Tamkeen and the Bahraini Saudi Bank (BSB) signed Sunday a Shariah-compliant agreement for the financing and support to private sector businesses. The agreement was signed by Dr. Ahmed AbdulHameed Al-Shaikh, Tamkeen's VP for Enterprise and Human Capital Development and Dr. Anwar Khalifa Al-Sada, BSB's Chairman of BSB. BSB is a subsidiary of Al-Salam-Bahrain Bank. Dr. Ahmed Al-Shaikh said the project comes within the scope of Tamkeen's objectives to develop and support the national economy on the private sector front and make it the real stimulator of economy in the Kingdom. This is an unmatched opportunity to provide financing on concessional terms in full compliance with the Shariah laws and principles. The initiative is inspired by Tamkeen's objectives to facilitate enterprise growth to develop businesses in collaboration with financing bodies of the Kingdom of Bahrain which already have Shariah-certified funding system. Dr. Al-Sada added that providing support and funding to private sector enterprises has the effect of enabling those enterprises to increase their success factor and increase growth opportunities and sustainability.
