The Finance Scheme is Tamkeen’s flagship programme, which provides Bahrain-based enterprises with financing solutions in order to help them improve overall business activities.

The agreement raises the value of the finance scheme between Tamkeen and the Bahrain Islamic Bank to BHD 30 million — from which more than 150 enterprises have benefited to date. Upon this announcement, the total value of the Finance Scheme has increased to up to BHD 210 million. Since its launch, the Finance Scheme has enabled more than 4900 enterprises across various sectors, including more than 1000 startups and 1000 micro enterprises, to obtain financing, with a total amount exceeding BHD 150 million.

“We are pleased to sign this agreement, that reflects Tamkeen’s and Bahrain Islamic Bank’s commitment, along with all our financing partners, to providing easy finance solutions to enterprises, especially small and medium enterprises, to enable them to acquire the capital they need for growth, expansion, and contribution to the national economy,” said Tamkeen’s Chief Executive Mr. Mahmood Hashem Al-Kooheji.

For his part, BisB Chief Executive Mohamed Ebrahim Mohamed said, “We are pleased to sign this Agreement with Tamkeen for the third successive time which confirms the continuation of partnership and co-operation between the two sides with a view to supporting the biggest possible number of small and medium enterprises in the Kingdom.”

Mohamed Ebrahim added, “Through this Agreement, we are committed to provide BHD 10 million in finance to support small and medium enterprises as part of our keen desire to back private sector businesses. In fact, standing by small and medium size enterprises is a national duty and a positive step of which we are proud as it will directly contribute to improving the skills and capabilities of hundreds of citizens employed in this sector in addition to providing them with suitable job opportunities.”

Tamkeen offers its Enterprise Financing Scheme in cooperation with a number of local banks that include, in addition to the Bahrain Islamic Bank: Bahrain Development Bank, BMI Bank, Al Salam Bank, Kuwait Finance House, Khaleeji Commercial Bank, and Standard Chartered Bank. For Micro Financing, Tamkeen cooperates with Family Bank and Ebdaa Bank.

Entrepreneurs wishing to benefit from the Tamkeen Enterprise Finance Scheme can visit Tamkeen website www.tamkeen.bh or contact the numbers and addresses on the website to learn more about the eligibility criteria and the required documents.