Tamkeen ‘funded by LMRA fee transfers’

 The Labour Fund’s (Tamkeen) resources partly consist of fees collected from the Labour Market Regulatory Authority (LMRA), said Transportation and Telecommunications Minister Kamal Ahmed.

Eighty per cent of those fees are transferred to the Labour Fund’s accounts in accordance with the Labour Market Regulatory Law, he said.

Last year, the LMRA allocated BD102.35 million to Tamkeen compared with BD59.7m in 2020, an increase of more than 58 per cent, he pointed out.

In reply to a question by MP Ebrahim Al Nefaei concerning Tamkeen’s budgets, the minister said the fund did not receive any financial provisions from the government to carry out the support programmes implemented by it during 2019-2021.

He stressed that Tamkeen’s objectives are focused on strengthening the national economy and its contribution to the development of the private sector being an engine of economic growth in the kingdom, by using its allocations to launch a set of programmes aimed at achieving these goals.

He said Tamkeen contributed no more than 25pc of investment to Al Waha Investment Fund to create an investment environment in the kingdom and help enterprises invest in these promising sectors.

He said the fund borrowed BD60m from the Bahrain Development Bank, in two instalments, to implement the business continuity support programme, of which BD6m had been repaid.

He indicated that the fund’s total budget amounted to about BD116.431m last year, while claims and debts reached BD54m.


Source: https://www.gdnonline.com/Details/1035455/Tamkeen-%E2%80%98funded-by-LMRA-fee-transfers%E2%80%99

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