The Ministry of Industry and Commerce and Bahrain Islamic Bank (BisB) signed a memorandum of understanding (MoU) to strengthen cooperation in supporting the industrial sector and raising awareness of available financing solutions.
The agreement was signed on the sidelines of the Made in GCC 2026 Forum and Exhibition, coinciding with the bank's introduction of financing packages totalling USD 32 million for manufacturers, small and medium enterprises (SMEs), and companies operating in the Kingdom of Bahrain.
The MoU was signed by Dr. Khaled Al Alawi, Assistant Undersecretary for Industrial Development, on behalf of the ministry, and Ameer Dairi, Chief Financial and Strategy Officer, on behalf of BisB.
The agreement establishes a framework for cooperation to raise awareness of financing options available to industrial enterprises and support their development plans.
The bank's Sharia compliant financing packages focus on three areas: Make Local, Make Green, and Make Resilient. They aim to increase local content, support sustainable manufacturing practices, and strengthen supply chain resilience.
The packages include financing for solar energy projects, lower emission technologies, supply chains, and liquidity needs, alongside benefits linked to the Takamul local value added programme. Financing remains subject to the bank's eligibility criteria, policies, and procedures.
Eman Ahmed Al Doseri, Undersecretary of the Ministry of Industry and Commerce, said the cooperation would strengthen coordination with the financial sector and help industrial enterprises access financing options to expand production, increase local content, and improve competitiveness.
She highlighted the importance of aligning financing solutions with sustainability, local value added, and supply chain resilience to support industrial development and strengthen connections with local suppliers and service providers.
Fatema Al Alawi, Chief Executive Officer of BisB, said the USD 32 million allocation would support manufacturers seeking to increase local content, invest in sustainable technologies, and strengthen business and supply chain resilience.
She added that the financing packages were designed to support investment in production capabilities, resource efficiency, liquidity, and business expansion.
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