Whilst the time required to establish an entity used to take an average of 7 - 9 weeks and included numerous visits to various government bodies, this has been significantly reduced to only three days (on occasion, less), with just one visit required in order to authenticate the memorandum of association before the notary public at the Ministry of Justice and subsequently register an entity in the Commercial Registry.
Yousef Al- Ali highlighted the importance to the economy of the SME sector and said that the agreements would regulate businesses and business owners effectively and strengthen the connection between government bodies and the National Fund.
Meanwhile, an urgent proposal to give full time contracts to 139 Bahrainis currently employed in ministries and government bodies under temporary Tamkeen contracts, which are set to expire soon, was also passed.
The government had decided in late March to extend the terms of 234 local government bodies till May 15 this year due to the prevailing political situation in the country following the Presidential Election in January.
The seminars were attended by undersecretaries, executive directors, director-generals, directors of departments and representatives of various federal government bodies, and aims to inform them about the key points and criteria of the system.