UK government considers 'diplomatic boycott’ of 2022 Winter Olympics in Beijing
November 20, 2021, 1:37 pm

UK government considers 'diplomatic boycott’ of 2022 Winter Olympics in Beijing

Olympic games/Pixabay

The Independent reported, the UK government is reportedly mulling over a diplomatic boycott of the 2022 Winter Olympics in Beijing as concerns about China’s record on human rights grow.

It comes after US president Joe Biden revealed this week he was “considering” staging a similar move with a final decision on attendance at the games expected before the end of November.

While the move would inflame tensions with Chinese president Xi Jinping, a political boycott would be a tool to protest the well-documented abuses against the Uyghur Muslim minority in the country’s Xinjiang province, including forced sterilisations, mass internment camps and forced labour.

China-City lights/Pixabay

According to The Times, there is an “active discussion” within the UK government about whether to follow suit, after Conservative Party MPs wrote to the prime minister urging him to ban diplomatic representation at the Beijing games.

Boris Johnson has previously ruled out a full sporting boycott of the Winter Olympics – despite concerns over the treatment of the Uyghur Muslim minority – telling MPs earlier this year the UK did not “normally” support sporting boycotts.

The British Olympic Association welcomed Mr Johnson’s remarks in February, saying: “As we saw in Moscow in 1980, sporting boycotts don’t work. They penalise the athletes whilst leaving the greater political problems unaddressed or unsolved.”

But earlier this week, former Tory party leader Iain Duncan Smith, who was one of the UK MPs sanctioned by China earlier this year, said it was “unthinkable that the Beijing 2022 Winter Olympics should continue as normal” against the background of abuses against the Uyghurs.

Writing for the Politics Home website, Mr Duncan Smith added: “Our athletes have played no part in choosing the venue for the Games, they should not be made to suffer for the moral ineptitude of the International Olympic Committee.

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“While many will boldly choose to speak out against the abuses, it is down to our political leaders to make clear that the Chinese government’s behaviour is unacceptable.

“The British government must set an example to president Biden and announce a diplomatic boycott of the Beijing Olympics. Neither prime minister Boris Johnson nor any other government ministers or officials should attend the games. British diplomats should too be instructed to stay far away.”

A government spokesperson told The Independent: “As the prime minister has previously said, the UK has long been opposed to sporting boycotts.

“No decisions have yet been made about government attendance at the Beijing Olympics.”

Source: independent

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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.