Latest news with #MastercardStrive
Daily Tribune
05-05-2025
- Business
- Daily Tribune
Mastercard and Tamkeen Launch Partnership to Support Bahrain's SMEs with Financial and Digital Tools
The Mastercard Center for Inclusive Growth and Bahrain's Labour Fund (Tamkeen) have announced a strategic partnership aimed at empowering Small and Medium Enterprises (SMEs) in Bahrain through financial and digital tools. This collaboration will introduce Mastercard's flagship small business program, Mastercard Strive, to Bahrain, marking a significant milestone for both organizations and the region. The Mastercard Strive initiative is designed to enhance the capabilities of SMEs by providing them with the necessary resources and expertise to improve their financial and digital readiness. As part of the partnership, the Kingdom will become home to the first Mastercard Strive project in the Middle East, with the goal of fostering inclusive economic growth, strengthening Bahrain's private sector, and helping local businesses thrive. The announcement was made during the Global Inclusive Growth Summit (GIGS), where Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, highlighted the importance of SMEs in Bahrain's economy. He emphasized the government's commitment to empowering these businesses and providing them with tools to enhance productivity and growth. 'The Kingdom of Bahrain has always prioritized fostering a supportive environment for SMEs,' said Shaikh Salman. 'This partnership with Mastercard will ensure SMEs in Bahrain are equipped with the digital and financial tools they need to succeed.' He also noted that this collaboration aligns with His Highness Shaikh Isa bin Salman bin Hamad Al Khalifa's strategic initiatives, which aim to enhance the competitiveness of Bahrainis in the private sector. These initiatives include training 50,000 Bahrainis in artificial intelligence by 2030, helping citizens develop the skills necessary for career growth. Maha Abdulhameed Mofeez, CEO of Tamkeen, welcomed the partnership, calling it a crucial step for empowering Bahrain's SMEs. 'We are thrilled to partner with Mastercard to help Bahrainis embrace digital transformation and ensure that their businesses remain competitive,' she said. 'Mastercard Strive will provide specialized guidance to support SMEs in realizing their full potential.' This partnership also aligns with Tamkeen's strategic priorities for 2025, which focus on strengthening Bahrainis' skills for the future, promoting enterprise growth, advancing digitalization, and supporting the sustainable development of Bahrain's economy. According to the Bahrain 2023 Economic Report, SMEs represent 93% of all businesses in the Kingdom, with 79% owned by Bahrainis, 40% by women, and 25% by young entrepreneurs. SMEs contribute 10% of Bahrain's total exports and employ over 44,000 Bahraini nationals. Shamina Singh, President of Mastercard's Center for Inclusive Growth, expressed excitement about the partnership, noting that small businesses are key drivers of global economic growth. 'Through Mastercard Strive, we are excited to help Bahrainis thrive in the private sector by building their skills in financial and digital readiness,' she said.
Fintech News ME
05-05-2025
- Business
- Fintech News ME
Mastercard and Bahrain's Tamkeen to Explore Launch of Strive Programme for SMEs
The Mastercard Center for Inclusive Growth and Bahrain's Labour Fund (Tamkeen) have announced a strategic partnership to explore the introduction of the Mastercard Strive programme in Bahrain. If adopted, it would mark the initiative's first implementation in the Middle East. The proposed collaboration is aimed at strengthening financial and digital capabilities among SMEs in Bahrain. It also seeks to establish a scalable framework for cooperation between Mastercard and Bahraini institutions in supporting enterprise growth. Since its launch in 2020, the Mastercard Strive programme has supported over 12 million small businesses globally by improving access to capital, digital infrastructure, and knowledge networks. Speaking at the 2025 Global Inclusive Growth Summit, Bahrain's Minister of Finance and National Economy, Shaikh Salman bin Khalifa Al Khalifa, said: 'The Kingdom of Bahrain has always prioritised fostering a supportive environment that enables SMEs to succeed and grow as they continue to play a pivotal role in the economy. This partnership with Mastercard will pave the way for SMEs in Bahrain to utilise financial and digital tools to enhance their operations and improve their productivity.' The collaboration supports Tamkeen's 2025 strategic goals, which include enhancing the competitiveness of Bahrainis in the private sector, promoting digital transformation, and reinforcing sustainability across enterprises. Shamina Singh, founder and president of the Mastercard Center for Inclusive Growth, said: 'We have always known that small businesses are the engine of the global economy, and help create opportunity and growth for communities. Through Mastercard Strive, the Center is excited to partner with the Kingdom of Bahrain and Tamkeen to help Bahrainis thrive in the private sector while building their skills in financial and digital readiness.' The initiative is intended to strengthen the ecosystem for SME development in Bahrain, with a focus on long-term economic resilience and inclusive growth.
