1.What is Business Continuity Program?
Following the Royal Directive of His Majesty King Hamad bin Isa Al Khalifa, to unite the national efforts to combat the repercussions of COVID-19 and the impact it had caused on economic levels, Tamkeen launches the Business Continuity Support Program to offer financial support to adversely affected small and micro enterprises. This comes as part of the economic stimulus packages announced by the Government of Bahrain.
2.Who is eligible to benefit?
Active CR/valid licenseMicro and small enterprises (up to 50 employees)
Based and operating in Bahrain
Employees should be registered under SIO/LMRA
Provides audited financial statement or inhouse management accounts for 2019 (if available)
Enterprises should not be owned more than 50% by the Government
Enterprises should not have active LMRA offenses
Enterprises should not be blacklisted by Tamkeen
3.How to apply?
Create and activate your online account through Tamkeen’s portal (www.Tamkeen.bh)
Log in to your account and register your enterprise under ‘My Companies’
Provide your bank IBAN details
Create and submit a ‘Business Continuity Support’ application
Application will be verified and evaluated.
Upon approval, the first payment will be transferred to your bank account
Submit a payment request along with the supporting documents for the second and third payment
4.What are the required documents to apply for the program?
Last 3-months Electricity & Water Bill
Last 3-months Bank Statement
Audited Financial Statement and/or inhouse management accounts for 2019 (if available)
Evidence that proves the enterprise is adversely affected by COVID-19
5.What are the required evidential documents?
Any documents that proves the enterprise is affected, for example, but not limited to:
Closure of the company if conducting any of the banned commercial activities announced by Coronavirus committee
Financial reports and management accounts proving that the enterprise has been affected the past three months
Other financial claims
6.How is the grant amount determined?
The grant amount is determined based on the enterprise size. The grant is divided into 3 monthly installments whereby the first payment will be processed shortly upon approval
7.What are the required documents to request for a payment?
The first payment shall be transferred to the enterprise bank account upon approval.
For the second and third payment, the enterprise must provide evidence of previous payment utilization.
Evidence may include but not limited to copy of cheques, bank transfers, invoices, receipts, bank statements for operational costs. Any form of cash payments shall not be accepted.
8.What happens if my enterprise does not have a bank account?
9.How long is the contract?
10.Can I benefit if I have previously benefited from any of Tamkeen’s programs?
Yes, given the enterprise meets the eligibility criteria
11.Can I benefit from Tamkeen’s other programs, besides the Business Continuity Support?
Tamkeen’s other programs are currently suspended, where the primary focus is to support the adversely affected enterprises
12.For how long is the program active?
Tamkeen is providing this program as part of its ongoing national efforts to combat the repercussions of the Coronavirus and the impact it has caused on economic levels. The program will be available for 2 weeks to evaluate submitted applications. Any further details will be announced through Tamkeen’s official channels
13.What if my CR/License legal status changes?
14.Are virtual CRs eligible for the support?
Yes, the program also supports enterprises with a virtual CR
15.What companies do not meet the eligibility criteria?
Other than those specified in the eligibility criteria, brokerage, financing companies, public benefit associations, and holding companies are not eligible