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London mayor sends message of support to Hong Kong emigres

The AP reported London’s mayor on Thursday sent a message of support to Hong Kong residents fleeing China’s crackdown on democracy to seek new live in the United Kingdom, saying his office will spend 900,000 pounds ($1.2 million) to help new arrivals with housing, education and finding jobs.
Mayor Sadiq Khan said London is expected to welcome the largest proportion of arrivals from Hong Kong to the U.K. this year, after Britain’s government introduced a new immigration pathway for those with a British National Overseas passport to live and work in the country.
The government estimates that about 123,000 to 153,000 people will take up the visa this year. The visa, which allows those eligible to apply for British citizenship after living in the U.K. for five years, was introduced last year after Beijing imposed a sweeping new national security law in Hong Kong.
The law has prompted an exodus of many young people and families who say their hometown has been transformed beyond measure.
Beijing has strongly criticized Britain’s offer as meddling in its domestic affairs. British authorities maintain they are keeping a promise to the people of Hong Kong, a British colony until 1997, when it returned to Chinese rule as a semi-autonomous region that was supposed to enjoy civil liberties and freedoms not seen elsewhere on mainland China.
More than 34,000 people have already applied for the visa, Khan said, though most haven’t yet arrived in the U.K. because of the pandemic. International travel has been severely restricted and Hong Kong was only added to England’s “green list” of safe countries on Monday, meaning that people arriving from there do not need to quarantine on arrival unless they test positive.
“We think between a quarter and a third (of the arrivals) will choose London as their destination, but it’s early days yet,” Khan said in an interview.
The mayor said he was keen to send a message to Hong Kongers that London “will welcome you with open arms.”
“For me, it’s quite clear we’ve got a moral obligation to help those from Hong Kong. But also that’s the history of London. We’ve been doing this for successive decades,” he said.
His office will use government funding and work with community groups to advise and help Hong Kongers navigate the challenges of finding housing, schools and jobs, he added.
“Hundreds of thousands have left because of the pandemic and because of Brexit,” he said. “So, look, we’ve got record numbers of vacancies (in) the job market in London.”
Khan acknowledged that hate crimes against Chinese and Asian people in the capital have increased since January 2020, when the pandemic first began spreading from China. But he said that the number of such crimes have come down from a “previous spike.”
Britain’s government estimates that up to 322,000 people will take up the new visa over five years.
Since China implemented the new national security law in June, more than 100 pro-democracy supporters have been arrested and many others have fled abroad. The crackdown on dissent hardened in recent weeks, when Hong Kong’s most prominent pro-democracy newspaper, Apple Daily, was forced to cease publication.
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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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