Tamkeen and the Bahrain Development Bank (BDB) has signed an agreement in order to launch a BD20 million portfolio within the Tamweel+ program to finance the medium and large enterprises in Bahrain while being in compliance with the Islamic Sharia. The agreement was signed by the CEO of Tamkeen, Dr. Ebrahim Mohammed Janahi, and the CEO of BDB Mr. Sattam Sulaiman Algosaibi.
The new financing aims to meet the need of the enterprises, in terms of covering investment procedures, expansion, diversification of products and services, and more. Tamweel+ program supports Bahraini project that require funding between BD1 million to BD2.5 million, while Tamkeen pays 70% of the profit rates. These transactions will be carried out by the BDB.
Dr. Ebrahim Mohammed Janahi, Chief Executive of Tamkeen said: “We are delighted with the steady growth of joint programs and initiatives with the Bahrain Development Bank in support of private sector enterprise development. The portfolio will surely reach a larger segment of clients to advance their business and achieve the desired sustainability, driving the economic development of the Kingdom.”
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