Bahrain has partnered with Singapore-based MonetaGo to develop a trade finance registry, aiming to reduce invoice fraud and increase access to financing for small and medium enterprises SME. The announcement underscores Bahrain’s commitment to strengthening financial services and supporting economic growth.
The registry will enable banks in Bahrain to verify invoices in real time, preventing duplicate financing, falsified documentation, and fraudulent claims. By using this system, banks can mitigate risks associated with trade finance while ensuring transparency and reliability for SMEs. MonetaGo highlighted that the platform integrates advanced technology to improve trust across the financial ecosystem.
Through the registry, SMEs are expected to benefit significantly. Many small businesses face barriers to credit due to concerns over fraud and inaccurate documentation. With real-time verification, lenders can extend finance more confidently, supporting business expansion and operational growth. This development aligns with Bahrain’s broader efforts to position itself as a regional hub for digital finance and SME support.
Officials from MonetaGo and Bahrain Fintech Bay emphasized that the project demonstrates the importance of innovation in trade finance. They noted that the platform will streamline invoice validation processes, reduce delays, and strengthen relationships between banks and businesses. Furthermore, the initiative complements Bahrain’s ongoing fintech strategy, encouraging wider adoption of digital tools in the financial sector.
The project also has wider economic implications. By reducing fraudulent activities, the registry can enhance investor confidence in Bahrain’s financial system. Banks will face lower exposure to risk, enabling them to provide more affordable and accessible credit. SMEs, in turn, can focus on growth and productivity rather than administrative hurdles.
MonetaGo and Bahrain Fintech Bay confirmed that the registry rollout will begin gradually, with continuous monitoring and improvements to ensure smooth adoption. As the system expands, it is expected to cover a growing number of banks and businesses, further strengthening Bahrain’s trade finance ecosystem.
Overall, the counter-fraud registry represents a major step in modernizing SME finance in Bahrain. By combining technology with financial regulation, the project promotes transparency, innovation, and sustainable growth for small and medium enterprises across the Kingdom.
