Chinese Communist Party Leadership will maintain in Tibet
May 22, 2021, 9:39 am

Chinese Communist Party Leadership will maintain in Tibet

China

Paramilitary police officers salute during a change of flag duty in front of Potala Palace in Lhasa during a government-organised tour of the Tibet Autonomous Region, China, October 15, 2020. Picture taken October 15, 2020. REUTERS/Thomas Peter

China will uphold the leadership of the Communist Party in Tibet to further its economic development, and guide Tibetan society in accordance to socialism, the region's top official said on Saturday.

Chinese troops entered Tibet in 1950, and a year later, the Chinese government formally gained control over the region and its devoutly Buddhist Tibetans. The Dalai Lama fled Tibet in 1959 following a failed uprising against Chinese rule.

"First and foremost we must uphold the leadership of the Communist Party of China," said Tibet's Party Secretary Wu Yingjie at a news conference in Beijing.

"Since the peaceful liberation of Tibet in 1951, everyone has discovered that only with party leadership can Tibet continue on this road of prosperous development," Wu said.

International support for the Tibetan community has surged in the past year with renewed support from rights groups and international governments, led by the United States.

In December, Congress passed the Tibet Policy and Support Act, which calls for the right of the Tibetans to select the next Dalai Lama, as well as for the establishment of a consulate in the Tibetan city of Lhasa.

China has strongly condemned the act, saying it is an effort to meddle in the country's internal affairs.

China, which is officially atheist, also maintains it has the right to select the Dalai Lama's successor according to Chinese law.

"Tibet has been a part of China since ancient times. The Chinese nation must always maintain this," Wu said.

Officials did not take questions from Western news outlets at the press conference.

The Dalai Lama and the exiled government, also known as the Central Tibetan Administration (CTA), have proposed what they call a "middle way" approach that would allow the exiled Tibetans to return to China on the condition of "genuine autonomy" for Tibet, though not full independence.

China has rebuffed attempts by the CTA to reopen a dialogue since 2010, and Beijing maintains that the Dalai Lama is a separatist.

There are as many as 150,000 Tibetans living in exile.

Penpa Tsering, who was this month elected president of CTA, told Reuters on Friday that they are committed to a peaceful resolution with China, but Beijing's current policies threaten the future of Tibetan culture.

"When it comes to religion we must adapt it to the Chinese context and also make clear that Tibetan Buddhism has always been inherently a part of Chinese culture," Wu said.

"Also, we need to maintain freedom of religious belief and worship and manage religion according to the law and guide society according to socialism."

(Reporting by Cate Cadell and Martin Pollard; Editing by Lincoln Feast.)

Reuters, May 22, 2021, at 2:35 a.m.

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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.