With an initiative to enable Bahraini private sector enterprises especially the small and medium enterprises (SMEs) to achieve greater competitiveness and operational efficiency through adoption of the latest Information and Communication Technology (ICT) solutions, Tamkeen announces the launch of the ICT Finance Scheme.
On the occasion of the launch, Dr. Ahmed AbdulGhani Al Shaikh, Tamkeen's Vice President for Enterprise and Human Capital Development said, "The ICT Finance Scheme is Tamkeen's pro-active response to the global challenges faced by Bahraini enterprises in the procurement of ICT applications for business improvement. The programme is built with a motive to facilitate ICT uptake by enterprises so that it becomes a part of their development and empowers them to sustain themselves in a very competitive market".
Tamkeen will target fifty participating enterprises in the pilot phase of the project. The targeted enterprises will be selected on the basis of pre-set criteria that will measure the impact of the adopted ICT systems on the enterprises' operational and competitive competencies.
Tamkeen has signed an agreement with Bahrain Islamic Bank (BIsB) to allocate a portfolio of BD One million to finance this scheme. The beneficiaries of the ICT finance scheme may apply for finance amounts that range from BD3,000 to BD50,000 to finance the cost of the ICT systems. Tamkeen will contribute to financing 100% of the profit cost on behalf of the beneficiary enterprise; moreover, the beneficiaries may become entitled to an additional subsidy of a maximum of 25% discount on the principal of the finance amount. The aim of the subsidy in the profit amount and discount in the finance's principal is to increase the feasibility of the uptake and upgrade of the ICT systems by the private sector enterprises, especially the SMEs, by making these systems more affordable.
The CEO of BisB, Mohammed Ebrahim Mohammed has commented on the launch of the ICT Finance Scheme saying, "This partnership with Tamkeen comes as a result of a fruitful relationship between the two organisations, enhanced by signing the Enterprise Financing Scheme earlier this year. BisB is proud to continue its partnership with Tamkeen and become the first bank in Bahrain to offer such scheme in the market to assist enterprises develop and cope with the current ICT requirements and trends in the market. BisB welcomes the enterprises to inquire and apply for the scheme and benefit from the other services provided by BisB to support their businesses."
As part of its objectives, the ICT scheme aims to promote and create awareness of best practices in aligning business strategies with ICT capabilities amongst the private sector enterprises especially amongst the SMEs. The scheme will accordingly present enterprises that excelled in their adoption behavior of the ICT by promoting the potential benefits ICT created to these enterprises. The scheme will conclude by selecting a model enterprise that followed the best ICT -business alignment practice.
WIPRO Bahrain W.L.L. will be managing the ICT Finance Scheme programme on behalf of Tamkeen. WIPRO will be in charge of running the day-to-day operational activities of the programme.
Tamkeen's Senior Manager of Private Sector Support, Mr. Mohammed Bucheery, said "Tamkeen welcomes ICT enterprises to benefit from the scheme. We urge the enterprises to apply for the scheme with the Information and Communication Technology Agency appointed by Tamkeen, either by contacting the ICT agency on 80014141 or visiting the scheme website: www.tamkeen.bh/icta"
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About Tamkeen:
Tamkeen is a semi-autonomous yet independent authority which formulates strategic and operational plans to enhance the overall prosperity of Bahrain by investing in Bahraini employability, job creation and social support. Tamkeen is funded by the fees collected by the LMRA.
Tamkeen's main objectives are to support Bahrainis to become the employees of choice, and to support high quality private sector job creation
To achieve these objectives, Tamkeen will invest in the cost and quality competitiveness of Bahrainis (e.g., reduction of cost of employing Bahrainis relative to expatriates, investment in skill and work ethic development programs of Bahrainis); in tackling employment barriers on both employer and labour market entrants' sides through a combination of financial incentives and capability building, and in supporting the private sector's adjustment to new cost structures by providing access to capital to alleviate short term cash constraints or improve productivity, and in know-how initiatives that support improvements in productivity and decreased reliance on expatriate labour through spreading management and technical knowledge.
Tamkeen has invested more than BD 140 million in more than 70 projects targeting 45,000 Bahrainis and 8,000 enterprises. Programmes are continuously being devised as per Tamkeen's strategy and the numbers of beneficiaries are continuously increasing.
For more information on our programmes and initiatives, please contact:
Marketing Communications
Tamkeen
Kingdom of Bahrain
Tel: 17383326/17383327
Fax: 17382352
Email: info@tamkeen.bh
Website : www.tamkeen.bh
http://www.facebook.com/TamkeenBahrain
http://twitter.com/TamkeenBahrain
http://www.youtube.com/TamkeenBahrain
© Press Release 2011
