Tamkeen and Bahrain Development Bank (BDB) signed an agreement to add BD20 million to their joint enterprise finance portfolio, bringing its total amount to BD190 million. Through their partnership, Tamkeen and BDB provide sharia-compliant finance facilities to SME’s under Tamkeen’s Enterprise Finance Programme.
Commenting on the agreement, Tamkeen Deputy Chairman Khaled Al Amin said: “Through its various programmes, Tamkeen addresses the challenges that the private sector faces with a view to promote this sector and making it the key driver of sustainable economic development. This includes helping SME’s in Bahrain obtain the necessary funds they require to expand and diversify their businesses. Tamkeen has always cooperated with leading organisations that play a role in supporting private sector enterprises, and is proud to have BDB join in this initiative.”
Nedhal Saleh Al Aujan, BDB Chief Executive Officer, lauded the benefits of the programme: “The joint Tamkeen-BDB finance portfolio was increased in light of the efficiency of this programme and the success of the strategic partnership between the two organisations. The programme contributes to the development of SME’s and provides facilities and benefits to aspiring entrepreneurs in the kingdom.”