The scheme supports SMEs with their sustainability goals while boosting cash flow across Bahrain.
The National Bank of Bahrain (NBB) introduced a new lending scheme to support locally owned businesses called ‘Tamweel Al Watani’. The scheme supports SMEs with their sustainability goals while boosting cash flow across the Kingdom.
NBB is essentially offering an easier application process and expedites the turnaround time for the scheme's applicants. Additionally, with repayment plans up to five years, SMEs may be eligible for up to BHD 100,000 in facilities.
“The pandemic had a significant impact on the economy, and many efforts have been made to ensure its long-term survival,” said Arif Janahi, Head of Commercial and SMEs at NBB. “In line with His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister’s vision and directions to support small and medium business owners, our new scheme is introduced to play an integral part in the continuous efforts towards the revival and sustainable development of our local market in the near future.”
Businesses can qualify for the new scheme by meeting the definition of SMEs set by the Ministry of Industry, Commerce & Tourism (MOICT), and holding the MOICT issued SME classification certificate.
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