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FINANCIAL NEWS
Bahrain-Tamkeen, Al Salam Bank ink USD53mn portfolio
19 May 2017
(MENAFN) Bahrain’s labor fund Tamkeen and Al Salam Bank-Bahrain have inked a portfolio worth USD53mn amid the Sharia-compliant financing program Tamweel.
Currently, Tamweel aims to offer financing solutions to projects in the range of USD2.63mn to USD6.5mn with Tamkeen helping 70 percent of the annual profit.
Accordingly, the bank is pleased to sign the deal with Tamkeen for Tamweel, offering enterprises financing facilities that will support entrepreneurs.
In addition, the objective is to help medium and large institutions, aiding them to emphasize the most important challenges they face amid their various developmental stages.
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MENAFN1905201700450000ID1095490803
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