Britain is the transatlantic bridge between the EU and NATO
December 21, 2021, 6:02 pm

Britain is the transatlantic bridge between the EU and NATO

UK security and defence policies have always been tied to the premise of not allowing a hostile to dominate the continent or to disrupt the “tranquillity of the European balance of power”. Britain tended to achieve this in the past, not by entering into permanent alliances with continental powers, but by concluding shorter-term arrangements as needs dictated. Its participation in five out of the seven coalitions against Napoleon and later in the Crimean War and two world wars is a case in point.

The UK’s withdrawal from the EU end of 2020, calls into question the security implications that the split will have. The UK has continued to support NATO as the primary security provider on the continent and has acted at the forefront to reform the organization to better address the changing security environment in Europe. On the other hand, the EU forges on with its efforts to form an autonomous strategic partnership to ensure European security through collective efforts. Without resistance from London, this policy is likely to go ahead creating uncertainty for the future of NATO in Europe and UK’s place in the security of the continent.

The United Kingdom has played an important role in the design and development of the European Union’s foreign, security and defence policy. While it is among the founding members of NATO, it is also one of the main contributors to European security and played an active part in developing the relationship between both organisations.

Britain also faces an uncertain position within the European security architecture. It therefore needs to redefine its relations with the European Union and its own position among other member states. Taking into account the development of national security interests and recent political events.

NATO and the UK

While the relationship between NATO and the UK during the alliances more than 70-year history hasn’t always been smooth, the country’s main political parties have always shown strong public support for it. As a founding member of NATO, Britain publicly presents the alliance as key to its defence strategy. But this public support has not extended to providing the necessary support for arms and equipment for the British military. Funding for the armed forces has been an easy target for cuts under British governments of both the left and right.

Nato continues to contribute to international peace and security. Around 20,000 of its personnel are deployed on operations around the world, including in Turkey, Kosovo, Afghanistan, Somalia and Iraq. British soldiers take part in many of these deployments. Although the BAOR is long gone, the British Army still plays a major role in the defence of Europe.

In 2014, for example, British soldiers took part in the Anglo-Polish ‘Exercise Black Eagle’, designed to help the two nations’ armies co-operate more effectively. This was part of Nato's demonstration of support for its allies in Eastern Europe in the face of growing tension with Russia following its actions over neighbouring Ukraine.

Since the referendum to leave the European Union (EU) in 2016, the United Kingdom (UK) has been rethinking its role in world affairs. Under the 'Global Britain' banner, the UK sees itself as a force for multilateralism, a strong military power with global presence and reach, and a strong pillar of the transatlantic alliance.

Reflection on the implications of 'Global Britain' for the UK's future foreign, security and defence policy has resulted in two strategic documents, the Integrated Review and the Defence Command Paper, which outline policy priorities and the government's strategic vision. Although the EU as such is to a large extent absent from these strategic documents, there are implications to be considered, particularly as the EU has taken significant steps towards defence and military integration and as it is continuing to deepen its relationship with NATO.

With the United Kingdom’s decision to leave the European Union, questions concerning the implications of Brexit on European Union– NATO cooperation arise. As the transatlantic bridge betweenthe EU and NATO.

BY: Jassim Mohamad - Bonn

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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.