THE National Bank of Bahrain (NBB) has signed on as the first participating bank and anchor banking partner for the Trade Finance Registry project, announced Benefit at Fintech Forward 2026.
Designed to de-risk trade finance, the initiative is a collaborative effort involving Singapore-based fraud prevention specialist MonetaGo and Bahrain FinTech Bay (BFB). Benefit will operate the platform, utilising MonetaGo’s technology and Google Cloud infrastructure.
The registry allows participating lenders to cross-check invoices in real time, preventing duplicate financing and fraud before funds are disbursed.
Abdulwahed AlJanahi, chief executive officer of Benefit, stated that the platform addresses shared industry challenges by combining tech expertise with strong banking partnerships.
NBB Group chief executive officer Usman Ahmed added: “Our involvement from the outset of the project allows us to contribute the perspective of a financial institution that understands both the needs of its customers and the operational realities of trade financing. Working alongside our partners, we aim to help establish a solution that strengthens lending decisions while preserving the efficiency and integrity of the wider financial system.”
Bader Sater, chief executive officer of BFB, highlighted that NBB’s participation is a vital step toward boosting market transparency.
MonetaGo CEO Neil Shonhard emphasised that the registry will reduce lender risk and expand liquidity access for businesses and SMEs.
Long-term plans for the platform include laying the groundwork for a broader national collateral registry to cover diverse assets and security rights.
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