Bahrain Development Bank (BDB) announced today the launch of “tijara” a new efficient digital banking platform for Small and Medium Enterprises (SMEs) that enables businesses to apply for loans online for the first time in the kingdom.

The launch coincides with the UN’s Micro, Small and Medium-sized Enterprises Day (MSMEs) and is a key milestone in Bahrain Development Bank’s strategy to drive digital transformation and support the growth of small businesses and startups in Bahrain by providing efficient and simplified banking solutions.

The platform will be available to selected BDB customers at this initial phase and will be made available for all customers in the next phase which will be announced later this year and will include additional BDB products and services.

Customers using the new platform will be able to register and undergo biometric verification digitally on the website www.tijara.bh. Additionally, the platform allows customers to apply for BDB’s newly launched ‘Express’ loan, which is a short-term financing of up to BHD 15,000 and track the progress of their application online.

Minister of Industry, Commerce and Tourism H.E. Mr. Zayed R. Alzayani said: “The launch of BDB’s new platform tijara is in line with the ministry’s commitment to cut red tape, empower the SME sector and further improve Bahrain’s business environment. The added flexibility of this service will enhance competitiveness by creating an innovative and simple process for SMEs and startups to gain access to financial services and financing”.

Bahrain Development Bank Chairman, H.E. Mr. Khalid Al Rumaihi said: “Over the years BDB has greatly contributed to fostering an environment that empowers businesses of all sizes, and as disruptive technology continues to transform industries, this platform is another step forward in Bahrain’s digital transformation journey and will continue to support economic growth in the SME sector”.

BDB focuses on financing and development of SMEs in the Kingdom and this service comes against the backdrop of last year’s SME boom where Bahrain’s commercial registration numbers soared, and a new wave of regional entrepreneurs emerged out of the COVID-19 pandemic.

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.