Manama, April 3 / BNA / In line with the new support programs of the Labor Fund (Tamkeen), Tamkeen signed new strategic partnership agreements with Bahrain Islamic Bank, Khaleeji Commercial Bank, Al Baraka Islamic Bank, Kuwait Finance House and Ithmaar Bank. Al Salam Bank offers a comprehensive range of financing solutions for private sector institutions.
The signatures are in addition to the previously announced strategic partnership agreements with Bahrain Development Bank and Ahli United Bank.
These partnerships provide the necessary capital for organizations to support their development and growth locally and globally. Tamkeen’s strategy 2021-2025 aims to achieve a greater impact on the economy in line with national economic priorities and market needs.
On this occasion, Hussain Mohamed Ragab, CEO of Tamkeen, welcomed this cooperation with financial institutions, stressing the role that Tamkeen plays by stimulating investment, employment and training in all sectors with a special focus on sectors with high potential, all of which create a positive ripple. Impact across the national economy.
He said: “We highly value these strategic partnerships with key players in Bahrain’s financial services sector to facilitate growth and development opportunities for institutions in the Kingdom. These financing schemes help companies achieve their business goals, thus enabling their success and increasing their contribution to our national economy.
Empowering enterprises is one of Tamkeen’s core missions, and as such, Tamkeen has supported more than 65,000 enterprises in Bahrain through various programs and initiatives, and provides specific support when needed, including through a business continuity program that has supported more than 22,000 Foundation during a global pandemic. Furthermore, Tamkeen has enabled more than 19,000 entrepreneurs to launch new businesses, and foster a thriving startup ecosystem in Bahrain. Tamkeen’s partnership with financial institutions to provide financing plans spans over 13 years, supporting more than 7,000 micro and small businesses. This initiative builds on years of impact local businesses have had, providing them with more financing options to increase their success. Support will be provided through some of Tamkeen’s recently announced programs, including Start Your Business, Business Growth, Go Digital, and others.
Tamkeen recently launched 16 support programs as part of its strategic transformation initiative that focuses on making a greater impact on the national economy. These programs serve Tamkeen’s main objectives of making the private sector an engine of economic growth and Bahrainis the preferred employee locally and internationally, thus enhancing their contribution to sustainable economic development in the Kingdom.
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