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Tourist-focused establishments can choose to postpone the payment of their first-quarter fees to the Bahrain Tourism and Exhibitions Authority (BTEA).
The optional measure, announced yesterday by the BTEA, applies to hotels, hotel apartments, furnished apartments and tourist restaurants.
“This initiative aims to support business continuity and enhance the resilience of the tourism sector in partnership with the private sector, thereby contributing to strengthening the competitiveness of Bahrain as a tourist destination,” the BTEA said, in a statement.
“The authority affirmed its continued commitment to monitoring the sector’s needs and providing supportive initiatives that contribute to its development, thereby driving tourism activity towards its set objectives.”
Details regarding the measures will be announced through the BTEA’s official channels.
Earlier this month, in line with the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, the Central Bank of Bahrain (CBB) launched a loan deferral and liquidity support programme.
The CBB issued directives to retail banks and financing companies regarding the deferral of loan instalments and credit card payments, as part of the programme, which includes a set of measures to support Bahrain’s economy and financial sector.
The CBB underlined the importance of financial entities clarifying the implementation procedures to customers, in order to ensure ease of access to the programme and its smooth application, contributing to improved responsiveness, supporting financial stability, and enhancing the financial resilience of beneficiaries.
The loan deferral and liquidity support programme enables retail banks and financing companies to offer customers the option to defer loan instalments and credit card payments, including instalments and interest, for three months, for both individuals and companies.
Last week, the Cabinet noted that HRH the Crown Prince and Prime Minister has directed ministers, across their respective mandates, to begin implementing comprehensive and decisive measures, including the introduction of programmes to resolve any gaps that have been identified in the defence or economic sectors to enhance national preparedness, and strengthen the kingdom’s ability to respond to various challenges.
The directives, issued by His Majesty King Hamad to HRH Prince Salman, set out a clear roadmap for Bahrain’s future.
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