Following the Success of the Bank’s ‘Tijara’ Platform and ‘Riyadat’ Scheme Bahrain Development Bank Receives Two Awards at the International Finance Awards Ceremony

Manama, Bahrain – January 2024: The Bahrain Development Bank (BDB) was recently honoured at the International Finance Awards ceremony, which recognises the outstanding performance of leading institutions in various industries. The bank received the ‘Most Innovative New SME Digital Banking Platform’ award for its ‘Tijara’ digital platform and the ‘Most Innovative SME Financing Program for Women Empowerment’ award for its ‘Riyadat’ scheme.

A delegation from BDB, led by Group CEO Ms. Dalal Al Qais, Chief Banking Officer Mr. Ali Al Aradi, and Chief Strategy & Transformation Officer Ms. Nada Azmi, attended the ceremony which took place on Thursday, January 18, in Dubai, to accept the awards on behalf of the bank.

Commenting on the occasion, Group CEO Ms. Dalal Al Qais said: “We are proud of this outstanding achievement, which reaffirms our commitment to providing exceptional digital financial solutions. These awards also stand as a testament to the efforts of our team to empower businesses and drive economic growth in the Kingdom. BDB continues to be a pillar of the SME sector through its longstanding expertise and consistent support that have contributed to this vital sector.”

‘Tijara’ forms a significant component of BDB’s long-term strategy in driving digital transformation and fostering the growth of local SMEs and start-ups. The pioneering digital banking platform enables users to directly apply online for short-term financing of up to BD 15,000. The platform also serves to advance the business ecosystem in the Kingdom as well as boosts competition through a simplified innovative approach to accessible banking and financial services.

Meanwhile, the Women Business Finance Scheme ‘Riyadat’ is a joint initiative between BDB, the Supreme Council for Women and the labour fund Tamkeen. ‘Riyadat’ serves as a financing programme for female entrepreneurs, equipping them with the essential resources to enhance the development, innovation and success of their businesses. The programme actively contributes to the impactful transformation of the national economy.

BDB was also recently acknowledged by the Global Banking and Finance Review, which recognises companies within the global financial community for their expertise and excellence particularly with regards to innovation, achievements, strategy, progressive and inspirational changes. The bank received the ‘Best SME Bank Bahrain,’ ‘Best Online Services for SME Bahrain,’ and ‘Best Mobile App for SME Bahrain’ awards.