Tamkeen launches scheme for productive families
Manama, June 3, 2014
Bahrain's labour fund Tamkeen has launched a key initiative aimed at enhancing the growth and sustainability of productive families in Bahrain.
The "Mantoojati" initiative was launched in co-operation with Family Bank, a social bank that provides Sharia-compliant micro-finance. The bank will be managing the scheme as well, reported the Gulf Daily News, our sister publication.
Royal Charity Organisation (RCO) secretary-general Dr Mustafa Al Sayed and Tamkeen vice-president private sector support Mohammed Bucheery inaugurated the scheme at a key function held at the Bahrain Mall food court.
"Empowering Bahrainis in the private sector continues to be one of our main objectives," remarked Bucheery.
"Productive families, given the right kind of support, have huge potential to expand and develop. They are a key part of the drive towards spurring more innovation and entrepreneurship in Bahrain," he noted.
"And it was for these reasons that Mantoojati was launched," he added.
Family Bank chief executive and board member Dr Khalid Abdulla Ateeq said: "The bank is playing a vital role in guiding and maintaining programmes that aim to enhance the living conditions of low-income families by providing financial channels for obtaining the required support."
"The Mantoojati initiative is one that seeks to further develop home-based businesses by providing support funding and consultancy services, and is a step towards opening new opportunities for Bahrainis by enabling them to develop their capabilities and expand their product reach," he added.
Under the scheme, nine home-based businesses are being supported through subsidised rental for one year. The beneficiaries have been provided with a kiosk each in the food court area, reported the GDN.
They received financial support to set up kiosks, print materials to market their products and services which enabled them to maximise their exposure to a wider customer base.
The support amount per beneficiary is around BD7,000 ($18,471) which covers the cost of renting and setting up the kiosk, it added.
The Family Bank was established in January 2010 as an initiative by the Social Development Ministry, in partnership with the Royal Charity Organisation, BBK, Ithmaar Bank, Ahli United Bank and Kuwait Finance House-Bahrain under the co-operation framework set by Grameen.-TradeArabia News Service