100 November 2016 www.bahrainthismonth.com financing&insurance Bahrain’s economy is on the path to prosperity thanks to the foresight of this financial institution. Bahrain Development Bank (BDB) extends financial assistance to indigenous industries of the country, thereby acting as an indispensable catalyst in Bahrain’s fiscal progress and diversification. What sets it apart from conventional banks is that it has the capacity to undertake exposure in high-risk financial segments. The sectors to which BDB lends support are mainly those considered necessary to add value to the economy of the Kingdom, namely, small and medium enterprises, self-employed professionals, entrepreneurial start-ups, agriculture, fisheries, taxi finance, education and specific employment-oriented enterprises promoted by Bahraini youth and women. BDB provides monetary aid to local youth in order for them to achieve their professional goals, either by way of conventional or Islamic finance education loans. This is offered at a profit rate of four per cent, to be used to cover the tuition fees. The minimum facility amount is BD3,000 and the maximum is BD20,000. Shari’a-compliant financing at an interest rate of 5.5 per cent or conventional loans with a 9.5-per-cent reducing interest rate are available for a minimum of BD3,000 to be used to finance a specific asset or towards working capital with a comfortable repayment and grace period. BDB’s Tamkeen Finance can also be of great help to businesses, where an enterprise can benefit from a minimum amount of BD5,000 at a minimum rate of 4.27 per cent, 50 per cent of the interest is subsidised by Tamkeen. Sectors such as agriculture and fisheries can approach the bank for interest-free loans. Letters of Credit, Letters of Guarantee, overdraft facilities and the ICT Finance Scheme are also available. Call 17 511-111 or visit www.bdb-bh.com. BAHRAIN DEVELOPMENT BANK BDB is here to support your business ambition and continued success · Financing new business ideas · Comfortable Repayment · Comfortable Grace Period BDB group brings you several services that not only include Financing but also Advisory, Training and Incubation to help set up and expand your business. Call us on 17511111 or visit any of our branches. www.bdb-bh.com Bahrain Development Bank BDBbahrain BahrainDevelopmentBank Terms and Conditions Apply Fuelling Progress
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