Committee to turn around struggling business units

Manama : The Bahrain Chamber of Commerce and Industry (BCCI) has designated a special committee to identify and turn around struggling business ventures in coordination with industrial bodies in Bahrain.

The committee is headed by BCCI Bureau member Ahmed bin Hindi. Isa Al Refaei, Ahmed Al Saloom and other businessmen are members. The committee, in coordination with Hasan Al Nus, has already commenced its work by meeting struggling owners of business ventures. They are collecting financial data on business ventures.

In the light of the data collected, the committee proposes to coordinate with the Central Bank of Bahrain on restructuring loans with commercial banks, re-scheduling instalments, lifting travel bans and freezing judicial cases against stalled business owners as well as providing a grace period to improve financial conditions.

Expressing confidence, the Chamber reaffirmed its support to struggling business ventures and hailed the keenness of various authorities to resolve the issues in the private sector.