NBB backs SMEs with upgraded Tamweel Al Watani scheme

NBB backs SMEs with upgraded Tamweel Al Watani scheme

Bahrain - The National Bank of Bahrain (NBB) has launched an updated version of its Tamweel Al Watani lending scheme to enable a larger stake of Small and Medium Enterprise (SME) customers to benefit from the programme.

While providing faster processing times, the improved Tamweel 2.0 scheme will include further relaxed terms and tailored lower cost for female-owned businesses.

As part of its commitment towards empowering the SME sector at large, NBB initially launched Tamweel Al Watani in May 2021, with the aim of providing support to SMEs by helping them achieve their sustainability goals, while simultaneously improving cash flow positions across the kingdom. The elevated Tamweel 2.0 scheme is a direct result of client feedback, market development, and NBB’s assessment of current economic needs in line with the kingdom’s economic recovery plan.

Turnaround time

Through the revised initiative, local SMEs will be able to make use of shorter turnaround time. With a more facilitated application process, the bank has also included easier processing alongside less prerequisites. Small business owners will gain access to financing options, which will allow them to grow their businesses without the prerequisite tangible security requirements.

Commenting on the upgraded scheme, Arif Janahi, Head of Commercial and SMEs at NBB, said: