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Tamkeen supports over 10,000 small firms

May 12, 2020 1:02 PM

Tamkeen Bahrain s labour fund said that more than 10 000 small and micro enterprises have been supported through the Business Continuity Support Program so far. Dr Ebrahim Mohammed Janahi chief executive...

Tamkeen, Bahrain’s labour fund, said that more than 10,000 small and micro enterprises have been supported through the Business Continuity Support Program so far.

Dr Ebrahim Mohammed Janahi, chief executive of Tamkeen, stated that applications are currently under review and Tamkeen will evaluate the extent to which each applicant meets the program’s criteria, as well as assessing the initial impact of Covid-19 containment measures on business activity. Tamkeen will expedite payments to businesses operating in heavily impacted industries. 

On this note, Dr Janahi explained that the evaluation process is conducted on a regular basis to meet the various needs of eligible small and micro enterprises, with enterprises entitled to receive an economic impact payment between BD1,050 ($2,762) and BD12,000, depending on the number of employees. Payments will be disbursed over three consecutive months, provided that each enterprise completes the requirements for each monthly payment by logging into the electronic portal and uploading receipts for their expenses on a monthly basis.

Dr Janahi reiterated that Tamkeen has been working continuously towards providing support to adversely affected enterprises and business owners. Tamkeen has extended its budget coverage to include taxicab, public transport and bus drivers, driving instructors, and kindergarten workers.

This decision comes following the orders of His Royal Highness the Prime Minister Prince Khalifa bin Salman Al Khalifa and the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister.

According to Dr Janahi, Tamkeen is working diligently to maximise beneficiaries, allocating its budget to the Business Continuity Support Program. This has resulted in total liabilities exceeding revenues, especially considering the suspension of labour market fees for a period of three months,  a main source for Tamkeen’s various development programs.

Dr Janahi reiterated that this program focuses on supporting small and micro enterprises that are affected by the repercussions of Covid-19 by helping them partially cover their operational expenses. – TradeArabia News Service

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