NBB Becomes First Anchor Bank for Bahrain’s New Trade Finance Registry

The National Bank of Bahrain (NBB) has joined BENEFIT’s Trade Finance Registry as its first participating bank and anchor partner. This initiative, developed alongside MonetaGo and Bahrain FinTech Bay, provides a shared digital infrastructure to prevent trade finance fraud and double-financing, offering a critical risk-mitigation tool for lenders operating in the Kingdom’s evolving financial ecosystem.

What was announced

Announced during Fintech Forward 2026, the Trade Finance Registry is a collaborative effort designed to strengthen the integrity of trade finance transactions across Bahrain. The project is operated by BENEFIT, with Singapore-based MonetaGo providing the fraud prevention technology and Google Cloud supplying the underlying cloud infrastructure. The initiative follows a framework established during the Singapore FinTech Festival, where the parties first outlined plans for shared digital infrastructure.

The registry functions as a real-time verification mechanism, allowing participating financial institutions to cross-check invoices before funds are disbursed. By identifying suspected fraud and attempts to secure financing against the same invoice from multiple lenders, the platform addresses a systemic vulnerability that individual banks often struggle to detect in isolation. This shared visibility is intended to support more informed lending decisions and increase the availability of liquidity for businesses and SMEs.

As the anchor banking partner, NBB is tasked with supporting the implementation phase and assessing the platform’s performance against practical banking requirements and operational standards. While NBB is the first to join, other banks are currently participating in the project to contribute diverse expertise ahead of a wider sector-wide rollout. Beyond its immediate focus on trade finance, the registry is designed to serve as a foundation for a potential national collateral registry, which could eventually encompass a broader range of assets used to secure financing in the Bahraini market.

"For businesses, timely access to trade finance is essential, but it must also be supported by the right safeguards. Our involvement from the outset of the project allows us to contribute the perspective of a financial institution that understands both the needs of its customers and the operational realities of trade financing. Working alongside our partners, we aim to help establish a solution that strengthens lending decisions while preserving the efficiency and integrity of the wider financial system. This is an opportunity to jointly address a shared industry challenge and deliver lasting value to Bahrain’s economy."

Usman Ahmed, Group Chief Executive Officer at NBB.

The companies involved

BENEFIT is Bahrain’s primary provider of fintech and electronic financial transaction services. The organization plays a central role in the Kingdom’s financial sector, managing national infrastructure such as the BenefitPay wallet and various payment gateways. Its involvement in the Trade Finance Registry aligns with its broader mandate to modernize Bahrain's financial services through collaborative technology projects.

The National Bank of Bahrain (NBB) is a major financial institution in the region, providing a wide range of commercial and retail banking services. As the first bank to integrate with the new registry, NBB occupies a significant position in the local trade finance market. MonetaGo, the technology partner for the project, is a Singapore-based specialist in trade finance fraud prevention. The company has established a global footprint by providing "Secure Financing" solutions that help lenders mitigate risks associated with duplicate financing. Bahrain FinTech Bay (BFB) acts as a dedicated fintech hub and ecosystem builder, facilitating partnerships between traditional financial institutions and technology providers to drive innovation within the Kingdom.

What FF News has reported before

FF News has closely followed the development of Bahrain’s fintech ecosystem and MonetaGo’s global expansion. We recently reported on BENEFIT and FLOOSS Partner to Launch Nano Financing for Bahraini Consumers, which also took place at Fintech Forward 2026. BENEFIT’s ongoing infrastructure upgrades were further highlighted when FOO and BENEFIT Hit 100-Feature Milestone to Advance Bahrain’s National Wallet BenefitPay.

Regarding the technology provider, FF News covered how Unloq Tackles Trade Finance Fraud with MonetaGo Secure Financing Integration. Additionally, we reported on MonetaGo’s work in other major markets, such as when SIDBI Goes Live with MonetaGo Secure Financing to Bolster MSME Lending in India, demonstrating the vendor's experience in deploying national-scale fraud prevention registries.

What this means

The launch of a centralized Trade Finance Registry marks a shift toward "Digital Public Infrastructure" as a primary defense against systemic fraud. Double-invoicing remains one of the most persistent challenges in global trade, often resulting in significant losses that cause banks to tighten credit lines, particularly for SMEs. By creating a unified "source of truth," Bahrain is putting pressure on the traditional, siloed approach to risk management. For the wider industry, this move signals that participation in shared registries may soon become a prerequisite for maintaining competitive trade finance portfolios. The success of this initiative will likely depend on achieving total market participation to eliminate "blind spots" for fraudsters.