BBK continues to empower private sector enterprises with financing solutions

BBK continues to empower private sector enterprises with financing solutions.

Bank of Bahrain and Kuwait (BBK), Bahrain’s pioneer in retail and commercial banking, has announced its commitment in offering financing solutions to support the business needs of SMEs and Large private enterprises across the different sectors. 

This initiative which has been adopted in 2022 is a collaborative effort with the Labour Fund (Tamkeen), signifying BBK’s leading position in the market and its role in helping to drive economic sustainable growth in the country.

The Financing Support Program provides tailored financing products aligned with the business lifecycle at subsidized rates. The facilities offered are in the form of a Sharia-compliant Murabaha which can range up to BHD 1 million depending on the purpose and facility type.

Nadeem Al-Kooheji, General Manager of Corporate Banking at BBK, emphasized that this significant collaboration with Tamkeen reflects the Bank’s dedication to diversifying the methods of support towards the private enterprises, noting their influential impact on the country’s GDP.

Al-Kooheji highlighted the crucial role of the Tamkeen’s Financing Support Program in achieving the Bank’s strategic vision which seeks to maintain a stable economic environment as well as promote the growth of the SMEs by means of addressing their challenges in acquiring adequate financing solutions.

The program offers financing solutions for private entities subject to an eligibility criterion in the form of short-term working capital facilities and long-term facilities for expansion and growth purposes, where they are entitled to a repayment period of up to 7 years. The profits from the facilities are subsidized up to an approved capped amount on a reducing balance basis.