Name of the Organization : Bahrain Development Bank
Type of Facility : ICT Finance Scheme
Country : Bahrain
Website : https://www.bdb-bh.com/
ICT Finance Scheme :
Transform your business with ICT If you are looking for transforming your business by adopting Information and Communication Technology BDB & Tamkeen can help you to achieve this goal.
Related : Bahrain Islamic Bank Social Housing Finance Scheme : www.statusin.org/6001.html
BDB & Tamkeen offers the Information and Communication Technology Financing Scheme, to help Bahraini enterprises to strengthen their ICT infrastructure and harness ICT within their internal value chains. The scheme aims to facilitate the uptake of ICT by the private sector enterprises by making the cost of which more affordable for these enterprises, especially the SMEs.
The Financial Coverage:
WIPRO BAHRAIN W.L.L. will operate the Scheme with Bahrain Development Bank. The finance will range from BD3,000 to BD50,000 that may be repaid on a maximum tenor of 5 years. The finance will be offered at zero profit rate, where Tamkeen will pay 100% of the annual profit directly to BDB on behalf of the beneficiary.
The applicants are also entitled to Tamkeen’s subsidy in the form of a discount on the principal of the financed amount as follows:
Finance tenure Subsidy offered by Tamkeen (on finance principal):
** One Year (12 Months) 25 %
** Two Years (24 Months) 20%
** Three Years (36 Months) 15%
** Four Years (48 Months) 10%
** Five Years (60 Months) 5%
Eligibility Criteria for Applying to the Scheme:
** A Bahrain based company (active CR or license)
** Meets LMRA Bahrainisation Quota.
** Audited financial statements or in house statements (subject to the banks’ requirements)
Documents Required:
** Copy of the enterprise CR or/and license
** Copy of the relevant constitutive documents of the company
** Copy of 2 valid IDs of Enterprise owner (Like Smart card, Passport etc.)
** Copy of the most recent Bahrainisation certificate from the LMRA
** Last six months electricity bills (paid)
** ICT service provider’s quotation with detailed breakup of expenditure
** The last financial statement prepared internally for any Finance Amount up to BHD 30,000
** The last 2 years audited financial statements for a company applying for a finance greater than BD 30,000
** One Year Bank Statements
** Any additional requirements as identified by Tamkeen/Bank
Where to apply:
WIPRO BAHRAIN W.L.L.
Information and Communication Technology Agency
Orchid Business Center, 5th Floor, Road 2835, Block 428
Al Seef, P.O. Box 26261, Kingdom of Bahrain
Tel: 1756-3200, Fax : 1717-1686, Hotline: 80014141
Email: icta [AT] tamkeenpartners.net
About Us :
BDB commenced its operations in 1992 as a specialist Bank, BDB activities are focused on financing and development of small and medium businesses in addition to encouraging & supporting the entrepreneurship activities in the Kingdom of Bahrain.
Working in-line with Bahrain Economic Vision 2030, BDB adopts a dynamic and effective strategy for stimulating entrepreneurial activity in implementing its plans for financing & advising small and medium businesses.