Mumtalakat and ARP Group Partner to Launch AI-Native Wholesale Bank in Bahrain
Bahrain's sovereign wealth fund, Mumtalakat, has partnered with the ARP Group to establish a new wholesale bank headquartered in Bahrain. The institution will be built as an AI-native and blockchain-enabled entity designed to serve regulated financial institutions, payment service providers, and corporations involved in cross-border activities. The bank aims to reduce complexity and costs for institutional clients operating across multiple markets and currencies by integrating programmable services via APIs. While the Central Bank of Bahrain has provided principle approval, the bank will commence regulated operations only after receiving final authorization. The venture seeks to leverage Bahrain's established regulatory environment to strengthen its position as a regional financial hub.
Topics: Artificial Intelligence Bahrain Economy Blockchain Fintech Wholesale Banking
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Part of the story Mumtalakat and ARP Group Partner to Launch AI-Native Wholesale Bank in Bahrain (3 articles)