HRH Crown Prince’s directives to set up liquidity fund praised

Chairman of Bahrain Chamber of Commerce and Industry (BCCI ) Sameer Abdullah Nass has voiced appreciation of the commercial and industrial community in Bahrain of the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier, to the Ministry of Finance and National Economy to co-ordinate with the Ministry of Industry, Commerce and Tourism, BCCI, the Labour Fund (Tamkeen) and the national banks to set up a liquidity fund worth BD100 million to restructure the financial obligations of companies in the private sector.

The move came during a presentation by HRH the Crown Prince in the opening of the Government Forum 2019, which convened yesterday under the patronage of His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa. The BCCI Board Chairman affirmed that the directives reflect continuous support of HRH the Crown Prince and the government, led by HRH the Premier, to the commercial sector to enable it to assume its responsibilities in invigorating the national economy.

He also added that the step aims to further strengthen joint action between the government and BCCI and boost the constructive role of the private sector in creating a true and active partnership between both sides. The fund, he noted, will undoubtedly have a positive role in tackling liquidity problems of the private sector establishments to help them persist and grow. 

The BCCI Board Chairman pledged the chamber’s full cooperation to carry out the directives of HRH the Crown Prince, stressing that BCCI will continue its pioneering role to promote the economic and trade movement in Bahrain. He affirmed keenness of BCCI Board of Directors on maintaining the chamber’s role as an active partner in the reform and economic development process. He praised holding the Government Forum 2019, in line with the directives of His Majesty King Hamad bin Isa Al Khalifa, to continue the efforts towards achieving the Kingdom’s development goals and citizens’ aspirations.