The Ministry of Industry and Commerce has launched of the "Commercial Establishments Credit Rating Platform" in partnership with BENEFIT. The initiative aims to enhance transparency in the credit market and support the sustainable growth of businesses.
The platform is designed to provide more accurate and transparent credit assessments that reflect the financial and operational position of enterprises in Bahrain. It is expected to offer SMEs an additional financing option to expand their businesses, while enabling lenders to allocate funding more efficiently based on reliable data and unified standards.
Abdulla bin Adel Fakhro, Minister of Industry and Commerce and Chairman of the SME Development Board, highlighted the strong support given to the SME sector by the government.
He said that the launch of the credit rating platform marks a qualitative leap in developing Bahrain’s financial infrastructure, particularly for SMEs. The platform provides an additional pathway to financing and enhances the quality of credit decisions through objective indicators that strengthen transparency and trust in the market, thereby supporting business competitiveness and sustainable growth.
Abdulwahed AlJanahi, BENEFIT CEO, affirmed that the partnership reflects national efforts to support commercial establishments and advance digital transformation in the financial sector. He said that the platform will enable lenders to assess credit risks more accurately and direct funding more efficiently toward creditworthy businesses, positively impacting SMEs’ access to finance and accelerating their growth.
The commercial credit rating system serves as a practical tool that allows businesses to professionally present their financial and operational records to lenders, improving financing terms, increasing approval rates, and speeding up credit application processes.
The collaboration between the Ministry and BENEFIT focuses on developing and implementing an innovative credit assessment model that provides lenders with more precise insights into businesses’ financial behavior, reduces financing operational costs, and enhances transparency and stability in the credit market.
The Ministry of Industry and Commerce encourages commercial establishments, particularly SMEs, to benefit from the new platform as an additional financing channel and to engage with lenders to explore credit rating-based financing products, further strengthening expansion opportunities and reinforcing Bahrain’s position as a supportive and attractive business environment for entrepreneurship.