BisB and Tarabut to Empower SMEs through Digital Financing Solutions

TDT | Manama
Email : editor@newsofbahrain.com

Bahrain Islamic Bank (BisB), the leading provider of innovative Islamic financial solutions for simplifying money matters in Bahrain, has signed a Memorandum of Understanding (MoU) with Tarabut, MENA’s leading Embedded Finance platform, to develop a pioneering financing solution that helps SMEs and corporates access funding based on their daily Point-of-Sale (POS) transactions.

The proposed solution will adopt a revenue-based financing framework based on POS transactions that adjust financing repayments in line with businesses’ income streams, thereby helping businesses manage cash flow more effectively. With a digital application and approval process, businesses will be able to secure financing quickly, bypassing the lengthy procedures that are typically associated with traditional financing.

Mr. Aqeel Mohammed Ghaith, Chief Corporate & Institutional Banking Officer at BisB, stated: “By introducing a revenue-linked financing model that adapts to business revenue streams, we are opening up new opportunities for SMEs and corporates to improve their resilience, grow with confidence, and contribute to Bahrain’s economic development.”

Mr. Abdulla Almoayed, Founder & Chief Executive Officer of Tarabut, added: “These businesses are the heartbeat of the economy, but the slow, complicated processes of traditional funding simply can’t keep up with their needs. That’s why we are working with innovation-led banks like BisB and key players across the ecosystem to develop something game-changing: revenue-linked financing technology that gives businesses faster, more flexible access to loans, to grow, thrive, and make an even greater impact on the economy.”

Tarabut and BisB are working to introduce this unique setup to the Bahrain market, further enhancing the financial landscape for SMEs and corporates.