Latest news with #Sijilat
Biz Bahrain
4 days ago
- Business
- Biz Bahrain
Industry Ministry launches commercial bank account opening service
As part of its ongoing efforts to develop the business environment and enhance compliance with regulatory decisions, the Ministry of Industry and Commerce has announced the launch of a new service in collaboration with several local banks. This service enables business owners to easily open a commercial bank account, contributing to the stability of commercial activities. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, emphasised that this step reflects the Ministry's continuous commitment to establishing a flexible, transparent, and investment-friendly business environment. It also highlights the Ministry's dedication to providing efficient services that facilitate doing business and support business owners in complying with relevant regulations. He noted that the Ministry will continue to develop more initiatives to support the national economy. The Minister added that this new service is part of an integrated set of initiatives aimed at simplifying procedures, achieving the highest levels of legislative compliance, and enhancing the efficiency of government services provided to the commercial sector, thereby boosting Bahrain's competitiveness regionally and internationally. This initiative comes in line with the implementation of Ministerial Decision (43) of 2024 regarding payment regulations for commercial transactions of business establishments, which mandates all commercial establishments to open a unified commercial bank account for their financial transactions and provide approved electronic payment methods that support transparency and digitisation in commercial activities. To simplify the process, a direct service point has been established on the second floor of the Bahrain Financial Harbour, near the Bahrain Investors Centre. Additionally, the service can be accessed online via the commercial registration system 'Sijilat' at The Ministry urges all commercial establishments to open a commercial bank account before the deadline on June 13, 2025, to ensure full compliance with the resolution and benefit from the provided facilities. For more information, please contact: [email protected] or call 80008001. BNA(R)
Daily Tribune
19-04-2025
- Business
- Daily Tribune
Citizens edge out expats in business
Bahrain investors now enjoy a slight edge over foreign stakeholders when it comes to active commercial registrations in the Kingdom, revealed Industry and Commerce Minister Abdulla bin Adel Fakhro. The minister said citizens own 52 per cent of the kingdom's active commercial registrations, beating foreign stakeholders who account for the remaining 48pc. There are currently 88,200 active commercial registrations across the country, covering all types of businesses listed under the national 'Sijilat' system—including sole traders, partnerships, joint-stock companies, and limited liability firms. Describing the figures, accurate as of mid-February, as 'steady and regularly reviewed,' the minister made the disclosure in a written response to MP Hamad Al Doy. Foreign investment in Bahrain remains strong, with non-Bahraini nationals showing particular interest in sectors such as management consultancy, interior design, advertising, marketing, and real estate services involving owned or leased property, Mr Fakhro added. Addressing concerns over non-Bahraini individuals operating under local cover, the minister highlighted an ongoing crackdown launched in 2021 with the Bahrain Chamber of Commerce and Industry. The initiative helped businesses correct their records, with 197 violations referred to the Public Prosecution, leading to shop closures and licence cancellations. 'Several cases are still pending before the courts, and inspections are continuing,' he confirmed.
Gulf Insider
27-03-2025
- Business
- Gulf Insider
New Expat Residency Scheme To Boost Economy
Investors and skilled expats will be able to apply for permanent residency, designed to attract longer-term capital and talent. The new measure is part of Bahrain's economic recovery plan, set out in the 2025-2026 state budget alongside a raft of other policies aimed at boosting growth and curbing debt. Every year, the government aims to place 25,000 Bahrainis into work and make room in the labour market for 8,000 new graduates. Employer needs The Labour Fund, Tamkeen, is leading this effort, offering training tailored to employer needs. Labour fees will also be adjusted to narrow the cost gap between hiring Bahrainis and expats – an imbalance long criticised by the public. Efforts to improve the business climate are also moving ahead. 'Sijilat', Bahrain's online registry, is due for an upgrade, while planning permits are going digital to reduce delays. Legal changes are in progress to ease restrictions on growing firms. Private investment A new public land platform is already live, opening up idle plots to private investment. At the border, customs procedures are being simplified. Public services, meanwhile, will soon be bound by clearer, stricter deadlines under new service-level agreements. Also read: Five Inmates' Jail Time Extended
Daily Tribune
26-03-2025
- Business
- Daily Tribune
New expat residency scheme to boost economy
Investors and skilled expats will be able to apply for permanent residency, designed to attract longer-term capital and talent. The new measure is part of Bahrain's economic recovery plan, set out in the 2025–2026 state budget alongside a raft of other policies aimed at boosting growth and curbing debt. Every year, the government aims to place 25,000 Bahrainis into work and make room in the labour market for 8,000 new graduates. Employer needs The Labour Fund, Tamkeen, is leading this effort, offering training tailored to employer needs. Labour fees will also be adjusted to narrow the cost gap between hiring Bahrainis and expats — an imbalance long criticised by the public. Efforts to improve the business climate are also moving ahead. 'Sijilat', Bahrain's online registry, is due for an upgrade, while planning permits are going digital to reduce delays. Legal changes are in progress to ease restrictions on growing firms. A new public land platform is already live, opening up idle plots to private investment. At the border, customs procedures are being simplified. Public services, meanwhile, will soon be bound by clearer, stricter deadlines under new service-level agreements.
Zawya
05-03-2025
- Business
- Zawya
Bahrain: Proposal to conduct labour market study every four years approved
Bahrain - A labour market study could be conducted every four years to assess the demand for various professions in both the public and private sectors. The proposal, approved unanimously during the weekly Parliament session yesterday, was presented by five MPs led by Lulwa Al Romaihi. It aims to address unemployment and guide graduates towards in-demand specialisations. The MPs believe that a regular workforce study would enable policymakers to identify trends, anticipate labour demands, and ensure that educational institutions align their programmes with the actual needs of the market. A proposal to ease the financial burden on the families of deceased Bahraini citizens by waiving outstanding electricity, water and municipality fees upon the subscriber's death has also been unanimously approved. The proposal was submitted by five MPs led by services committee vice-chairman MP Mohammed Al Olaiwi. They said the current system, which requires heirs to settle unpaid utility and municipal bills from the deceased's estate, places an additional financial strain on families already dealing with the loss. They also claimed that the waiver of dues would prevent disputes among heirs settling the deceased's liabilities. Eight other proposals were unanimously approved and referred to the Cabinet for review: l Revamping Al Mazara'a Avenue from Jasra to Demistan. l Altering construction rules and regulations for villas in the Sanad Saraya Area to allow homeowners to expand their small buildings which doesn't exceed 210sqm. l Building two jetties for fishermen – one, between the Isa Bin Salman and Hamad Bin Isa Bridges and the second, between the fourth bridge connecting Manama with Muharraq. l Rescheduling housing loans on pensioners to ensure instalments don't exceed 10 per cent of their monthly income, instead of the current 25pc. l Establishing an elderly centre for Southern Governorate residents in Wadi Al Sail. l Easing eligibility conditions for anti-inflation allowance to include Bahrainis with commercial registrations (CRs), who don't have a fixed or proper source of income. l Adopting a more transparent mechanism for Sijilat (CR database) to allow people to access information about businesses. l Keeping services' ministries open over two shifts – morning and evening. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
