Bahrain Development Bank grants SMEs preferential profit rate on financing programs | THE DAILY TRIBUNE
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
The Bahrain Development Bank announced a new initiative to offer preferential profit rates to small and medium-sized enterprises holding the SME Classification Certificate from the Ministry of Industry, Trade and Tourism.
This initiative is part of the cooperation and coordination between the MOICT represented by the SME Development Directorate and the BDB aimed at strengthening support programs for the SME sector and increasing the competitiveness of these companies on the market. Bahraini market.
Obtaining the Classification Certificate also comes with a set of additional benefits, including awarding a 20% share of the value of government procurement and bidding to SMEs, giving SMEs an advantage of 10% in the bidding of service facilities that are held within departments. and in government tenders as well as the possibility of benefiting free of charge from a training program for the capacity building of SMEs in cloud computing.
Dalal Al Qais, CEO of Bahrain Development Bank said, âThe Bank will start applying the preferential rate grants to SMEs, which hold the SME classification certificate, from January 2022, only for new funding requests that meet under the terms and conditions of the Bank. and in accordance with the bank’s funding standards and requirements.
Shaikha Al Fadhel, Director of SME Development at the Ministry of Industry, Trade and Tourism, said: the national economy, facilitating access to finance is considered one of the most important strategic pillars of the Council development of SMEs.
Al Fadhel also urged SME owners to seize this opportunity and benefit from this initiative and the rest of the benefits associated with the classification certificate.