UK hints it will give full diplomatic status to EU ambassador
May 3, 2021, 10:17 am

UK hints it will give full diplomatic status to EU ambassador

The EU flag flies outside Europe House in London. The UK has declined to give the bloc’s ambassador full diplomatic status on the basis that he does not represent a country.

Dominic Raab says he wants to turn page on Brexit saga and treat EU with respect it deserves

The government has hinted that it will grant full diplomatic status to the EU ambassador to the UK, with the foreign secretary, Dominic Raab, saying he is looking to turn the page on the Brexit saga and wants to treat the EU with the respect it deserves.

UK officials said no final decision had been made, days before the EU external affairs chief, Josep Borrell, visits the UK this week for a meeting of the G7 foreign and development ministers. The EU normally attends meetings of the G7, but the Foreign Office made no mention of Borrell in advance briefings, referring only to guest visitors from the foreign ministries of South Korea, Australia, India and South Africa. A representative of the Asean group of 10 south-east Asian countries will also attend.

The UK has declined to give the EU ambassador, João Vale de Almeida, full diplomatic status on the basis that he does not represent a country. He has instead been given diplomatic recognition, which is one rung below.

It is understood there has been discreet pressure from the US for the UK to sort out the diplomatic row given the common threat posed to the west by China, Russia and other authoritarian states. It is seen as symptomatic of a wider inability of the EU and the UK to rebuild relations after Brexit. The US secretary of state, Antony Blinken, will attend the G7 talks in the UK, the first face-to-face diplomacy of any scale since the start of the Covid pandemic.

Asked about the diplomatic status of the EU ambassador, Raab said: “Look, we’re pragmatic about this, of course the EU’s … not quite a normal state. We’re engaged in negotiations and I’m sure we’ll get that result.

“We will treat our EU partners with all of the respect that they rightly deserve … we’re looking forward to turning the page on the Brexit saga.”

The UK is still in dispute with the EU over implementation of the post-Brexit trade agreement, and has emphasised the joint work it is doing through the G7 and the E3 – the ad hoc group of France, Germany and the UK.

The absence of full UK diplomatic immunity for EU diplomats stems from the fact that the EU is not a nation state but an international organisation. The EU says it has negotiated full diplomatic status with 140 other states.

At one level, the distinction in terms of real-world consequences is minimal, because a diplomat from an international body does not enjoy full diplomatic immunity for something that occurs outside their working time. The symbolism, however, is seen in Europe as something deeper about the UK’s refusal to accept the role of the EU in representing 27 nation states.

source: Patrick Wintour

Levant

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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.