Former UK Health Secretary given United Nations role
October 12, 2021, 11:47 pm

Former UK Health Secretary given United Nations role

Matt Hancock-Official page-Facebook

The BBC reported, Former Health Secretary Matt Hancock has been given a role with the United Nations as a special representative.

Writing on Twitter, the ex-minister said the job would focus on helping Africa's economy recover from Covid.

The BBC said, tt comes four months after Mr Hancock resigned from his cabinet post for breaking social distancing guidelines by kissing a colleague.

The Under Secretary General of the UN, Vera Songwe, praised his "success" in tackling the UK's pandemic response.

In a letter posted online by Mr Hancock, Ms Songwe said the "acceleration of vaccines that has led the UK move faster towards economic recovery is one testament to the strengths that you will bring to this role, together with your fiscal and monetary experience".

According to the BBC, the announcement also comes on the day a report from MPs was published, claiming the government and its scientists' failure to do more to stop Covid spreading early in the pandemic was one of the country's worst public health failures.

It mentioned, Mr Hancock's official title will be "UN special representative on financial innovation and climate change for the United Nations Economic Commission for Africa".

The BBC added, his new role will be unpaid and he will continue as a Conservative MP.

Mr Hancock said he was "honoured" to be appointed and would help "promote sustainable development", alongside working on the economic recovery.

Ms Songwe said the UN had been working with people across the world on Africa's climate actions and resilient recovery - and that she wanted to appoint Mr Hancock "given your global leadership, advocacy reach and in depth understanding of government processes through your various ministerial cabinet roles".

She added: "The role will support Africa's cause at the global level and ensure the continent builds forward better, leveraging financial innovations and working with major stakeholders like the G20, UK government and COP26."

In his acceptance letter, which he also posted on Twitter, Mr Hancock wrote: "As we recover from the pandemic so we must take this moment to ensure Africa can prosper."

The chair of the Foreign Affairs Select Committee, Conservative MP Tom Tugendhat, said it was a "fascinating and important appointment".

He added: "Boosting the economies of Africa is one of the most essential tasks of this generation."

Source: BBC

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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.