Tamkeen yesterday released its financial results for year 2014 reporting revenue of BD75.6 million from the Labour Market Regulatory Authority fees, as its total expenditure for the period reached BD 79.1m, which includes operational expenses.

Approving Tamkeen’s 2014 audited financial statements, the board of directors during its second regular meeting also gave nod to Tamkeen’s estimated budget of BD65m for the year 2015, in addition to an estimated BD 17.5m for unemployment insurance.Of the total expenditures in 2014, BD 69.5m went to Tamkeen’s various support programmes, including BD16.5m for the unemployment insurance.

Tamkeen pays on behalf of private sector businesses to the Social Insurance Organisation, as mandated by law.The board also reviewed reports on Tamkeen flagship support programmes and expressed satisfaction with the progress the programmes have made under the new 2015 – 2017 strategy.

Commenting on the report, Tamkeen Chairman and Acting Chief Executive, H.E. Shaikh Mohammed bin Essa Al Khalifa said “Our strategy, which revolves around enhancing quality, serving customers, and achieving results, is already paying dividends as we push forward in 2015 and beyond.”“With our revamped customer-oriented processes and programmes, we have taken our services to new standards that will underpin the sustainable future growth of the private sector and national economy as a whole,” he added.

The Tamkeen Board of Directors consists of 8 members representing the organisations which spearhead the development of the private sector, with 3 members from the public sector and 5 from the private sector as follows:  Government (Sh. Mohammed bin Essa Al Khalifa and Abdulellah Al-Qassimi), Economic Development Board (Dr. Zakaria Hejres), Bahrain Chamber of Commerce and Industry (Khalid Al-Amin, Mr. Mohammed Adel Fakhro, and Kadhim Al Saeed), General Federation of Bahrain Trade Unions (Mohammed Abdulrahman), and the Bahrain Association of Banks (Hassan Jarrar).