Tamkeen announced it will be taking special measures to support Bahrain’s private sector in the wake of COVID-19 and its effects on the economy.
The initiative comes after an announcement from His Majesty King Hamad bin Isa Al-Khalifa for all businesses and government agencies to stand united in the fight against the virus and the impact it has had on local businesses.
Tamkeen was quick to respond to the call and announced shortly after that the labor fund was already working towards providing private enterprises with all necessary support so they can wait out the storm without sustaining massive losses.
Tamkeen Chairman, H.E. Shaikh Mohammed bin Essa Al-Khalifa, himself assured businesses saying that Tamkeen has rolled out a new program called “Business Continuity Support,” which is designed specifically to cater to the requirements of businesses affected by the current market slowdown.
Additionally, Tamkeen will also help businesses restructure their debts in cooperation with the lending banks. The details regarding the support program will be soon available on Tamkeen’s social media channels.
Meanwhile, the Tamkeen chairman also stated that the consultation committee that will be overseeing the new program will be collaborating with the Bahrain Chamber of Commerce & Industry to ensure a coherent and effective policy.
Tamkeen’s recent brief to the media reads: “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.”
