Brexit will mark 'new chapter' for UK
January 1, 2020, 11:49 am

Brexit will mark 'new chapter' for UK (FILE PHOTO REUTERS)

The UK is on the verge of a "new chapter" in its history, Boris Johnson has said, as he promised to "finish the job" by delivering Brexit within weeks. In his new year message, the prime minister said he hoped the country would "move forward united" after it leaves the EU on 31 January.

He vowed to govern "for everyone", not just those who backed him at the polls.

And he said he wanted more prosperity and fairer opportunity to be the hallmarks of a "remarkable" new decade.

Boosting resources for the NHS, improving the UK's infrastructure, tackling violent crime and protecting the environment were among his government's other main priorities for the year ahead, he said.

Mr Johnson, who is currently on holiday in the Caribbean, said the "first item on his agenda" when he returned was delivering on the mandate of the people and taking the UK out of the EU.

He said: "We can start a new chapter in the history of our country, in which we come together and move forward united, unleashing the enormous potential of the British people."

The Conservatives' resounding election victory on 12 December had "driven an electoral bulldozer" through the deadlock in Parliament, he said, and offered a way out of the "division, rancour and uncertainty" surrounding the Brexit debate since the 2016 referendum vote.

Legislation to ratify the withdrawal agreement with the EU easily cleared its first hurdle before Christmas, when MPs backed it by a majority of 124.

With an 80-seat Conservative majority in the Commons, the remaining stages of the bill are expected to be completed quickly in January in time, the PM said, to "get Brexit done before the end of this month".

"That oven-ready deal I talked about so much during the election campaign has already had its plastic covering pierced and been placed in the microwave," he said.

'Prime minister for everyone'

He said he aimed to deliver a "people's government".

"I am acutely aware that there are millions of people who did not vote for me and were disappointed by the result," he said.

"If you are one of them, I want to reassure you that I will be a prime minister for everyone, not just those who voted for me. I know that you love this country no less, simply because you voted for another party or wanted to Remain."

Mr Johnson, who a year ago was languishing on the backbenches after quitting Theresa May's government, is said to be planning a major cabinet reshuffle and departmental reorganisation after the UK leaves the EU.

He has also signalled that infrastructure and science will be at the heart of a Budget in March, with the aim of making the UK "an engine for the ideas of the future".

He said he wanted to "make the 2020s a decade of prosperity and opportunity" with a "fantastically exciting agenda".

SOURCE : BBC

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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.