Bahrain’s Labor Fund Tamkeen has recently released an updated version of one of its most popular services for entrepreneurs. The new edition of the ”Mohasaba” scheme aired with some added features to meet the rising demands of the local startup ecosystem.
The new version of the co-financing accounting services program Mohasaba now allows businesses to choose their accounting and auditing service providers among any local firms. In addition to that, early-stage startups which have been operating for less than two years may apply for a full coverage of their book-keeping costs. More experienced enterprises, which have been on the market for two and four years, may benefit from a 50 percent coverage of their accounting and auditing fees. As for scale-up and mature enterprises, they also can get a 50 percent support for their auditing services. The co-financing support program includes the costs for accounting and auditing for two years.
Dr. Ebrahim M. Janahi the CEO of Tamkeen said: ““The scheme has been redesigned with some added features and benefits to meet the expansion in the market’s demands.”
He also added that the program aims to satisfy the needs of the Bahraini entrepreneurs and ensure the growth of the national economy. Since its inception in 2009, the Mohasaba has been the right hand of the Bahraini entrepreneurs in achieving their financial goals and increasing productivity. In Janahi’s view, the new features of the program would have a positive effect on the business operations. It would also ensure accurate accounting in line with the highest professional national and international auditing standards.
In conclusion, the CEO of Tamkeen once again highlighted the vital role of the private sector in promoting economic growth. He stated that Tamkeen would continue to support and encourage personal initiative via programs such as Mohasaba and many others.
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