In line with the Royal Directives to launch a financial and economic stimulus package designed to mitigate the impact of COVID-19, and preserve the Kingdom’s sustainable development, Bahrain develops solutions to support the mostly impacted sectors.
A number of support initiatives within the existing financial and economic package will be extended for an additional 3 months from June 2021 to August 2021, set out as follows:
- The salaries of insured Bahraini private sector employees working in impacted sectors will be paid through the Unemployment Insurance Fund for a period of 3 months, 100% for the first month and 50% for the second and third months.
- Exempting companies impacted by COVID-19 from paying municipal fees for a period of 3 months.
- Exempting tourist establishments and facilities from paying tourism fees for a period of 3 months.
- Extension of the Tamkeen Labor Fund Business Continuity Support program for companies impacted by COVID-19 for a period of 3 months.
- Exempting tenants of government properties including government-owned companies from the payment of rent for a period of 3 months.
- Exempting companies impacted by COVID-19 from paying the commercial registration renewal fees for the year 2021.
- Re-opening of applications to the liquidity fund, with a focus on small and medium-sized companies.
This is in addition to the already announced extension of the option to defer loan repayments for a period of six months.
These measures are to be introduced following the review of a memorandum by the Ministerial Committee for Financial and Economic Affairs and Fiscal Balance.