Manama, Apr. 3 (BNA): Labour and Social Development Minister and Chairman of the Board of Directors of the Family Microfinance House (FMH), Jameel bin Mohammed Ali Humaidan, and FMH’s board members have praised the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, to offer online sellers two regulation options; ‘Khatwa’, offered free of charge to families registered with the Ministry of Labour and Social Development, or virtual commercial registration via ‘Sijili’, in accordance with the Ministry of Industry, Commerce and Tourism’s regulations, which grants access to financial packages, including Tamkeen’s Business Continuity Programme, as well as competitive financial schemes.
Those registered with the Labour Ministry’s “Khatwa” programme for home-based projects are entitled to benefit from the Family Microfinance House’s services that provide finance to entrepreneurs and productive families to empower them economically, and support them in establishing their own productive projects.
The minister was speaking while chairing FMH’s first general assembly and board meeting in 2021, held remotely, with the participation of FMH’s Board of Directors Deputy Chairman, Dr. Mustafa Al-Sayed, FMH’s CEO, Dr. Khalid Ateeq and board members.
Humaidan asserted that FMH will continue providing financial and non-financial services to various projects of entrepreneur’s and micro productive families registered with the Khatwa programme for home-based businesses, in accordance with its foundation goals.
He indicated that FMH is ready to receive the applications of those wishing to start their small or micro-enterprises, in cooperation with the Khatwa Programme, noting that the aim is to enable families, job seekers, widows and others to develop their skills, and improve their living standards, through ensuring a sustainable income.
The meeting reviewed FMH’s annual report and the audited final accounts for the period ending 2020.
The participants all made their remarks regarding ways to develop FMH’s work, and increase its efficiency in midst of the exceptional health circumstances created by the novel coronavirus.
Established in 2009, the Family Microfinance House (previously the Family Bank) is a government-owned Islamic micro-finance bank in Bahrain. It aims to provide microfinance to low-income individual and businesses in the kingdom.