“Bahrain Islamic” and “Trepez” cooperate to enable companies and small and medium enterprises

Developing pioneering financing solutions for the sector according to the daily sales payments returns

The Islamic Bank of Bahrain (BISB), the pioneering bank in providing innovative and simplified Islamic digital banking services in the Kingdom of Bahrain, has announced the signing of a memorandum of cooperation with the “Trepez” company, the leading compact financing platform in the Middle East and North Africa region, to develop solutions that grant the companies and small institutions sector The medium is obtaining financing according to the daily returns obtained from the points of sale.

This cooperation between the two parties will be based on providing a product with a unique financing framework, through which installments are deducted from the revenues of the points of sale, which contributes to alleviating the financial burdens on companies and small and medium enterprises, in addition to supporting the management of cash flows. Through the process of submitting a simplified digital request and approval, companies will be able to secure the necessary operational capital with ease without the need to undergo traditional procedures. The speed of obtaining financing would help the companies and small and medium enterprises sector to meet their requirements from operating capital and benefit from growth opportunities without facing the usual obstacles.

On this occasion, the CEO of banking services for companies and financial institutions at Bahrain Islamic Bank, Aqil Ghaith, stated: “Our cooperation with (interconnection) is another achievement in our long -term commitment to innovation and empowerment And contributing to the national economic development process, by offering a financing model linked to revenue, and based on commercial income sources.

For his part, the founder and CEO of Triba Abdullah Al -Moayad said: “There is a constant challenge facing the sector of companies and small and medium enterprises regarding easy access to financing, and in a company that we have the necessary technology to solve this challenge and provide a more intelligent, speed and smooth process for them. These companies represent a pulse The local economy, but the slow and complex operations associated with the traditional financing procedures cannot keep pace with their needs. Funding, which coincides with their needs and achieving a greater impact on our local economy. “

The Islamic Bank of Bahrain and “Trabet” is working to present this unique system to the Bahraini market, which enhances the financial scene of the sector of companies and small and medium enterprises, and this initiative also enhances the position of the Islamic Bank of Bahrain as a reliable partner for the small and medium -sized companies sector and emerging institutions in the Kingdom of Bahrain. By developing advanced financial services that are compatible with the needs of customers, the bank continues its efforts to support the success of the business sector in the long run, and to advance economic progress.