19/03/2020

Labour Fund ‘Tamkeen’ announces its ongoing efforts to continue supporting the private sector and to redirect its focus on supporting enterprises in the private sector that have been affected by the current with the 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. As such, the Kingdom has been working towards providing the necessary support for enterprises in the private sector to minimize this impact and help them sustain their businesses.

His Excellency Shaikh Mohammed bin Essa Al-Khalifa, the Chairman of Tamkeen mentioned: “Support will be provided to those affected enterprises through a special program “Business Continuity Support” designed to cater the needs of such businesses allowing them to continue their operations without any jeopardies.”

This includes redirecting Tamkeen’s programs to provide support to entities affected by the current situation, in addition to restructuring their debts in cooperation with the banks.

The details and developments 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 program.

H.E Shaikh Mohammed also stated that the consultation committee will be working collectively with the Bahrain Chamber of Commerce & Industry’s committee to provide enhanced solutions within the Business Continuity Support program.

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 to do they actually need to overcome such challenges.