Bahrain Development Bank Launches Invoice Discounting Scheme

Manama, Bahrain – 31 March 2024: Bahrain Development Bank (BDB) has launched its Invoice Discounting scheme as part of its continuous efforts to expand its product and service offering. The product aims to further strengthen BDB’s position in the Kingdom’s financial and SMEs industry as well as enhance the bank’s overall customer experience. Through the scheme, BDB will act as an intermediary between buyers and sellers, facilitating instant payments to suppliers for their services. The product aims to support the working capital and business requirements of SME’s by offering them the liquidity needed to help accelerate their business activities. The scheme will also enhance the business ties between sellers and buyers, as sellers will be able to receive their payments faster. Commenting on the occasion, Mr. Ali Yusuf Al Aradi, Chief Banking Officer at BDB, said: “We are pleased to have launched our latest product which will act as an interface between sellers and buyers, enabling them to receive the necessary liquidity within a convenient timeframe.” He added: “At BDB, we are dedicated to developing our corporate banking services to meet the expectations and needs of our customers. We strive to provide innovative solutions for our customer base and we will continue to deliver tailored products and services.” The launch of the Invoice Discounting scheme further underscores the bank’s customer-centric approach in providing customers with a unique banking experience. BDB is committed to empowering MSME business owners by offering them flexible and accessible financial services. To benefit from the new scheme, kindly contact your personal account manager, or call 17511111.