Biz Bahrain
05-05-2025
- Business
- Biz Bahrain
Mastercard Center for Inclusive Growth and Tamkeen partner to launch the first Mastercard Strive to Bahrain and the Middle East
The Mastercard Center for Inclusive Growth and the Kingdom of Bahrain's Labour Fund (Tamkeen) announced a landmark strategic partnership to explore projects that promote financial and digital readiness for Small and Medium Enterprises (SMEs) in the Kingdom of Bahrain. The partnership will bring the centre's flagship small business program, Mastercard Strive, to Bahrain so SMEs can operate more efficiently through financial and digital tools. A first of its kind, the partnership aims to create a scalable model of collaboration between the Kingdom and the centre to drive inclusive economic growth in the country, empower local small businesses and entrepreneurs, and strengthen the Kingdom's private sector as a key driver of national development. This partnership marks a significant step in the region , as Bahrain will house the first Mastercard Strive Project in the Middle East. Through the partnership, both organisations will enhance the robust network and ecosystem of resources to drive impactful change and support for SMEs while helping foster and create financial and digital resilience and economic opportunity in the region. Commenting on this announcement during his attendance and keynote address at the Global Inclusive Growth Summit (GIGS), His Excellency Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, emphasised the importance of empowering SMEs with the tools and opportunities required to grow and thrive due to their active role in the national economy. He stated: 'The Kingdom of Bahrain has always prioritised fostering a supportive environment that enables SMEs to succeed and grow as they continue to play a pivotal role in the economy. This partnership with Mastercard will pave the way for SMEs in Bahrain to utilise financial and digital tools to enhance their operations and improve their productivity' His Excellency added that this partnership aligns with the directives of His Highness Shaikh Isa bin Salman bin Hamad Al Khalifa, Chairman of the Board of Trustees of the Isa bin Salman Educational Charitable Trust and Chairman of the Board of Directors of the Labour Fund (Tamkeen), to approve a number of initiatives and updates to support programmes. These initiatives include the launch of a first-of-its-kind package to train 50,000 Bahrainis in artificial intelligence skills by 2030, contributing to the strategic priorities for empowerment this year, which aim to enhance the position and competitiveness of Bahraini citizens in the private sector, providing them with the appropriate skills for career development. Additionally, His Excellency noted that this partnership reflects the commitment to it prioritizing growth, digitisation, and sustainability of institutions, while supporting the ecosystem to enhance the effectiveness of the labour market and the private sector, thereby contributing to positive economic impact and sustainable development. Her Excellency Ms. Maha Abdulhameed Mofeez, Chief Executive of the Labour Fund (Tamkeen), welcomed the partnership as a pivotal step towards empowering SMEs in Bahrain to leverage financial and digital tools to accelerate their growth and competitiveness. She stated: 'We are happy to partner with Mastercard to fulfill one of our key objectives to support SMEs in Bahrain. The solutions offered by Mastercard Strive will provide SMEs in Bahrain with the opportunity to embrace digital transformation and future-proof their businesses with specialised guidance and expertise aimed at helping them reach their full potential.' This initiative comes in line with Tamkeen's strategic priorities for 2025, which focus on strengthening the competitiveness of Bahrainis in the private sector, equipping the national workforce with future-ready skills, advancing enterprise growth and digitalization, and fostering a sustainable ecosystem that support both the labor market and private sector expansion. According to the Bahrain 2023 Economic Report, SMEs constituted 93% of all enterprises in the Kingdom of Bahrain. Of these, 79% are owned by Bahrainis, 40% are owned by women, and 25% are owned by young entrepreneurs. In 2023, SMEs contributed 10% of Bahrain's total exports and provided employment for over 44,000 Bahraini nationals. Since 2020, Mastercard Strive has supported small businesses worldwide to thrive in the digital economy. In markets and regions around the world, the program empowers small businesses to acquire capital, go digital and grow their networks and expertise — all to build stronger communities and create more economic opportunities. As of December 2023, Mastercard Strive reached more than 12 million small businesses with support and tools to increase their financial security and economic mobility. 'We have always known that small businesses are the engine of the global economy, and help create opportunity and growth for communities,' said Shamina Singh, the founder and president of Mastercard's Center for Inclusive Growth. 'Through Mastercard Strive, the Center is excited to partner with the Kingdom of Bahrain and Tamkeen to help Bahrainis thrive in the private sector while building their skills in financial and digital readiness.'
