As part of its efforts to support the growth of companies and small and medium enterprises, the Bahrain Development Bank (BDB), the leading bank supporting small and medium enterprises in the Kingdom, launched in the first quarter of this year the “Invoice Discounting” product, which allows suppliers to receive their financial dues immediately without having to wait for traditional payment periods.
The product’s working mechanism includes five simplified steps, which begin with registering the buyer in the invoice discounting system. Followed by the supplier’s delivery of the goods or services, with the issuance of an invoice to the buyer, who uploads it to the “Tijara” platform. Then, the Bahrain Development Bank reviews the invoice and disburses its value directly to the supplier after approval.
This service is an innovative financing solution that enhances the immediate cash liquidity of suppliers, and provides buyers with longer and more flexible payment periods, which contributes to improving the cash flow cycle and supporting the stability and sustainability of trade operations in the local market.
Through the bill discount product, the Bahrain Development Bank confirms its commitment to providing innovative financial solutions that keep pace with the needs of entrepreneurs and suppliers, and support the national economy by enabling more companies to grow and expand with confidence and efficiency.
