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Bahrain Fintech Bay (BFB), a subsidiary of Benefit, and global technology firm MonetaGo have formed a strategic partnership to develop and deploy the kingdom’s first Digital Public Infrastructure (DPI) for trade finance, marking a regional first for the GCC.
The national initiative aims to create a secure, transparent, and inclusive trade finance ecosystem, directly supporting small and medium-sized enterprises (SMEs) and advancing the goals of Bahrain’s Economic Vision 2030.
The first milestone will be the deployment of a trade finance registry, a digital platform enabling real-time validation of financing transactions across banks and financial institutions.
The registry is designed to mitigate risk for lenders and unlock new liquidity for borrowers by preventing duplicate financing, invoice fraud, and falsified documentation. Following its launch, leading Bahraini banks will be onboarded, with participation open to all licensed lenders in the kingdom.
“This is more than a partnership; it’s a national effort to build foundational digital infrastructure that strengthens Bahrain’s trade finance landscape. We aim to empower SMEs, enhance market confidence, and reinforce Bahrain’s leadership in financial innovation,” said BFB chief executive Bader Sater.
MonetaGo, which has deployed similar trade finance registries in several global markets, will contribute its extensive international expertise.
MonetaGo chief executive Neil Shonhard said the initiative would be the “foundation for building public infrastructure that supports SME growth and strengthens Bahrain’s position as a regional fintech leader.”
The initiative underscores Bahrain’s commitment to digital innovation and the creation of world-class financial infrastructure, positioning the kingdom as a resilient fintech hub.
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