The Entrepreneur’s Organization commends Tamkeen’s ICT Finance Scheme

Bahrain, 14 Aug 2011 - Tamkeen conducted a workshop to raise awareness on the importance of Information and Communication Technology for businesses. The workshop was attended by more than fifty participants representing private sector enterprises including members of the Entrepreneurs’ Organization (EO) of Bahrain. The workshop provided an excellent opportunity for the attendees to get introduced to Tamkeen’s initiatives, with a special emphasis on the Information and Communication Technology Finance Scheme.

The event commenced with an overview of various schemes of Tamkeen for Private Sector Support and Human Capital Development programmes followed by an elaborate presentation of the Information and Communication Technology Finance Scheme.

The Information and Communication Technology Finance Scheme is a pilot initiative launched by Tamkeen that aims to enhance the capacity of businesses to absorb information and communication technology systems in business operations and processes.

The scheme offers financing to beneficiary businesses in the range from BD 3,000 to BD 50,000 that could be repaid over a period extending up to 5 years.  Tamkeen will extend its support by subsidizing 100% of the profit due on behalf of the enterprises. 

Moreover, Tamkeen will provide up to 25% discount on the principal of the finance amount if the enterprise repays the finance over a shorter period of time as specified in the project terms and conditions.   The Tamkeen’s subsidized scheme is being offered in cooperation with partner banks - BMI Bank and Bahrain Islamic Bank.

Tamkeen’s Manager, Private Sector Support, Dr. Mohammed Amin, said that “Tamkeen is very keen to liaise with the different societies and associations to promote its supportive programmes and initiatives.  This workshop with the Entrepreneurs Organization enabled Tamkeen to showcase and promote one of its newly launched programmes which is the ICT Finance Scheme. The participants enriched the workshop with their experiences about the role ICT may play in promoting the competitiveness and productivity of the SMEs.”

The Entrepreneurs’ Organization (EO) is a dynamic global network of more than 7,000 business owners in 38 countries, and 113 chapters.  Founded in 1987 by a group of young entrepreneurs, EO is the catalyst that enables entrepreneurs to learn and grow from each other, leading to greater business success and an enriched personal life. Mr. Basim Al-Saie, the Director for EO – Bahrain Chapter said, “TAMKEEN has spared no effort in supporting businesses with much dedication and determination. I encourage all members of the Entrepreneurs’ Organization to avail the benefits from Tamkeen’s Information and Communication Technology Finance Scheme and transform their businesses with the introduction of technology.”

Tamkeen invites private sector enterprises to apply for the Information and Communication Technology Finance Scheme through contacting Tamkeen’s Information and Communication Technology (ICT) Agency Wipro on 80014141 or[email protected]. Wipro is responsible for running the day-to-day operational activities of the programme which includes applications processing, following up with partnering banks and beneficiaries, and empanelling Information and Communication Technology consultancy providers.

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