Kuwait Finance House–Bahrain (KFH-B) announced the launch of its new financing product for small and medium enterprises (SMEs) in partnership with Tamkeen with financing upto BD500000.
“This product offers unique Islamic financing solutions with 50% subsidy in order to support the growth of these companies in Bahrain,” KFH-B in a statement said.
“We are pleased to launch this new financing product especially tailored for SMEs and we have signed an agreement with Tamkeen to support this product. KFH-Bahrain is committed to supporting the growth of the Bahrain economy and the business sector through providing suitable financing solutions,” Sattam Algosaibi, Executive Manager and Head of Corporate Finance, said.
“Businesses can benefit from KFH-B’s SMEs financing product which allow financing of up to BD 500,000 with 50% subsidy on many financing products such as Murabaha financing which covers working capital, trade finance, auto and equipment financing, in addition to the Ijara financing which covers equipment financing and project finance”.
KFH-B, has partnered with Tamkeen to support the small and medium private sector enterprises in Bahrain. Tamkeen is dedicated to supporting Bahraini businesses and has introduced many initiatives with the aim of creating a strong foundation of local SMEs that will further spur future economic growth.
“KFH-B SMEs’ financing product offers very attractive profit rates with 50% profit subsidy by Tamkeen. This initiative is part of the Bank’s aim to deliver to SMEs the same level of service and financing strength that its largest clients receive.”