Embracing destiny: a glorious King Charles III
May 8, 2023, 12:35 pm

Embracing destiny: a glorious King Charles III

Luisa Markides

Thick clouds and heavy rain over London. The 6th of May, the day that wrote long awaited history.
The United Kingdom has a new king. The newly crowned King Charles III is the 40st monarch to have stepped into Westminster Abby for the coronation. A solemn, wonderfully glorious, and deeply religious two hours Anglican ceremony. Every gesture, every eyeblink has been carefully watched by over 10.4 million people at home and over 1.5 million people have witnessed this moment of history in public places. Fromliving rooms, private garden parties, street parties to huge public viewing screenings around the United Kingdom.

The world has much changed since the last coronation that took part 70 years ago. Almost unrecognizable. But tradition remains tradition, no matter how much the entire universe has moved on. Charles III has been proclaimed King after following an over thousand-year-old coronation tradition. The first coronation at Westminster Abby dates to 1066, however, the main element of the ceremony goes back as much as 973 AD.

What probably is one of the most touching parts, to see how the whole nation comes together. The unity between completestrangers that become one. Everyone with one aim: be part of that moment that will enter history and remembered and studied by our generations to come during their history lessons at school.

King Charles II is not only the oldest monarch to have been proclaimed king, but also the longest serving Royal to have waited to take the throne at Buckingham Palace for over 70 years. How must it feel to him, while the entire world is watching as he walks down confidently the isle at the imposing Cathedral? The same path all his past 39 ancestors walked before him, as last his own dear mother Queen Elizabeth II in 1953?

Growing up as a very small child, knowing one day after his mothers passing, he will be proclaimed king of a whole Nation and the Commonwealth, a destiny that has been placed on Charles at a tender age of three. Charles once recalled the prospect of ascending the throne as “something that dawn on you in the most ghastly, inexorable way”. Or as he said during his first audience to the then Prime Minister Liz Truss while she expressed her condolences “The moment I have been dreading”.

However, on Saturday the 6th of May the nation welcomed a victorious and radiant looking King. As the newspaper the following day made headlines describing the day as “Crowning glory of happy and glorious Coronation” (BBC), “the look that says: ‘Darling, it was a triumph’” (The Mail), “Crowning Glory” (The Sun), “At least, their crowning glory” (The Sunday Times) confirms that King Charles has successfully fulfilled his destiny. The deeply touching and emotional moment when Prince Williams swears allegiance while kissing his father’s cheek for the first time. The revelation of a deep bond between father and son, regardless of the change in hierarchy.

As with everything else, there are always two sides to every reality. Where there is supporting cheering and commitment to serve the new King, there is also a large amount of disagreement. These feelings confirm the 52 people that have been arrested in Central London while protesting against the monarchy on the day of the coronation. People have gathered as they do not recognize the new King and request to have the monarchy scrabbed and instead elect a head of state. Newer before a coronation has sparked so much controversy and anti-royal protests. Many might be the reasons. From the troubled and dramatic King’s past we all know too well about or perhaps, given that we write it the 21st of Century which is facing a global crisis on many different aspects.

For once, to the majority little does it matter. The joy of being part of this unforgettable day is way more significative than current hard feelings. It is the joy of a nation that for the third time in less than a year gathers to celebrate history confirming that values after all is what people adhere to perceive. Long live the King

By: Luisa Markides

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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.