Manama, Bahrain — Bahrain FinTech Bay, a subsidiary of The Benefit Company (BENEFIT), has announced a strategic partnership with MonetaGo to establish the Kingdom’s first Digital Public Infrastructure (DPI) — a pioneering initiative for the GCC region aimed at strengthening Bahrain’s trade finance ecosystem and advancing the goals of Economic Vision 2030.
The collaboration seeks to create a secure, transparent, and inclusive digital trade finance framework, addressing long-standing challenges faced by small and medium enterprises (SMEs) while enhancing Bahrain’s position as a regional fintech innovation hub.
The first milestone will be the development of a Trade Finance Registry, a digital platform enabling real-time validation of financing transactions across banks and financial institutions. This registry will help prevent duplicate financing, invoice fraud, and document falsification, providing lenders with greater confidence and enabling SMEs to access financing more efficiently. The platform will initially onboard leading Bahraini banks, with participation open to all licensed lenders.
Bader Sater, CEO of Bahrain FinTech Bay, said:
“This is more than a partnership; it’s a national effort to build foundational digital infrastructure that strengthens Bahrain’s trade finance landscape. Through this initiative, we aim to empower SMEs, enhance market confidence, and reinforce Bahrain’s leadership in financial innovation.”
Neil Shonhard, CEO of MonetaGo, added:
“Our trade finance registry has proven its value in markets worldwide, and together we will ensure Bahrain is at the forefront of secure and inclusive digital financial systems. This partnership lays the foundation for resilient public infrastructure supporting SME growth and trade transparency.”
By combining MonetaGo’s global experience in digital trade finance with Bahrain’s forward-looking fintech ecosystem, the initiative reinforces the Kingdom’s commitment to SME development, innovation, and secure digital finance infrastructure. It also cements Bahrain’s status as one of the region’s most progressive fintech hubs.
