Liverpool mayor Joe Anderson withdraws from elections
January 1, 2021, 2:12 pm

Liverpool mayor

Anderson says he will not seek re-election after police extend his bail over corruption investigation

The mayor of Liverpool, Joe Anderson, has said he will not be seeking re-election after police extended his bail as part of a corruption inquiry.

Anderson, who was praised by the government for his handling of the city’s Covid crisis, said he had decided to step back from his role leading Liverpool city council and would not stand in May’s delayed mayoral election.

He insisted the police investigation “will confirm I have done nothing wrong, and my name and reputation will be exonerated”. However he accepted his presence would be a distraction from “the positives of our city”, which he said he had always put first during his 22-year political career.

Anderson was arrested at the start of December on suspicion of bribery and witness intimidation as part of an investigation into building and development contracts awarded in Liverpool.

Several officers from Liverpool council were also arrested as part of the wide-ranging Operation Aloft inquiry, including the director of regeneration, Nick Kavanagh, and Andy Barr, the council’s assistant director of highways and planning.

Shortly before Christmas the government announced an emergency inspection of the council, to check the authority’s planning, highways, regeneration and property management functions and “the strength of associated audit and governance arrangements”.

In a statement posted on Twitter, Anderson said Merseyside police had extended his bail until February. “The timing of the extended bail notice means that it is in the best interests of the Labour party to seek a new candidate for the mayoral election,” he wrote.

“Although our justice system is built on the principle of being innocent until proven guilty, their decision does in fact change everything, and restricts and restrains me from functioning as normal. Any media attention around the investigation will clearly be focused on me and not on the positives of our city and that is not how it should be.

“I have always put the city first, that is why it is a tough, but the right, decision to continue to step back from my role in the council until the inquiries are completed.”

The former social worker, who started out in the merchant navy, was first elected as a councillor in 1998. He became Liverpool’s first directly elected mayor in 2012, and had been reselected as Labour’s candidate to fight the local election in May, which was postponed from 2020 because of Covid.

He said he would continue to fight to prove his innocence and to protect his legacy as mayor of his home city, writing: “It has been a great privilege to represent the Labour party and be part of a collective movement that represents people like me growing up in, and trying to find a way out of, poverty. Whoever the new Labour mayoral candidate is, I will cheer them on with all my heart.”

source: Helen Pidd

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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.