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As part of their joint efforts to provide financing solutions to help enterprises meet their needs and achieve their business objectives, Tamkeen and Ithmaar Bank signed an agreement to add BD10 million to their joint enterprise finance scheme portfolio.
Commenting on the agreement, Tamkeen Chairman and Acting CEO H.E Shaikh Mohammed bin Isa Al Khalifa said: "Through its various programmes, Tamkeen seeks to help enterprises achieve their developmental goals and provide them with opportunities for expansion and growth. This includes financing solutions that make it easier for these enterprises to succeed in their ventures and projects. To achieve this, Tamkeen cooperates with partners sharing the same objectives, amongst which is Ithmaar Bank, one of leading financing institutions in the kingdom."
Ithmaar Bank CEO Ahmed Abdul Rahim said: "We are pleased to participate in this Bahrain Government initiative together with Tamkeen to help enterprises realise their strategic objectives. The enterprise finance scheme will provide the foundation and engine for growth of business and the economy. This is part of the bank's efforts to open new prospects for enterprise to achieve sustainability and growth, diversify their businesses, expand their customer bases, and build a solid foundation for future development."
With the signing of this agreement, the total financing offered through Tamkeen's Finance scheme in cooperation with partner banks reached BD372.5 million. More than 6,000 enterprises benefited from the programme to date.
For more information about the scheme and how to benefit from it, please call 17383333, contact support@Tamkeen.bh, or visit any Tamkeen or Ithmaar Bank branches available across the kingdom.
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About Tamkeen:
Tamkeen is a semi-government organisation in Bahrain established in 2006 by Royal Decree as part of the country's national reform initiatives, with the task of making the private sector as the key driver of sustainable economic development. Underpinned by its three strategic pillars -enhancing quality, serving customers, and achieving results, the organisation provides an integrated range of programmes, which address key challenges facing Bahrainis and businesses in the private sector at various stages of their development. As of end of 2014, Tamkeen's programmes have served more than 110,000 Bahrainis and businesses.
More information available at www.tamkeen.bh
For media inquiries, please contact:
Tamkeen Marketing Communications Dept.
T: 17-383333
F: 17-382352
E: support@tamkeen.bh
About Ithmaar Bank:
Ithmaar Bank B.S.C. (stock code "ITHMR") is a Bahrain-based licensed Islamic retail bank that is regulated by the Central Bank of Bahrain and provides retail, commercial, treasury & financial institutions and other banking services.
Ithmaar Bank is a subsidiary of Dar Al-Maal Al-Islami Trust (DMI), and has a paid-up capital of US$757.69 million, total shareholders' equity of US$501.2 million and is listed on the Bahrain Bourse and the Kuwait Stock Exchange.
Ithmaar Bank provides a diverse range of Sharia-compliant products and services that cater to the financing and investment needs of individuals and institutions.
Ithmaar also maintains a presence in overseas markets through its subsidiaries, associated and affiliated companies. These include Faysal Bank Limited (Pakistan), Faisal Private Bureau (Switzerland), Bahrain-based BBK, Ithmaar Development Company Limited, Solidarity (an Islamic insurance company), Naseej and Ithraa Capital (Saudi Arabia).
© Press Release 2015