SIDBI signs MOU with Bahrain Development Bank

PUNE: Small Industries Development Bank of India (SIDBI) and Bahrain Develop-ment Bank (BDB) signed an MoU on Wednesday in New Delhi, in the presence of Hamad Bin Isa Al-Khalifa of the Kingdom of Bahrain, who is on a state visit to India. The MoU was signed by Sh. Ahmed bin Mohamed, Minister of Finance, Bahrain and N K Maini, deputy managing director, in-charge, SIDBI.A high level business delegation from Bahrain was also present on the occasion.
In terms of the MoU, SIDBI would provide technical assistance / facilitate activi-ties of BDB group in the areas of risk management and credit appraisal, training of BDB Group officials in SME credit risk appraisal and related areas, in framing a suitable monitoring policy and NPA management system and in exploring tie up of Indian micro, small and medium enterprises with SMEs in Bahrain for mutual benefit.
Speaking on the sidelines of the MoU signing ceremony, Maini said that the MOU will provide a fee based income to SIDBI, derived from sharing its knowledge and learning with Bahrain Development Bank. He said that the MoU will also enable Indian micro, small and medium enterprises to expand their business to Bahrain.
SIDBI is India’s apex level development finance institution for the development, promotion and financing of MSMEs in India. BDB is Bahrain’s leading Develop-ment Financial Institution in Bahrain. Its mission is to promote entrepreneurship and innovation, develop the small and medium enterprises and assist in the self-employment in Bahrain through its financial and advisory services.