Mumtalakat and ARP Group Partner to Launch AI-Driven Wholesale Bank in Bahrain
Bahrain's sovereign wealth fund, Mumtalakat, has partnered with ARP Group to establish a new wholesale bank based in Bahrain. The institution will leverage artificial intelligence (AI) and blockchain technology to serve regulated financial institutions, payment companies, and businesses involved in cross-border operations. The proposed bank aims to simplify complex multi-currency and international banking processes through programmable services integrated via APIs. By combining Mumtalakat's long-term investment focus with ARP Group's expertise in digital financial infrastructure, the venture seeks to enhance Bahrain's position as a leading regional financial hub. The project has received preliminary approval from the Central Bank of Bahrain and will commence regulated activities once final authorization is granted. Services will be rolled out in phases based on client engagement.
Topics: Artificial Intelligence Bahrain Banking Blockchain Fintech Wholesale Banking