Bahrain-based Khaleeji Commercial Bank (KHCB) has launched its new financing scheme for small and medium enterprises (SMEs) to enhance productivity and growth in the market to achieve economic development in the kingdom.

"One of KHCB's most vital objectives is to have a positive contribution to Bahrain's economic development by providing a financing solution to SMEs and have an immense impact on Bahrain's advancement," chief operating officer and acting chief executive Silvan Varghese was quoted as saying by our sister publication, the Gulf Daily News.

"Tamkeen is tasked to support the development of Bahrain. We would like to thank Tamkeen's collaboration with us in making this project available in the market, and become a provider for Bahrain's economic growth," he added.

The amount ranges from BD10,000 ($26,374) to BD500,000 with an annual profit rate of four per cent on reducing basis over tenure of up to seven years. – TradeArabia News Service