Tamkeen, Family launch sustainability initiative
Manama, May 6, 2013
Tamkeen and Family Bank have announced the launch of ‘Mantoojati’, a joint initiative aimed at enhancing the growth and sustainability of productive families in Bahrain.
This is in line with Tamkeen’s on-going efforts to enhance the capabilities of enterprises in Bahrain and their contribution to the economic development of the kingdom, a statement from the organisation said.
The initiative is available to productive families that would like to create more awareness about their products. Through ‘Mantoojati’, the beneficiaries will receive support to set up kiosks in selected shopping malls around the kingdom to market their products and services to a wider customer base.
The support will be around BD6,000 ($15,906.7) per applicant and will cover the cost of renting and setting up a booth, the statement said. This will be complemented by the advisory services already provided to the beneficiaries by Tamkeen and Family Bank.
Mohammed Bucheery, Tamkeen's senior manager private sector support, said: “Productive family products are part of the engine which drives innovation and economic growth. With the right kind of support, they have the potential to expand and develop. Through ‘Mantoojati’, these types of businesses will be able to vastly improve their exposure and accelerate growth.”
Dr Atef Elshabrawy, CEO of Family Bank, said: “This programme seeks to encourage and motivate local and home-made goods and crafts, which the bank supports through funding and guidance. This initiative is a step towards opening new opportunities for Bahrainis that make these products to grow their capabilities and market those products.”
“Family Bank, through its financing and non-financing programmes, strives to be a full-range bank that provides many support services for micro-enterprises and those that manage it, who invest their talent, skill, energy in them along with the contributions of their families and friends, which assists in the growth if these type of projects and their role within the economy.”
More than 75,000 enterprises and Bahrainis have benefited from Tamkeen’s support programmes to date. 100,000 are set to benefit from the programmes in total.
Family Bank has been established as an initiative by the Ministry of Social Development, in partnership with The Royal Charity Organisation, Bank of Bahrain and Kuwait, Ithmaar Bank, Ahli United Bank and Kuwait Finance House under the cooperation framework set by Garemeen.
The bank received certification from the Central Bank of Bahrain and was opened in January 2010 as the first social bank specialising in micro-financing that works under the principals of Islamic Sharia’a.
Since its establishment, the bank has provided its financial services to more than 1,000 beneficiaries, as well as hundreds that benefited from non-financial services through participation in exhibitions and training workshops. – TradeArabia News Service