BENEFIT and Singapore-based MonetaGo, in collaboration with Bahrain FinTech Bay (BFB), have entered the implementation phase of Bahrain’s National Digital Public Infrastructure (DPI) Initiative. The project aims to build a digital ledger for all financed trade transactions and invoice submissions, creating alternative data credit scores to strengthen trade finance and reduce SME lending risk.
MonetaGo said the partnership marks a significant milestone in Bahrain’s digital transformation journey. By combining Bahrain’s fintech ecosystem with Singapore’s trusted digital frameworks, both nations are laying the foundation for interoperable, cross-border digital public infrastructure linking Asia and the Middle East.
The initiative will establish secure, transparent systems that help banks lower fraud losses and expand financing to a wider SME base. BENEFIT CEO Abdulwahed Al Janahi highlighted the project as a pivotal step toward positioning Bahrain as a regional leader in digital public infrastructure and financial innovation. BFB CEO Bader Sater noted that the initiative unlocks access to finance for the 92% of Bahraini businesses that are SMEs—only 11% of which currently secure funding.
MonetaGo CEO Neil Shonhard said the collaboration signals a shift from vision to execution, creating a trusted, interoperable framework connecting Bahrain and Singapore. The effort aligns with Bahrain’s Economic Vision 2030 and mirrors Singapore’s success with its MonetaGo-powered Trade Finance Registry, launched in 2023 and now used by more than 50 banks.
