Manama:The Ministry of Industry and Commerce and Bahrain Islamic Bank (BisB) have entered into a memorandum of understanding (MoU) to enhance cooperation in supporting the industrial sector and promoting awareness of available financing solutions.
According to Bahrain News Agency, the MoU was signed during the Made in GCC 2026 Forum and Exhibition. This agreement coincides with BisB's launch of financing packages worth USD 32 million, aimed at manufacturers, small and medium enterprises (SMEs), and companies in Bahrain.
Dr. Khaled Al Alawi, Assistant Undersecretary for Industrial Development, signed the agreement on behalf of the ministry, while Ameer Dairi, Chief Financial and Strategy Officer, represented BisB. The MoU sets a framework for collaboration to inform industrial enterprises about financing options to aid their development plans.
The bank's Sharia-compliant financing packages focus on three key areas Make Local, Make Green, and Make Resilient. These initiatives are designed to boost local content, promote sustainable manufacturing practices, and enhance supply chain resilience. The packages support solar energy projects, lower emission technologies, and liquidity needs, with benefits tied to the Takamul local value added programme. Financing is subject to the bank's criteria, policies, and procedures.
Eman Ahmed Al Doseri, Undersecretary of the Ministry of Industry and Commerce, emphasized that the cooperation will improve coordination with the financial sector, enabling industrial enterprises to access financing options to expand production, increase local content, and enhance competitiveness. She stressed the importance of aligning financing solutions with sustainability, local value addition, and supply chain resilience to support industrial growth and strengthen ties with local suppliers and service providers.
Fatema Al Alawi, Chief Executive Officer of BisB, stated that the USD 32 million allocation will assist manufacturers in increasing local content, investing in sustainable technologies, and bolstering business and supply chain resilience. She noted that these financing packages aim to support investment in production capabilities, resource efficiency, liquidity, and business expansion.