentum, a requirement for peace and stability in the region.

“Tony Blair and Gordon Brown recognised that, as did John Major before them. They each took personal charge of the peace process, convening regular summits and being in constant touch with all the parties.”

The letter said only serious, continuous engagement could defuse anger over the Irish Sea trade border: “There is a strong sense within loyalists and unionists that no one is listening to them, and that nobody in authority in Whitehall has been honest with them about the consequences of Brexit.

“The most immediate step is therefore for the government, at the highest level, to be seen to take an interest.”

Unless politics is made to work and seen to work unrest will continue, it said. That meant creating space for local politics to regain the initiative and restoring “badly damaged” trust with the Irish government.

In a poll of Northern Ireland voters last week, only 5% of respondents said they trusted the UK government to handle Northern Ireland’s interests in post-Brexit arrangements.

Analysts said the prime minister’s claim to be “sandpapering” the Northern Ireland protocol into shape was abrasive rhetoric, not leadership.

This article was amended on 26 April 2021. An earlier version mistakenly named Paul Murphy, one of the signatories of the letter, as Paul Brown.

source: Rory Carroll

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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.