TAMKEEN SUPPLEMENT 9Aug 2017

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Taqdeer Taqdeer is an employment reward program that is designed to reward companies that have exceeded their Bahrainization rate. By launching this initiative, Tamkeen is seeking to support the private sector and strengthen its position as the key driver of economic growth. Business owners will benefit from Taqdeer as it will help them cover a big portion of their expenses which will empower them to face the economic challenges and move forward to the better. The program provides companies with a grant which can be utilized towards the following operating expenses: 1. Municipality Fees Receipts (not including fines and violations) 2. Electricity and Water Bill 3. SIO Fees 4. Medical Insurance for Bahraini Employees 5. Employees training and development plans The grant can be utilized over two periods for expenses incurred over the past twelve months from applying. The contract period is for two years hence the Reward Points are valid for two years. The Reward Points will be calculated for all the branches under the CR based on the Bahrainzation of each. Reward Points are calculated based on a 6-month average. If the average Bahrainziation rate falls below the required LMRA rate, application will be disqualified. Eligibility Criteria Any company with an active commercial registration in Bahrain that exceeds the Bahrainization rate requirement are eligible for the program. Steps to Apply 1. Create an account for your company by registering through our website and activate it by visiting any of our branches. 2. Review your company profile to make sure that all the information is updated. 3. Submit your application (no documents requirement at the time of submission) 4. Tamkeen will monitor your Bahrainization rate for a period of six months. 5. If your company maintains its Bahrainization rate over the six months, the first part of the grant will be approved. 6. Submit all relevant invoices and receipts through the online portal. 7. Payments will be processed and issued to your bank account. 8. Steps 4 through 8 will be repeated for the second part of the grant. 10 Supplement
Application Process 1. The applying enterprise must have an active Commercial Registration or License 2. The applying enterprise must be based in Bahrain 3. The applying enterprise must have no offenses with LMRA and possess records of monthly payments 4. The applying enterprise must exceed the Bahrainization requirements set by the Labour Market Regulatory Authority 5. The applying enterprise will contract duration per applying entity is 2 years Monitoring Process 1. The applying entity’s Bahrainization rate will be monitored over two six months periods. 2. Tamkeen reserves the right to disapprove any Employee Application that does not meet the program’s requirements at any point during the program period. 3. If deemed necessary, the applying entity must submit any supporting documents requested 4. Tamkeen shall provide the final approval after verifying the eligibility of the applicant entity over the six-month period. Payment Process 1. The payments will be processed over two sixmonth periods. 2. The applying entity must submit the payment request through the portal. 3. The applying entity must provide the required proof of payment documents in order to obtain the reimbursement. "Taqdeer being the first initiative of its kind, eligible enterprises will receive a financial grant which can be used in paying expenses related to municipality services fees (violations or similar charges are not included), electricity bills related to the CR, SIO fees, Bahraini employees’ health insurance as well as their training and development plans." Dr. Ebrahim Mohammed Janahi CE, Tamkeen Supplement 11
Page 1 and 2: SPECIAL EDITION TAMKEEN’S UNIQUE
Page 3 and 4: THE TEAM Adel Al Safar Chairman Pub
Page 5 and 6: Dr. Ebrahim Janahi Chief Executive,
Page 7 and 8: Advisory Services As part of its co
Page 9: Tamweel+ “We work together with o
Page 13 and 14: Eligibility Criteria Depending on t
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TAMKEEN SUPPLEMENT 9Aug 2017

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