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Timeline: David Cameron and Greensill Capital

As the former PM breaks his silence over lobbying for Greensill, we look back at the key moments in the saga
More than 30 days after David Cameron was first approached for comment over allegations that he had lobbied government ministers on behalf of the scandal-hit company Greensill Capital, he has broken his silence.
Greensill, which lent money to large businesses so that they could pay their suppliers, went into administration last month after insurers refused to renew contracts covering its loans. Here we look at the key moments in the saga.
2011
Greensill Capital is founded, with an initial focus on supply-chain finance. It will later diversify and launch conventional banking services through a German subsidiary, Greensill Bank.
According to Cameron’s latest statement, this same year the company’s founder, Lex Greensill, was brought in to work with the government by the then cabinet secretary, Jeremy Heywood.
2012
Lex Greensill offers advice to the Cameron government on a supply-chain finance initiative, with commitments from companies including construction group Carillion, which collapsed in 2018.
2014
The Cabinet Office recruits Lex Greensill as one of six new “crown representatives” to help tackle wasteful contracts and ensure that suppliers provide the best value for money.
24 June 2016
Cameron resigns as prime minister after losing the EU referendum.
2018
Cameron becomes an adviser to Greensill Capital and is given stock options in the company.
2 March 2021
Greensill Capital seeks insolvency protection in Australia and a rescue deal with new and existing backers, after two Swiss banks announce they are closing funds linked to the business over concerns about its true value.
Germany’s financial watchdog takes direct oversight of operations at the local subsidiary of the London-based lender.
4 March 2021
The FT reports that it has made repeated attempts to get a comment from Cameron regarding the company’s collapse and its ties to government.
8 March 2021
Greensill Capital files for administration.
12 March 2021
Liberty, the UK’s third-largest steelmaker, is forced to pause production at some of its UK plants to conserve cash as a result of Greensill’s collapse. Its parent company, GFG Alliance, employs about 5,000 people in the UK and was one of Greensill’s largest borrowers.
The first formal request for comment is submitted by the Guardian to Cameron’s office. He continues to ignore all requests from national media.
16 March 2021
It emerges that Cameron met an Australian insurance company employee who was dismissed over his alleged involvement in underwriting the controversial lending model at Greensill Capital.
19 March 2021
It is reported that Cameron lobbied senior government officials to give Greensill Capital special access to the largest available tranche of emergency Covid loans just months before the lender collapsed.
Nearly 450 job losses at Greensill Capital in London and Cheshire are announced.
21 March 2021
The Sunday Times reports that Cameron sent multiple texts to Rishi Sunak in April 2020 in the hope of gaining access to cheap, 100% government-backed loans through the Covid corporate financing facility (CCFF).
22 March 2021
The Conservative-dominated Treasury select committee declines to launch an inquiry into Cameron’s efforts to lobby government officials.
25 March 2021
It is reported that Cameron faces an investigation by the registrar of consultant lobbyists into a possible breach of lobbying law.
26 March 2021
British Business Bank launched an investigation into Greensill Capital and loans that it extended to Sanjeev Gupta’s steel empire months before its collapse, the Guardian learns.
The lobbying registrar clears Cameron, concluding that his activities had not met the criteria that required registration.
30 March 2021
A business card emerges that appeared to confirm that Lex Greensill had a role at the heart of Downing Street, prompting Labour to renew its calls for a full investigation into Cameron’s role.
4 April 2021
Labour calls for changes to lobbying law. The party says rules should be widened to include “in-house” roles such as Cameron’s for Greensill.
8 April 2021
The Treasury releases messages sent by Sunak to Cameron and says the former PM phoned junior ministers. In the messages, the chancellor tells Cameron he had “pushed the team” to find a way for Greensill to gain access to emergency Covid loans.
10 April 2021
It emerges that Cameron lobbied a senior Downing Street aide and Matt Hancock, the health secretary, on behalf of the company. Cameron also arranged a private drink with the health secretary and Greensill, it is revealed.
11 April 2021
Cameron finally breaks his silence, saying he worked within the rules but admitting that he had reflected on his conduct and that “important lessons” would be learned.
12 April 2021
No 10 launches an inquiry into Cameron’s lobbying for Greensill to be led by the legal expert Nigel Boardman.
source: Nicola Slawson
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BENEFIT AGM approves 10%...
- March 27, 2025
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.
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