Tamkeen has signed an agreement with the Family Bank to increase the portfolio of the Micro-Finance Support scheme that provides small and medium enterprises as well as micro businesses with Shari’ah-compliant financing solutions to enable them to grow.
Tamkeen will pump an additional BHD 1 million into the Micro-Finance Support portfolio as the second phase of this scheme is approaching. This will bring the total value of the portfolio to BHD 2 million. Around 1000 enterprises are expected to benefit by the end of the second phase of this scheme. To date, 653 enterprises have benefited from this support with a total support value of BHD 1 million.
The Micro-Finance Support scheme is part of Tamkeen initiatives to support and develop the private sector and make it the engine of economic development. The scheme basically targets existing small enterprises -- including family businesses -- and low-income individuals, enabling them to start small businesses. Tamkeen subsidies 50 per cent of the profit cost charged for financing ranging from BHD 500 and BHD 7,000. In addition to financial support, the Family Bank offers advisory services to beneficiaries to enable them to correctly manage their businesses.
Read more: http://www.gulfbase.com/news/tamkeen-and-family-bank-sign-bhd-1-million-agreement/229815
Tamkeen will pump an additional BHD 1 million into the Micro-Finance Support portfolio as the second phase of this scheme is approaching. This will bring the total value of the portfolio to BHD 2 million. Around 1000 enterprises are expected to benefit by the end of the second phase of this scheme. To date, 653 enterprises have benefited from this support with a total support value of BHD 1 million.
The Micro-Finance Support scheme is part of Tamkeen initiatives to support and develop the private sector and make it the engine of economic development. The scheme basically targets existing small enterprises -- including family businesses -- and low-income individuals, enabling them to start small businesses. Tamkeen subsidies 50 per cent of the profit cost charged for financing ranging from BHD 500 and BHD 7,000. In addition to financial support, the Family Bank offers advisory services to beneficiaries to enable them to correctly manage their businesses.
Read more: http://www.gulfbase.com/news/tamkeen-and-family-bank-sign-bhd-1-million-agreement/229815
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