Tamkeen & Khaleeji Bank Signs Agreement

Manama – 17 March, 2015: Tamkeen has signed an agreement with Khaleeji Commercial Bank to further expand the low financing options available to SME’s in Bahrain through Tamkeen’s flagship Finance Scheme. The agreement adds BD 10 million to the scheme’s portfolio, bringing the total portfolio value to BD 342.5 million.

The agreement will further broaden the enterprise customer base reached under the programme which is offered through a number of partner banks in Bahrain, with the aim of offering affordable access to capital to enterprises to fuel their growth and diversification.

Tamkeen Chairman and Chief Executive H.E Shaikh Mohammed bin Essa Al Khalifa, commented: “Tamkeen’s programmes have always sought to support business creation and development to enhance the sustainable economic growth of the private sector. Through new concepts such as SME financing facilitated by our finance programme, this segment is afforded more financing opportunities which open new avenues for businesses to thrive.”

On his part, Chief Executive Officer of Khaleeji Commercial Bank, Mr. Khalil Al Meer said “Khaleeji Commercial Bank is proud to support Tamkeen’s efforts in financing SMEs and private enterprises in Bahrain. We believe that this step will further enhance the Bank’s role in the continued economic growth of the Kingdom of Bahrain and the major business activities in this sector. We are also pleased that our financing and investment opportunities can further reach a broader customer base and available to support SME’s and businesspersons.”

In addition to Khaleeji Commercial Bank, Tamkeen’s partner banks in the scheme include Bahrain Islamic Bank, BMI Bank, Al Salam Bank, Kuwait Finance House, Al Baraka Islamic Bank and Standard Chartered Bank .