Court rejects bail appeals of 21 Hong Kong activists
March 12, 2021, 11:25 am

Court rejects bail appeals of 21 Hong Kong activists

Supporters of 47 pro-democracy activists hold flashlights as they wait for four of them to leave the West Kowloon Magistrates’ Courts on bail, over a national security law charge, in Hong Kong, China, on March 5, 2021. (File photo: Reuters)

Twenty-one Hong Kong activists will remain in custody after a court on Friday rejected requests by some for bail and others withdrew their applications in a widely monitored case where they are charged with conspiracy to subvert the government.

The charges against a total of 47 opposition figures represent the most sweeping use yet of Hong Kong’s new security law, which punishes what it broadly defines as secession, subversion, terrorism and collusion with foreign forces with up to life in prison.

The case offers an insight into how the mainland-style justice drafted by Beijing into the security law clashes with the global financial hub’s common-law traditions, and is being closely watched by foreign diplomats and rights groups.

In contrast with past practice, the new security law puts the onus on defendants to prove they will not pose a security threat if released on bail.

Since the group of 47 were charged around two weeks ago, the court has heard a series of requests for bail. While most requests were rejected, the court approved some applications, prompting immediate appeals from prosecutors to overturn some of those approvals. Just five of the group are currently out on bail.

Of the 21 defendants in court on Friday, Judge Victor So rejected 11 applications while the rest were withdrawn by the defendants. The rejected defendants have the right to file for another review in eight days, although most indicated they did not intend to do so.

The 47 activists are accused of organizing and participating in an unofficial, non-binding primary poll in July 2020 that authorities said was part of a “vicious plot” to “overthrow” the government.

The vote was aimed at selecting the strongest opposition candidates for a legislative council election that the government later postponed, citing the coronavirus.

The detentions have been fiercely criticized by governments in the West, including Britain and the United States.

Hong Kong’s Department of Justice has said no one should interfere with independent prosecutorial decisions.

Supporters of the new law say it has restored stability after months of pro-democracy protests in 2019.

Hong Kong laws restrict media coverage of the content of bail hearings. The next hearing in the case is on May 31.

source: Reuters

Image source: Reuters

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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.