As part of a strategic initiative to strengthen the business environment and support small and medium-sized enterprises in the Kingdom of Bahrain, the Ministry of Industry and Commerce has announced the launch of the Credit Rating Platform for Commercial Establishments, in partnership with Benefit.

The announcement was made by His Excellency Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, during his address at the Bahrain Chamber of Commerce and Industry. The platform has been launched in partnership with Benefit and aims to provide clearer and more accurate credit ratings that reflect the real financial and operational position of businesses in Bahrain.

The new platform is expected to give SMEs an additional pathway to access financing, helping them grow and expand, while also enabling banks and financing entities to make data driven lending decisions based on reliable information and unified standards.

Commenting on the launch, H.E Mr. Fakhro highlighted the strong support extended to small and medium-sized enterprises by the Government of the Kingdom of Bahrain, under the leadership of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister. He emphasized that empowering SMEs through innovative solutions that enhance access to finance remains a key priority, in recognition of the sector’s vital role in driving economic growth.

“The Credit Rating Platform represents an important step forward in strengthening Bahrain’s financial infrastructure,” he said. “It increases transparency, builds trust in the market, and gives businesses, particularly SMEs more opportunities to secure financing and grow sustainably.”

Meanwhile, Mr. Abdulwahid Al Janahi, Chief Executive Officer of Benefit, said the partnership reflects joint national efforts to support businesses and accelerate digital transformation in the financial sector. He explained that the platform will help financing entities assess credit risks more accurately and direct funding toward viable and creditworthy businesses, ultimately improving access to finance for SMEs.

The platform allows businesses to present their financial and operational records in a clear and professional way, helping to improve financing terms, increase approval rates, and speed up credit decisions. The Ministry of Industry and Commerce has encouraged businesses, particularly SMEs, to take advantage of the platform and explore financing options linked to credit ratings, reinforcing Bahrain’s position as a supportive and attractive destination for business and entrepreneurship.