Boris Johnson to visit Northern Ireland on Monday amid Brexit protocol crisis
May 14, 2022, 9:30 am

Boris Johnson to visit Northern Ireland on Monday amid Brexit protocol crisis

Alexander Boris de Pfeffel Johnson is a British politician serving as Prime Minister of the United Kingdom and Leader of the Conservative Party since 2019 - Official Twitter account

The Politico reproetd, U.K. Prime Minister Boris Johnson will travel to Northern Ireland on Monday (May 16) amid a growing political crisis in the region triggered by escalating tensions over Brexit.

Johnson's visit comes amid intense speculation that the British government is poised to break the post-Brexit trade protocol for Northern Ireland, a move with potentially far-reaching consequences for U.K.-EU relations.

While Downing Street didn’t immediately confirm Johnson's travel plans, Sinn Féin’s Michelle O’Neill — who is supposed to lead Northern Ireland’s next cross-community government — said British officials have told her he's coming and she is seeking face-to-face talks.

"They're playing a game of Chicken with the European Commission right now and we're caught in the middle"

Sinn Fein's Vice President, Michelle O'Neill, warns Boris Johnson to "stop pandering to the DUP"

📸 Warning: This video contains flash photographyhttps://t.co/uo6gDkNumZ pic.twitter.com/BylDoZizbW
— Sky News (@SkyNews) May 13, 2022

Efforts to launch a new power-sharing administration are being held up by Sinn Féin’s political rivals in the Democratic Unionist Party, who say the Brexit protocol is damaging and must be overhauled.

“I intend to put it to him directly that he needs to stop pandering to the DUP. They're playing a game of chicken with the European Commission right now and we're caught in the middle,” said O’Neill, whose Irish republican party overtook the DUP for the first time in last week’s Northern Ireland Assembly election.

UK-EU rift deepens over Northern Ireland protocol

Politicians from two other Northern Irish parties told Politico they also plan to meet Johnson in Belfast.

Johnson faces pressure from DUP politicians, who followed through on their threat Friday to block any formation of a new government until Britain stops EU-required checks on British goods arriving at Northern Ireland ports.

When the Brexit deal was signed, the U.K. government and the EU agreed to those checks to avoid creating customs and sanitary controls on Northern Ireland’s land border with the Republic of Ireland, an EU member. The prospect of a hard land border with customs controls and checkpoints was seen as a potential threat to peace on the island of Ireland.

European Commission to set out adjustments to easing medicines flow from Britain to Northern Ireland

The protocol is supported by most Northern Ireland parties but the DUP says such checks threaten the region's place within the U.K. and must stop. As the largest pro-British party, the DUP wields a veto on power-sharing under terms of Northern Ireland's 1998 peace accord.

Source: politico

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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.