Partnership will reinforce Bahraini Small and Medium Enterprises (SMEs) on monetary and virtual readiness
The Mastercard Heart for Inclusive Enlargement and the Bahrain’s Labour Fund (Tamkeen) as of late introduced a strategic partnership to discover the release of the primary Mastercard Attempt program within the Center East, aimed toward advancing monetary and virtual readiness for Small and Medium Enterprises (SMEs) in Bahrain.
This landmark collaboration seeks to empower Bahraini SMEs and marketers with the equipment and assets they want to scale up, digitize, and force inclusive financial enlargement. The initiative will discover a scalable fashion of collaboration between Bahrain and the Mastercard Heart for Inclusive Enlargement, reinforcing Bahrain’s place as a regional chief in SME building.
The Mastercard Attempt program—already lively in numerous international locations—has helped over 12 million small companies international since 2020 via facilitating get admission to to capital, virtual equipment, and information networks. If followed in Bahrain, this system would mark its first implementation within the Center East, additional increasing its international footprint and regional affect.
His Excellency Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and Nationwide Economic system of the Kingdom of Bahrain, underscored the significance of this initiative right through his keynote cope with on the 2025 International Inclusive Enlargement Summit (GIGS), pointing out: “The Kingdom of Bahrain has always prioritized fostering a supportive environment that enables SMEs to succeed and grow as they continue to play a pivotal role in the economy. This partnership with Mastercard will pave the way for SMEs in Bahrain to utilize financial and digital tools to enhance their operations and improve their productivity”
This collaboration aligns with Tamkeen’s 2025 strategic priorities, which focal point on strengthening the competitiveness of Bahrainis within the non-public sector, accelerating endeavor digitization and sustainability, and adorning the labour marketplace ecosystem.
In line with the Bahrain 2023 Financial Document, SMEs account for 93% of all enterprises within the Kingdom. Of those, 79% are Bahraini-owned, 40% are owned via ladies, and 25% are led via younger other folks. SMEs additionally contributed to ten% of Bahrain’s general exports and hired greater than 44,000 Bahrainis in 2023.
By way of combining Mastercard’s international experience in inclusive enlargement with Tamkeen’s native management in financial building, this partnership goals to create a strong and resilient ecosystem that allows Bahraini SMEs to thrive within the virtual economic system and give a contribution to long-term nationwide prosperity.
“We have always known that small businesses are the engine of the global economy, and help create opportunity and growth for communities,” stated Shamina Singh, the founder and president of Mastercard’s Heart for Inclusive Enlargement. “Through Mastercard Strive, the Center is excited to partner with the Kingdom of Bahrain and Tamkeen to help Bahrainis thrive in the private sector while building their skills in financial and digital readiness.”
