UK offers world's top graduates new visa option
May 30, 2022, 4:10 pm

UK offers world's top graduates new visa option

Graduates from the world's top universities will be able to apply to come to the UK under a new visa scheme - Photo: Pixabay

The UK is issuing a new visa scheme that will allow alumni of the top non-UK universities who have graduated in the past five years to apply to come to the country.

According to the BBC, the government says the "high-potential individual" route will attract the "brightest and best" early in their careers.

Graduates will be eligible regardless of where they were born, and will not need a job offer in order to apply.

Successful applicants will be given a work visa lasting two years if they hold a bachelor's or master's degree, and three years if they hold a PhD. They will then be able to switch to other long-term employment visas if they meet certain requirements.

Everyday life in London city, UK (Photo: Pixabay)

To qualify, a person must have attended a university which appeared in the top 50 of at least two of the Times Higher Education World University Rankings, the Quacquarelli Symonds World University Rankings or The Academic Ranking of World Universities, in the year in which they graduated.

The list of eligible universities from 2021, published online by the government, featured 20 US universities, including Harvard, Yale and MIT.

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There were a further 17 qualifying institutions, including the University of Hong Kong, University of Melbourne and the Paris Sciences et Lettres University.

Some academics have voiced their disappointment that no South Asian, Latin American or African universities have been included on the list.

Christopher Trisos, director and senior researcher at the University of Cape Town, told the BBC that it is a deeply inequitable approach.

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He said that if the UK wants to play a role in addressing the major challenges of this century, such as energy access, climate change and pandemics, "then they need to be recognising and including diverse skills and in-depth knowledge held by many graduates from universities in developing countries".

The visa will cost £715 plus the immigration health surcharge, a fee which allows migrants to the UK to use the NHS.

Graduates will be able to bring their families, although they must have maintenance funds of at least £1,270. They will also have to pass a security and criminality check and be proficient in English to at least the B1 intermediate level, defined as having the "fluency to communicate without effort with native speakers".

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.