Bahrain’s economic stimulus package – The key points:
The payment of all insured Bahraini private sector employees for three months starting April 2020 from the Unemployment Fund, following constitutional procedures and in line with the Social Insurance Law. Please contact the Social Insurance Organization for further information.
The automatic payment of individuals’ and businesses’ Electricity and Water Authority utility bills for three months from April 2020 (up to the costs incurred during the same period in 2019), whilst also restructuring government administrative costs to offset additional costs incurred by the government.
Exempting all individuals and businesses from municipal fees for three months from April 2020. More information can be obtained from the Ministry of Works, Municipalities Affairs and Urban Planning.
Exempting all businesses from government-owned industrial land rental fees for three months from April 2020. Kindly contact the Ministry of Industry, Commerce and Tourism for more information.
Exempting all tourism-related industry from tourism levies for three months from April 2020.
Terminating monthly work fees and fees for issuing and renewing work permits for three months from April 2020. For more information, kindly contact the Labour Market Regulatory Authority (LMRA).
Doubling the Liquidity Support Fund to US$530m.
Increasing the Central Bank of Bahrain’s loan facilities to US$9.8bn to allow debt instalments to be deferred and extra credit to be extended. More information on the application process can be found here.
The redirection of all Tamkeen programmes (semi-autonomous government agency that provides loans and assistance to businesses) to support adversely affected companies, as well as the restructuring of all debts issued by Tamkeen.