Sinn Fein finds its voice in Ireland after vote gains
February 10, 2020, 12:13 pm

Sinn Fein finds its voice in Ireland after vote gains ( File photo AFP Ben STANSALL

Republican party Sinn Fein on Monday stood on the threshold of a potential role in Ireland's government after winning the popular vote in a weekend election, a result shattering the political landscape.

The result from Saturday's ballot broke the stranglehold of two-party politics in Ireland, opening up a potential role for a party once shunned because of its links to IRA paramilitaries.

Former leader Gerry Adams and other party representatives were even banned from the airwaves in the UK as violence raged over British rule in Northern Ireland over three decades to 1998.

But with two decades of peace and a new leader under Mary Lou McDonald, Sinn Fein's left-wing policies on tackling crises in housing and health found favour with voters.

McDonald said the two main parties -- Fine Gael and Fianna Fail -- were "in a state of denial" and had not listened to the voice of the people.

"I will talk to and listen to everybody," she said on Sunday night.

Prime Minister and Fine Gael leader Leo Varadkar acknowledged the shift, and raised the prospect of protracted negotiations between the parties.

"It seems that we have now a three-party system. That is going to make forming a government quite difficult," he said.

After ballots in all 39 constituencies were tallied on Sunday, Sinn Fein received 24.5 percent of first preferences in Ireland's single transferable vote system.

That outstripped the opposition Fianna Fail party on 22.2 percent and its centre-right rivals Fine Gael on 20.9 percent.

"The Irish political system has to react to it and probably accept that Sinn Fein will be part of the next government," Eoin O'Malley, associate professor at Dublin City University, told AFP.

- Young appeal

At 1000 GMT on Monday, state broadcaster RTE reported 78 of the 159 seats in the Dail -- Ireland's lower house of parliament -- were filled.

Sinn Fein, whose flagship policy is uniting the republic with Northern Ireland, had 29.

But because it ran just 42 candidates, even a strong performance in the popular vote may not result in it becoming the biggest party in the next parliament.

Fine Gael and Fianna Fail have both ruled out any deal with Sinn Fein because of its past associations under Adams, who has long denied allegations he had a leadership role in the IRA.

"The Troubles" saw the IRA wage a campaign against unionist counterparts and British security forces over UK-rule in Northern Ireland that saw more than 3,000 killed on all sides.

McDonald's policies on tackling wealth inequality and housing shortages appear to have appealed to younger voters in the EU member state's 3.3 million-strong electorate.

Some 32 percent of voters aged 18-24 and 25-34 backed the party, according to an exit poll on Saturday.

Dublin coffee shop manager Darren Hart said it was time for another party to try after decades of two-party dominance.

"Whether they have a troubled past as a party or not, you know they deserve a shot same as everybody else, so why not?" he said.

Fiach Kelly, deputy political editor of The Irish Times, called McDonald "the star of the campaign" and said her attacks on Fianna Fail's support for Fine Gael's minority government were "brutally effective".

"It robbed (Fianna Fail leader) Micheal Martin of his claim to be an agent of change and solidified Sinn Fein as the party offering radical change," he wrote.

- Talks start

McDonald said she had begun talks with smaller left-wing parties to try to "test" whether it was possible to form a government without the two main centre-right parties.

In a sign of the sea-change in Irish politics, Varadkar himself was beaten to the first seat in his constituency by a Sinn Fein candidate.

He took the second of four seats but it was a sharp symbolic blow on a long night for the premier, who was facing the electorate for the first time as prime minister.

Varadkar -- young, openly gay and mixed-race -- has been seen as the face of a new, more progressive Ireland after referendums overturning strict abortion laws and same-sex marriage.

O'Malley predicted Sinn Fein would possibly mount a strong campaign for McDonald to serve as prime minister when the new Dail convenes on February 20.

But he predicted a Fianna Fail-Sinn Fein coalition as the most likely future government to be formed some time in early March. Martin seemed to soften his stance against that prospect on Sunday.

"Undercover there will be probably talks between Sinn Fein and Fianna Fail," said O'Malley.

source: AFP

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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.