Denmark plans to develop COVID-19 vaccine-approved digital passports
February 4, 2021, 11:27 am

Denmark plans to develop COVID-19 vaccine-approved digital passports

A picture taken on May 15, 2020 shows empty screens at almost empty Copenhagen Airport, Denmark amid the new coronavirus pandemic. (AFP)

Denmark's government said Wednesday it is joining forces with businesses to develop a digital passport that would show whether people have been vaccinated against the coronavirus, allowing them to travel and help ease restrictions on public life.

Finance Minister Morten Boedskov told a news conference that “in three, four months, a digital corona passport will be ready for use in, for example, business travel.”

“It is absolutely crucial for us to be able to restart Danish society so that companies can get back on track. Many Danish companies are global companies with the whole world as a market,” he added.

As a first step, before the end of February, citizens in Denmark would be able to see on a Danish health web site the official confirmation of whether they have been vaccinated.

“It will be the extra passport that you will be able to have on your mobile phone that documents that you have been vaccinated,” Boedskov said. “We can be among the first in the world to have it and can show it to the rest of the world.”

The coronavirus has seen a near-total halt in international travel as countries try to contain the spread of the virus. Major European airlines, for example, are flying a tenth of their normal traffic.

The Danish government's presentation was made together with representatives of the main business organizations, the Confederation of Danish Industries, which represents Denmark’s major companies, and the Danish Chamber of Commerce.

Denmark, like neighboring Nordic and Baltic countries, has in recent years moved toward a completely digital system to reduce bureaucracy with online platforms that support electronic authentication and digital signatures to enable paperless communications across both the private and public sectors.

The European Commission, meanwhile, has been weighing proposals to issue vaccination certificates to help get travelers to their vacation destinations more quickly and avoid another disastrous summer for Europe’s tourism sector. But the EU’s executive arm said for now such certificates would only be used for medical purposes, for instance to monitor the possible adverse effects of vaccines.

Some similar digital passports are being developed to help travelers to securely show they’ve complied with COVID-19 testing requirements. One, called CommonPass, says it could also track vaccinations.

On Tuesday, Estonia said it will allow passengers arriving into the country with a proof of COVID-19 vaccination to avoid quarantine requirements.

The Baltic country said that the certificate must meet certain criteria, including information saying when the vaccine was made, which vaccine was used, the issuer of the vaccine and the vaccine batch number. The certificate must be in either in Estonian, Russian, or English.

The Danish government said it will decide later on whether the digital passport should be used for purposes other than travel to help reopen public life.

source: The Associated Press

Image source: AFP

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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.