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INDUSTRIAL NEWS

Tamkeen scheme to support Covid-19 hit businesses

Mar 19, 2020 8:57 AM

Bahrain s Labour Fund Tamkeen has announced that it will redirect its focus on supporting enterprises in the private sector that have been affected by the current Coronavirus (Covid-19) situation. This...

Bahrain’s Labour Fund ‘Tamkeen’ has announced that it will redirect its focus on supporting enterprises in the private sector that have been affected by the current Coronavirus (Covid-19) situation.
 
This decision comes following the Royal directives of His Majesty King Hamad bin Isa Al- Khalifa to unite efforts in combating the virus and the impact it has had on local businesses, said a statement.
 
The kingdom has been working towards providing the necessary support for enterprises in the private sector to minimise this impact and help them sustain their businesses, it saId.
 
Support will be provided to the affected enterprises through a special programme called ‘Business Continuity Support’, designed to cater to the needs of such businesses allowing them to continue their operations without any problems, said Shaikh Mohammed bin Essa Al-Khalifa, the Chairman of Tamkeen. 
 
This includes redirecting Tamkeen’s programmes to provide support to entities affected by the current situation, in addition to restructuring their debts in cooperation with banks, he said.
 
The details of the support will be announced soon through Tamkeen’s social media channels where affected enterprises will learn more about how to benefit from this programme, he said.
 
Shaikh Mohammed also stated that Tamkeen’s consultation committee will be working collectively with the Bahrain Chamber of Commerce and Industry’s committee to provide enhanced solutions within the ‘Business Continuity Support’ programme.
 
In addition, an immediate survey is also planned to be released soon to identify the gaps within the market, the obstacles and difficulties enterprises face, and what they actually need to overcome such challenges, he added. – TradeArabia News Service

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