The least worst of the worst next Tory prime minister
July 16, 2022, 6:19 pm

The least worst of the worst next Tory prime minister

Zara Saleh1

After a long battle and tough "caesarean" operation that needed the intervention of conservative MPs themselves, the chair-stuck Boris Johnson has finally resigned from the post of the "best job of the world" as a UK prime minister. Boris Johnson's decision didn't become a fact until he was left by most of his government team and ministers [the number of resignations reached 55], after ignoring all his Partygate during the pandemic. To avoid the parliament summer holiday on July 21 which takes 6 weeks, the Tory members of parliament straightaway began the leadership race that started with 11 candidates. Nowadays, after the second tour of the Conservative leadership race, only five candidates remained for the next vote to choose the only two by the Tory MPs, then on the 5th of September, all members of the Conservative will participate in choosing the new leader who will, eventually, be the next UK prime minister.

However, the battle for the post of prime minister is now between five Tory candidates who have already been part of Boris Johnson's government which makes the UK people disappointed and hopeless of any real change due to the consequences of Brexit, the Covid pandemic and the economic crisis and the significant rise of the cost of living. Furthermore, the British people have no choice and they are seeking the Tory MPs and party's members to vote for the best least worst of the worst as they didn't expect early general elections that might be the best solution for Britain, and not to wait until 2025 for regular parliamentary general elections.

A glance at the five remaining candidates for the post of next UK prime minister while Britain is facing the first economic crisis and inflation first ever since 40 years ago, it seems the former chancellor Rishi Sunak has a high number of Tory MPs who support him despite his family tax scandal and issues. He most likely will have the chance to reach the finals among the Tory MPs, but the last decision will definitely be the Conservative Party members. On the other hand, the former trade minister Penny Mordaunt was the second top supporter who had received votes among the

Conservative members of parliament and she might have had the most fans and supporters among the members of the party as she is considered one of the favourite candidates for the next UK prime minister. Besides that, the former Foreign Secretary Liz Truss who was in third place among the

Conservative members of parliament also have a great opportunity to be elected as the next leader for Tory and UK prime minister. Nevertheless, above the three candidates they cannot ignore the

competition and the presence of the other two candidates to reach the final tour. Kemi Badenoch, who has support among the right-wing Tory MPs, and Tom Tugendhat, the former Chairman of the Foreign Affairs, are also among the last five candidates to lead the Tory party and become the next UK prime minister far away from their fate.

BY: Zara Saleh

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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.