His Majesty King Hamad has ratified and issued Law No 14 of 2024 amending Article 4 of Law No 57 of 2006 establishing the Labour Fund, following the approval of the Shura Council and Parliament.
This contributes to increasing the employment of nationals by limiting the support of the Labour Fund to companies owned by Bahrainis, in addition to providing support to Bahrainis to raise their efficiency and enhance their productivity and competitiveness in the labour market.The law states:
Article I
The text of paragraph (a) of Article (4) of Law No (57) of 2006 on the establishment of the Labour Fund shall be replaced with the following text:
(a) The Fund shall exercise all the functions and powers necessary to achieve its objectives, in particular the following:
1- Providing and supporting programmes to train and qualify Bahraini workers to raise their efficiency, productive ability and ability to compete in the labour market.
2- Raising the comparative advantage of Bahraini workers over other foreign workers.
3- Providing and supporting social programmes and projects related to the development and development of the labour market.
4- Contribute to the removal of obstacles that limit women’s participation in the workforce.
5- Supporting and providing programmes that will enhance the ability of the private sector to increase economic activity in the kingdom.
6- Granting soft loans to citizens in accordance with the provisions of Islamic Sharia for the establishment and financing of small and medium private enterprises.
7- Supporting and financing projects in which Bahraini persons own a percentage of shares or shares that would increase the employment of Bahraini workers, especially projects with added economic value.
8- Supporting and providing advisory and financial services to companies and institutions in which Bahraini persons own a percentage of shares or shares to raise the efficiency and productivity of workers.
9- Supporting and providing programmes that qualify employers of companies and institutions in which Bahraini persons own a percentage of shares or shares to keep pace with the plans and programmes for the development of the labour market.
10. Support the conduct of research and studies in the field of the Fund’s work and encourage the use of its results.
11. Owning movable and real estate property, managing and investing any of the Fund’s resources, concluding contracts, and conducting all actions and actions that would achieve the objectives for which the Fund was established without prejudice to the provisions of Islamic Sharia.
The provisions of items (7), (8) and (9) may be submitted to projects, companies and establishments that are not covered, in accordance with the controls determined by a resolution of the board of directors, and
such controls must take into account the percentage of employment of Bahraini workers, the volume of investment and the economic impact of such projects, companies and institutions.
Article II
The Prime Minister and the ministers, each in his respective capacity, shall implement the provisions of this law, which shall come into force on the day following the date of its publication in the Official Gazette.
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