Bahrain, Singapore push forward cross-border digital finance link
Landmark collaboration accelerates Bahrain’s first Trade Finance Registry, strengthening SME financing and advancing interoperable digital public infrastructure
MANAMA, Bahrain (MNTV) — Bahrain has entered the implementation stage of its first Trade Finance Registry (TFR), a major digital infrastructure project jointly developed by BENEFIT, Singapore-based MonetaGo, and Bahrain FinTech Bay.
The initiative establishes a unified digital ledger for trade-finance transactions and invoices, aiming to reduce fraud risks, improve transparency, and expand access to credit for small and medium-sized enterprises.
The registry forms part of Bahrain’s strategy to scale digital public infrastructure nationwide, enabling banks to better assess risk through alternative data-driven credit scoring.
Officials say the system will help strengthen commercial lending channels and reduce exposure to duplicated or falsified financing claims.
Anchored in Bahrain’s fintech ambitions and Singapore’s global leadership in digital trust frameworks, the partnership is designed to create interoperable infrastructure linking financial ecosystems across Asia and the Middle East.
By building a secure “digital trade bridge,” the two sides intend to support cross-border verification, reduce settlement risks, and enhance regional economic integration.
BENEFIT CEO Abdulwahed Al Janahi said the registry positions Bahrain at the forefront of digital financial transformation, adding that the platform “de-risks finance, increases liquidity, and strengthens the transparency of the wider financial sector.”
He emphasized that the system forms a core component of the Kingdom’s long-term digital economy strategy.
Bahrain FinTech Bay CEO Bader Sater highlighted the project’s role in tackling SME financing gaps, noting that while SMEs account for more than 90 percent of registered businesses, only a small fraction receive formal credit.
The new system, he said, will support financial inclusion and expand lending opportunities through stronger risk-assessment mechanisms.
MonetaGo CEO Neil Shonhard described the transition from planning to execution as a defining milestone for Bahrain, framing the TFR as an interoperable framework capable of linking with international systems.
He added that the project strengthens financial integrity and supports secure trade flows across regions.
Singapore’s TFR—developed by the Association of Banks in Singapore using MonetaGo’s Secure Financing technology—launched in 2023 and has onboarded more than 50 banks.
Its integration practices and trust protocols are expected to inform Bahrain’s rollout as the two countries advance shared digital-economy objectives.
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