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Ireland – north and south - fret about Boris’s Brexit deal

IAN BLACK
Boris Johnson’s long-awaited Brexit agreement was finally reached by changing the rules for the highly sensitive issue of the future relationship between Northern Ireland and the Republic of Ireland after the departure of the United Kingdom from the European Union.
But the British prime minister’s triumphant appearance at an EU summit in Brussels on October 17 was not, as he had hoped, followed by success in persuading MPs to vote for his “great deal.” Two days later, on what had been billed optimistically as “Super Saturday” at Westminster, they again failed to support his agreement and forced him to ask the EU for an extension beyond the October 31 deadline. The Brexit crisis continues.
Johnson has been in 10 Downing Street for three months since taking over from Theresa May. For three turbulent years she failed to deliver Brexit following the referendum in June 2016. For both Conservative leaders the Irish question has proved to be an impassable obstacle.
In the referendum, 56% of people in Northern Ireland voted to remain in the EU. Nonetheless, the province will leave if the rest of the UK does. Ireland, of course, will continue to be a member of the club, as it has been since joining, along with the UK, in 1973. This means that for the first time the EU will have an external border on the island of Ireland.
For 30 bloody years of sectarian violence between Catholic Irish nationalists and pro-British Protestants, in which 3,500 people died, the 310 mile border was heavily fortified. People and goods crossing it during what were known euphemistically as “The Troubles” were subject to customs and identity checks as British army helicopters whirled overhead.
In recent times the border has all but faded away. Security measures were phased out following the Good Friday peace agreement of 1998 and the EU’s single market and customs union have banished the need for inspections of imports and exports.
Ireland is the EU member that will be most affected by Brexit. Its economy is highly integrated with the UK. Around 80% of the goods it exports are transported to or through the UK. Ireland sources 41% of its food and 55% of its fuel from the UK mainland. Ireland and Northern Ireland share a single electricity market. The Irish Prime Minister, Leo Varadkar, understandably refuses to accept the return of a “hard border.”
May ruled out the idea of Northern Ireland remaining in the EU customs union as this would mean an internal customs border within the UK. That produced the idea of a ”backstop” - the option of keeping the north aligned to Europe and inside the customs union if no other solution to the border dispute could be found.
Johnson’s decision– characteristically reversing his previous position - was to draw a line down the Irish Sea to carry out regulatory checks. That has infuriated the Democratic Unionist Party of Northern Ireland, whose MPs helped defeat his deal on what should have been “Super Saturday.”
Irish nationalists see an open border as a crucial part of the Good Friday deal, recognising the fact that families trade and move across it, often several times a day. The border marked the sovereignty of different countries but they were treated for practical purposes as if they were the same. English nationalists by contrast, view leaving it untouched as a betrayal of their core doctrine of “seizing back control from Brussels” as it would limit the prospects of UK trade deals with new countries.
Tony Blair, the Labour prime minister who oversaw the 1998 agreement, wrote recently that at its heart lay the following principle: “Northern Ireland would remain part of the UK for as long as a majority in the north wanted it, but in return the nationalist aspirations and identity of those who wanted a united Ireland would be recognized and given effect.” He warned that to proceed with Johnson’s deal risked undermining it.
It is part of the toxicity of Brexit that those who favour it stand accused of behaving in an arrogant and imperious way towards Britain’s former colony. Varadkar has been demonized in Brexit-supporting media. “A powerful element within British political life refuses to accept that the blind pursuit of British interests can have deeply damaging consequences for those beyond its borders,” wrote one Irish historian.
The irony is that since the referendum the number of British citizens applying for Irish passports has risen to record levels. (Anybody in the world born to an Irish citizen is entitled to an Irish passport while those with grandparents born in Ireland also qualify). Becoming Irish is one way for Remainer Britons to stay connected to their European identity – and rights.
Whatever happens next – and it is as hard as ever to predict - the Irish question seems certain to remain a central element of this unfinished and bitterly divisive story.
(ENDS)
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BENEFIT AGM approves 10%...
- March 27, 2025
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.
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