Tamkeen announces new strategic partnerships with 6 banks to expand enterprise financing schemes

In line with the Labour Fund’s (Tamkeen) new support programs, Tamkeen signed new strategic partnership agreements with Bahrain Islamic Bank, Khaleeji Commercial Bank, Al Baraka Islamic Bank, Kuwait Finance House, Ithmaar Bank, and Al Salam Bank to provide a comprehensive range of financing solutions for private sector enterprises.

The signings are an addition to previously announced strategic partnership agreements with Bahrain Development Bank and Ahli United Bank. These partnerships provide enterprises with the necessary capital to fuel their development and growth locally and internationally. Tamkeen’s 2021-2025 strategy aims to deliver higher impact for the economy in alignment with national economic priorities and market needs.

On this occasion, H.E. Husain Mohamed Rajab, Chief Executive of Tamkeen welcomed this collaboration with financial institutions, emphasizing the role Tamkeen plays by incentivizing investment, employment and training across all sectors with a special emphasis on high potential sectors, all of which create a positive ripple effect across the national economy.

He said: “We highly value these strategic partnerships with key players in Bahrain’s financial services sector to facilitate opportunities for growth and development for enterprises in the Kingdom. These financing schemes help companies achieve their business objectives, therefore empowering their success and increasing their contribution to our national economy.”

Empowering enterprises is one of Tamkeen’s core mandates and as such, Tamkeen has supported over 65K enterprises in Bahrain through various programs and initiatives, providing specific support when required, including through the business continuity program which supported over 22K enterprises during the global pandemic.

Source : Startup MGZ