Boris Johnson tells former treasurer he does not want to resign as PM
July 26, 2022, 9:00 am

Boris Johnson tells former treasurer he does not want to resign as PM

UK Prime Minister Boris Johnson - Official Facebook account

Boris Johnson told former treasurer Peter Cruddas that he "does not want to resign" as U.K. prime minister and wishes he could "wipe away" his departure, The Telegraph reported on Monday (July 25).

The report said that Johnson also told Cruddas over lunch on Friday (July 23) that he "wants to fight the next general election as leader of the Conservative Party.”

"There was no ambiguity in Boris's views. He definitely does not want to resign. He wants to carry on and he believes that, with the membership behind him, he can," the report quoting Cruddas as saying.

On July 7, Boris Johnson has quit as Conservative leader, saying it is "clearly now the will" of Tory MPs that there should be a new leader.

Days before stepping down, Johnson had come under immense scrutiny, with a string of resignations since July 5, including that of Chancellor of the Exchequer Rishi Sunak and health secretary Sajid Javid, two of the most pivotal members of Johnson’s cabinet.

The UK government crisis in Westminster was triggered by an affair involving Johnson’s party colleague Chris Pincher, the deputy chief whip.

A view shows cabinet room in 10 Downing Street during British Prime Minister Boris Johnson's birthday, in London, Britain June 19, 2020 in this picture obtained from civil servant Sue Gray's report published on May 25, 2022. Sue Gray Report / gov.uk/Handout via REUTERSReuters

Johnson had nominated Pincher, who faces multiple counts of sexual harassment allegations, for the role. He initially denied knowing about the allegations until it became apparent that he had lied.

Boris Johnson wins confidence vote and will continue as caretaker PM

However, the Pincher case was merely the latest in several scandals Johnson either played some role or was the main culprit.

He was criticised for illegal parties at his Downing Street office during the coronavirus lockdown.

Recently, the weeks-old Tory leadership contest to replace outgoing prime minister Boris Johnson has turned increasingly bitter, with both Rishi Sunak and Liz Truss fiercely briefing against each other.

Boris Johnson refuses to endorse any of the successors

The two prime ministerial contenders clashed fiercely over tax, China and character on Monday night (July 25) in their first head-to-head televised debate.

Monday's BBC debate showcased that acrimony, with former finance minister Sunak savaging Foreign Secretary Truss' plans to slash taxes immediately -- a key dividing line between the pair.

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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.