Vaccinated foreign visitors are welcomed in European Union
May 20, 2021, 4:40 am

Vaccinated foreign visitors are welcomed in European Union

By Philip Blenkinsop

European Union countries agreed on Wednesday to ease COVID-19 travel restrictions on non-EU visitors ahead of the summer, a move that could open the bloc’s door to all Britons and to vaccinated Americans.

Ambassadors from the 27 EU countries approved a European Commission proposal from May 3 to loosen the criteria to determine “safe” countries and to let in fully vaccinated tourists from elsewhere, EU sources said.

They are expected to set a new list this week or early next week. Based on data from the European Centre for Disease Control and Prevention, Britain and a number of other countries would meet the new criteria.

The United States would not, although Americans with proof of vaccination would be welcomed.

One EU diplomat said cases of the Indian variant in Britain would need to be taken into account, although individual EU countries are previously setting their own policies. Portugal lifted a four-month travel ban on British tourists on Monday.

Under current restrictions, people from only seven countries, including Australia, Israel and Singapore, can enter the EU on holiday, regardless of whether they have been vaccinated.

Individual countries can and will still be able to choose to demand a negative COVID-19 test or a period of quarantine.

The current main criterion is that there should be no more than 25 new COVID-19 cases per 100,000 people in the previous 14 days. The trend should be stable or decreasing and there should be a sufficient number of tests, which would need to show a minimum percentage of negative tests. Variants of concern can be taken into account.

The Commission proposed raising the case rate to 100. The EU ambassadors opted instead for 75. For inoculated people to gain access, they would need to have received an EU-approved vaccine, with those with a World Health Organization emergency listing being considered.

These people should have received final doses at least 14 days before travel. Under the plan, EU countries that waive test or quarantine requirements for vaccinated EU tourists are encouraged to do the same for vaccinated non-EU holidaymakers.

Children should as well be able to travel with vaccinated parents.

An emergency brake could be used temporarily to stop all but essential travel from a particular country to limit the risk of more infectious coronavirus variants entering the EU. Such a brake has been proposed for India.

The EU plan covers countries of the border-free Schengen area, including non-EU members Iceland, Liechtenstein, Norway and Switzerland, but not the non-Schengen EU member Ireland.

Source: Reuters

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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.