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Tamkeen discusses key 2013 strategies

Manama, October 6, 2013

Bahrain labour fund Tamkeen discussed its operational progress and financial reports for the first half of the year ending on June 30 during its annual board of directors' meeting held yesterday.

The progress report showed that the number of Bahrainis and businesses served by Tamkeen during the first half of the year reached around 14,000. As of the end of August, the overall number of Bahrainis and businesses served by Tamkeen reached around 98,000.

"We strongly believe that the success of Tamkeen is measured by the success of its beneficiaries, and we know that the public's expectations of Tamkeen are very high, especially in light of the return of the LMRA fees," Tamkeen chairman Shaikh Mohammed bin Essa Al Khalifa said.

"The public consultation workshops currently being held with various sectors will help us align our support programmes and processes with these expectations, and identify new ways in which we can help Bahrainis and businesses grow," he remarked.

The financial statements showed that fees from LMRA - Tamkeen's sole source of income - amounted to BD14.3 million ($38 million) in the first half, with Tamkeen spending BD23.3 million on project expenses, said a statement from Tamkeen.

The company spent BD8.7 million for the unemployment insurance which it pays to the Social Insurance Organisation, while the operating expenses for the period stood at BD2.9 million, it added.

The board comprises nine members representing organisations which spearhead the development of the private sector, with three members representing the public sector and six from the civil sector. The meeting also discussed preparations for its 2014 operational plan.-TradeArabia News Service
 




Tags: Bahrain | SME | Tamkeen |

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