Manama, Bahrain – Bahrain has officially launched a new fund dedicated to supporting Small and Medium Enterprises (SMEs) following the signing of strategic partnership agreements between the Bahrain Development Bank (BDB), National Bank of Bahrain (NBB), Bank of Bahrain and Kuwait (BBK), and Al Salam Bank.
The announcement was made by Abdulla bin Adel Fakhro, Minister of Industry and Commerce and Chairman of the SME Development Council, during the Gateway Gulf 2025 Forum, in the presence of senior officials and representatives from government entities and the banking sector.
BDB will manage the SME Fund, offering Sharia’a-compliant financing exceeding $185 million, with Tamkeen covering up to 50% of the profit rate and repayment terms of up to five years. Through simplified application procedures and accessible financing, the Fund aims to bridge persistent funding gaps for Bahraini entrepreneurs.
Fakhro highlighted that the launch of the SME Fund marks a key milestone in strengthening the private sector and empowering SMEs, under the leadership of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister. He emphasized that the initiative is part of strategic efforts by the SME Development Council to foster a sustainable, innovation-driven economy and enhance the role of entrepreneurs in national development.
Dalal Al Qais, Group CEO of BDB, said: “The launch of the SME Fund underscores our long-standing commitment to supporting Bahraini entrepreneurs and accelerating the growth of this vital sector. Beyond providing capital, our focus is on empowering businesses to expand, innovate, and contribute meaningfully to Bahrain’s sustainable economic development. At BDB, we are proud to play an active role in building a more equal and inclusive national economy.”
Maha Abdulhamid Mofeez, CEO of Tamkeen, affirmed that Tamkeen’s support builds on its ongoing efforts to help SMEs secure the financing they need in collaboration with banking partners, enabling businesses to achieve growth, increase productivity, and expand employment opportunities for Bahraini talent.
Yaser Alsharifi, Group CEO of BBK, noted that the Fund aligns with BBK’s strategy to strengthen the local business ecosystem, empower entrepreneurs, and foster innovation while advancing economic development in line with Bahrain’s Vision 2030.
Usman Ahmed, Group CEO of NBB, added: “This fund marks a turning point for Bahrain’s entrepreneurial ecosystem. By combining the scale and experience of leading financial institutions with the support of national enablers, we are creating a strong foundation for SME growth. NBB remains committed to providing tailored financial solutions to help Bahraini businesses flourish in a dynamic market.”
Rafik Nayed, Group CEO of Al Salam Bank, stated: “Al Salam Bank is pleased to partner in this national initiative aimed at developing the SME sector. Our participation reflects our ongoing dedication to nurturing entrepreneurship, supporting sustainable business growth, and contributing to the prosperity of the national economy.”
Applications for financing open on Monday, November 10, at BDB’s headquarters in the Diplomatic Area, where a dedicated team will assist applicants. For more information, applicants can contact 17511000 for guidance and personalized support.