Zawya
05-05-2025
- Business
- Zawya
Mastercard, Tamkeen to launch new SME initiative in Bahrain
The Mastercard Center for Inclusive Growth and Bahrain's Labour Fund (Tamkeen) has announced a landmark strategic partnership to explore projects that promote financial and digital readiness for Small and Medium Enterprises (SMEs) in Bahrain. The partnership will bring the centre's flagship small business programme, Mastercard Strive, to Bahrain so SMEs can operate more efficiently through financial and digital tools, said a statement. A first of its kind, the partnership aims to create a scalable model of collaboration between the kingdom and the centre to drive inclusive economic growth in the country, empower local small businesses and entrepreneurs, and strengthen the Kingdom's private sector as a key driver of national development. This partnership marks a significant step in the region, as Bahrain will house the first Mastercard Strive Project in the Middle East. Through the partnership, both organisations will enhance the robust network and ecosystem of resources to drive impactful change and support for SMEs while helping foster and create financial and digital resilience and economic opportunity in the region. Commenting on this announcement during his attendance and keynote address at the Global Inclusive Growth Summit (GIGS), Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, emphasised the importance of empowering SMEs with the tools and opportunities required to grow and thrive due to their active role in the national economy. He stated: 'The Kingdom of Bahrain has always prioritised fostering a supportive environment that enables SMEs to succeed and grow as they continue to play a pivotal role in the economy. This partnership with Mastercard will pave the way for SMEs in Bahrain to utilise financial and digital tools to enhance their operations and improve their productivity.' He added that this partnership aligns with the directives of Shaikh Isa bin Salman bin Hamad Al Khalifa, Chairman of the Board of Trustees of the Isa bin Salman Educational Charitable Trust and Chairman of the Board of Directors of the Labour Fund (Tamkeen), to approve a number of initiatives and updates to support programmes. These initiatives include the launch of a first-of-its-kind package to train 50,000 Bahrainis in artificial intelligence skills by 2030, contributing to the strategic priorities for empowerment this year, which aim to enhance the position and competitiveness of Bahraini citizens in the private sector, providing them with the appropriate skills for career development. Additionally, he noted that this partnership reflects the commitment to it prioritising growth, digitisation, and sustainability of institutions, while supporting the ecosystem to enhance the effectiveness of the labour market and the private sector, thereby contributing to positive economic impact and sustainable development. Maha Abdulhameed Mofeez, Chief Executive of the Labour Fund (Tamkeen), welcomed the partnership as a pivotal step towards empowering SMEs in Bahrain to leverage financial and digital tools to accelerate their growth and competitiveness. She stated: 'We are happy to partner with Mastercard to fulfill one of our key objectives to support SMEs in Bahrain. The solutions offered by Mastercard Strive will provide SMEs in Bahrain with the opportunity to embrace digital transformation and future-proof their businesses with specialised guidance and expertise aimed at helping them reach their full potential.' This initiative comes in line with Tamkeen's strategic priorities for 2025, which focus on strengthening the competitiveness of Bahrainis in the private sector, equipping the national workforce with future-ready skills, advancing enterprise growth and digitalisation, and fostering a sustainable ecosystem that support both the labor market and private sector expansion. – TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
04-05-2025
- Business
- Trade Arabia
Mastercard, Tamkeen to launch new SME initiative in Bahrain
The Mastercard Center for Inclusive Growth and Bahrain's Labour Fund (Tamkeen) has announced a landmark strategic partnership to explore projects that promote financial and digital readiness for Small and Medium Enterprises (SMEs) in Bahrain. The partnership will bring the centre's flagship small business programme, Mastercard Strive, to Bahrain so SMEs can operate more efficiently through financial and digital tools, said a statement. A first of its kind, the partnership aims to create a scalable model of collaboration between the kingdom and the centre to drive inclusive economic growth in the country, empower local small businesses and entrepreneurs, and strengthen the Kingdom's private sector as a key driver of national development. This partnership marks a significant step in the region, as Bahrain will house the first Mastercard Strive Project in the Middle East. Through the partnership, both organisations will enhance the robust network and ecosystem of resources to drive impactful change and support for SMEs while helping foster and create financial and digital resilience and economic opportunity in the region. Commenting on this announcement during his attendance and keynote address at the Global Inclusive Growth Summit (GIGS), Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, emphasised the importance of empowering SMEs with the tools and opportunities required to grow and thrive due to their active role in the national economy. He stated: 'The Kingdom of Bahrain has always prioritised fostering a supportive environment that enables SMEs to succeed and grow as they continue to play a pivotal role in the economy. This partnership with Mastercard will pave the way for SMEs in Bahrain to utilise financial and digital tools to enhance their operations and improve their productivity.' He added that this partnership aligns with the directives of Shaikh Isa bin Salman bin Hamad Al Khalifa, Chairman of the Board of Trustees of the Isa bin Salman Educational Charitable Trust and Chairman of the Board of Directors of the Labour Fund (Tamkeen), to approve a number of initiatives and updates to support programmes. These initiatives include the launch of a first-of-its-kind package to train 50,000 Bahrainis in artificial intelligence skills by 2030, contributing to the strategic priorities for empowerment this year, which aim to enhance the position and competitiveness of Bahraini citizens in the private sector, providing them with the appropriate skills for career development. Additionally, he noted that this partnership reflects the commitment to it prioritising growth, digitisation, and sustainability of institutions, while supporting the ecosystem to enhance the effectiveness of the labour market and the private sector, thereby contributing to positive economic impact and sustainable development. Maha Abdulhameed Mofeez, Chief Executive of the Labour Fund (Tamkeen), welcomed the partnership as a pivotal step towards empowering SMEs in Bahrain to leverage financial and digital tools to accelerate their growth and competitiveness. She stated: 'We are happy to partner with Mastercard to fulfill one of our key objectives to support SMEs in Bahrain. The solutions offered by Mastercard Strive will provide SMEs in Bahrain with the opportunity to embrace digital transformation and future-proof their businesses with specialised guidance and expertise aimed at helping them reach their full potential.'
